Binary Defense Systems Raises $36M in First Funding

Binary Defense Systems, a Cleveland, OH-based provider of a Managed Detection and Response (“MDR”) and enterprise defense platform, raised $36M in First funding.

The round was led by Invictus Growth Partners.

The company intends to use the funds to expand customer acquisition efforts with accelerated sales and marketing efforts and expand machine learning to enhance its technology enabled service capabilities as it creates a Managed Open XDR solution.

Led by CEO Bob Meindl and Chief Hacking Officer David Kennedy, Binary Defense is a managed detection and response provider and software developer with a Managed Open XDR model covering endpoint, network, cloud, and other log sources to supply threat detections. When paired with its advanced Threat Hunting, Digital Risk Protection, Attack Surface Management, and Incident Response services, the company offers a comprehensive enterprise defense portfolio.