Trinity Cyber has secured $23 million in funding from investors led by Intel Capital.
Trinity Cyber’s new technology proactively intercepts and controls cyberattacks before they reach a customer’s network. The stealth interception of external threats is a significant complement to existing cybersecurity solutions.
The company’s approach is unique because it does not compete with traditional, reactive detection and remediation capabilities, but rather is additive. Operating
outside of network perimeters to intercept cybersecurity attacks, the company claims their technology achieves unrivaled speed, efficiency, and security. Trinity Cyber has a patent-pending on their technology, known as Proactive Threat Interference®.
“This investment by Intel Capital and other strategic backers is significant,” said Trinity Cyber CEO Steve Ryan. “I co-founded Trinity Cyber to transform the way the world addresses the cyber problem. No one is doing what Trinity Cyber is doing. No one else can. We make the adversary fail, and we feel this strategic support validates the elegance of our solution.”
“As cyberattacks become more sophisticated, technology to counter them needs to stay one step ahead,” said Wendell Brooks, Senior Vice President of Intel Corporation and President of Intel Capital. “As the threat landscape continues to grow, so does the opportunity to provide cutting edge technology to protect a company’s valuable data. We are excited about being part of Trinity Cyber’s innovative commitment to helping companies stay secure.”
Trinity Cyber also announced that, in addition to CEO Steve Ryan and President Marie “Neill” Sciarrone, former Homeland Security Advisor and U.S. cybersecurity chief, Tom Bossert, has joined the management team.
“The trend in global cyber attacks has been going in the wrong direction for some time, and American businesses are paying the price. It’s time we meet this problem with a truly preventive solution,” said Bossert. “Trinity Cyber provides a high caliber solution to U.S. businesses that is capable of defeating nation-state level attacks and long overdue.”
“This is an important day for Trinity Cyber,” said President & Co-founder Marie “Neill” Sciarrone. “We are effectively announcing our emergence from stealth mode, a strategic new leadership hire, and funding above the industry average for a Series A round.” She added, “By offering a truly preventive solution to a topical and challenging problem, Trinity Cyber adds value to virtually every industry sector and is destined to set a new cybersecurity risk management standard.”
According to a recent IBM report, the cost of a data breach has risen 12% over the past 5 years and now costs $3.92 million on average. Companies with less than 500 employees suffered losses in excess of $2.5 million on average. Over 50% of data breaches in the IBM’s study resulted from malicious cyberattacks and cost companies $1 million more on average than those originating from accidental causes.