Giant Oak, which applies AI, machine learning and big data analytics to government and industry security, has announced a $10 million growth equity investment from Edison Partners.
Giant Oak has built a security solution that is not only changing but disrupting the way government and industry mitigate risk when performing background investigations on the Internet.
– Tom Vander Schaaff, General Partner, Edison Partners
The company’s proprietary search platform, Giant Oak Search Technology (GOST) was initially designed to scan the open, deep and dark web (along with other data) to help national security and law enforcement identify criminal behaviour including human trafficking, terrorism, and other security threats. It has since expanded into the commercial sector, to help private companies with compliance requirements (including know-your-customer, anti-corruption, and anti-money laundering regulation) and threat intelligence.
“GOST delivers to national defense and security, law enforcement, financial services and private corporate risk managers the best solution to identify evidence of and manage human threats in a fraction of the time,” said Dr. Gary Shiffman, founder and CEO of Giant Oak. “We combine quantitative methods, social science and computer science to screen for ‘bad actors’ and provide a unique, disruptive, and scalable solution with a cost-effective answer.”
He went on to say: “We exist to identify illicit activity and negative media search information of interest to our clients. From screening for benefits like security clearances, customer acquisition, and recruiting, to helping identify terrorists and insider threats, and cybersecurity monitoring, GOST gives decision makers the information they need when it counts.”
Tom Vander Schaaff, General Partner of Edison Partners, will join Giant Oak’s board of directors as part of the investment.
“Giant Oak has built a security solution that is not only changing but disrupting the way government and industry mitigate risk when performing background investigations on the Internet,” he said. “What this team has developed over the last five years is a major advance in the search and retrieval industry and is demonstrating hard ROI for customers. We’re excited to help Giant Oak further accelerate and scale growth.”
According to the company, Giant Oak will use the investment to expand its sales and marketing efforts, and to continue work on GOST, focusing on software engineering and behavioural analytics.
“Edison is an ideal partner for Giant Oak, and for more than our capital needs,” said Dr. Shiffman. “Their team possesses expertise in our business model and target markets, and access to their Edison Edge platform gives us an extra boost of capability to realize our vision and growth plans.”