Bastille, a Santa Cruz, CA-based supplier of wireless threat intelligence technology to high-tech, banking, and the intelligence community, raised $44M in Series C funding.
The round was led by Goldman Sachs Asset Management with participation from existing investor Bessemer Venture Partners. Zartasha Chaudhry, of Goldman Sachs, will join Bastille’s Board of Directors to advise on the company’s next stage of growth.
The company intends to use the funds to expand into new markets.
Led by CEO Chris Risley, Bastille specializes in enterprise wireless threat intelligence through software-defined radio. It provides visibility into the known and unknown mobile, wireless, and Internet of Things devices inside an enterprise’s corporate airspace – together known as the Internet of Radios. Through its patented software-defined radio and machine learning technology, Bastille senses, identifies, and localizes threats, offering security teams the ability to quantify risk and mitigate airborne threats that could pose a danger to network infrastructure. It provides its commercial customers with the ability to detect every wireless device in every facility, to watch each device’s behavior, and to evaluate that traffic for threats which would otherwise not be seen. The solution then provides customers’ security teams with the locations of all devices violating their security policies. A key design feature of Bastille’s technology is the ability to integrate with the customer’s existing security systems and procedures.
Commenting on the news, Chris Risley said: “Bastille has tripled Annual Recurring Revenue in the last year and is on track to more than double ARR again this year. Given their product experience as a Bastille customer, we are thrilled to deepen our relationship with Goldman Sachs as we bring them on as an investor.”
FinSMEs
25/01/2024