BreachQuest, a Dallas-based cybersecurity startup developing a proprietary platform to solve security issues faster and at a lower cost, has raised $4.4 million via a seed funding round.
The funding round counted with participation from San Francisco-based VC firm Slow Ventures, Lookout founder Kevin Mahaffey, and the pair co-founders of Tinder Sean Rad and Justin Mateen.
The company’s first modern incident response platform, called PRIORI, will integrate with top industry talent aiming to provide a more intelligent and seamless scoping, remediation, and recovery experience. By taking a “re-engineered approach to incident response and recovery”, the technology developed by the startup offers its customers end-to-end readiness and response capabilities. This approach allows first responders to find exactly where and when a breach occurred, letting them repair it expeditiously.
BreachQuest aims is to fill a void in the industry by minimizing the cost and downtime associated with breaches amid the increasing number of ransomware threats. Currently, the average industry standard to take action when a breach occurs is 280 days for detection and 334 days for containment, with an estimated cost of $3.9 million. CEO Shaun Gordon referred to the startup’s mission by stating:
“BreachQuest was formed to do two things. First, to deliver an unparalleled incident response that minimizes downtime. Secondly, to develop PRIORI, a comprehensive platform which will re-engineer the incident response process and move incident preparedness into the future.”
BreachQuest is planning to use the latest investment to fuel the development and deployment of PRIORI as well as expanding its team, which already has several experienced cybersecurity experts, including former National Security Agency, Department of Defense, and U.S. Cyber Command operators.
The co-founder and chief technology officer at BreachQuest, Jake Williams, was formerly an NSA hacker as well as founder and president of cybersecurity company Rendition Infosec, which was acquired by BreachQuest. BreachQuest’s chief information security officer, A.J. King has spent many years in cybersecurity for the financial services sector. Shawn Melito, who has experience as managing director of business development of Kivu Consulting, serves as a chief revenue officer of BreachQuest.
According to the startup, this world-class team is its biggest competitive advantage, allowing the cybersecurity startup to be currently working with more than 40 percent of the world’s Fortune 100 companies.