Confer raises $8M For Network To Battle CyberthreatsJanuary 15, 2014
Boston Business Journal
by Kyle Alspach
Confer, a Waltham-based cybersecurity software firm, has raised $8 million in Series A funding from Boston-area venture capital firms Matrix Partners and North Bridge Venture Partners.
Confer says its software allows companies to more efficiently collect and share intelligence about cybersecurity threats, and describes its offering as "the world's first cyberthreat prevention network."
Confer software downloaded onto devices and servers will sense any anomalous behavior, and automatically share that data with trusted partners — such as other companies in the same industry, Confer CEO and co-founder Mark Quinlivan said.
"We saw that big companies were collaborating on sharing threat information, but they were doing it manually — emails and calls," Quinlivan said. "We're giving them threat intelligence, and allowing them to automatically share that with circles of trust."
Confer expects to make its software commercially available this quarter, he said.
Ultimately, the startup hopes to bring sophisticated cybersecurity defense — the kind that's typically only possible for the largest companies — "to the masses," Quinlivan said.
Incorporated in early 2013, Confer closed its $8 million funding round last fall and has been operating in stealth mode, he said.
The investment for Cambridge-based Matrix was led by general partner Tim Barrows, and for Waltham-based North Bridge the deal was led by general partner Jim Moran.
Quinlivan was formerly CEO of Carrier IQ, COO of edocs and an SVP at Lucent. His co-founders are CTO Jeff Kraemer (Cisco, Digital Equipment) and VP of products Paul Morville (Arbor Networks, Barron's Online).
Confer employs 20 in all, Quinlivan said.