ALTR, a cybersecurity startup which uses blockchain technology, has emerged from stealth with an announcement that it has raised $15 million in venture capital.
Cybersecurity startup Virtru, which developed out of NSA research, has secured $37 million funding in a Series B investment round led by ICONIQ Capital.
Data breach costs have risen significantly over the past two years for companies of all sizes, with the average enterprise data breach costing over $1 million.
Many cybersecurity startups become corporate “zombies” with little prospect of fetching a good price in an initial public offering (IPO) or becoming acquisition targets, according to experts.
“This one blew up. This was like nothing else we’d seen,” said Butts, who, like the hackers working with Muddy Waters, researches ways to subvert safeguards designed to prevent intruders from breaking into medical devices. “This is almost like The Big Short — someone saw something that nobody else did.”