SOURCE: JASK

JASK

February 03, 2016 07:00 ET

JASK, Building Artificial Intelligence for Cyber-Security, Raises $2 Million in Seed Financing Led by Battery Ventures

Led by Serial Security Entrepreneur Greg Martin, JASK Uses Big Data and Advanced Analytics to Help Enterprises Automate Security Operations

SAN FRANCISCO, CA--(Marketwired - Feb 3, 2016) - JASK, a new company pioneering artificial intelligence and advanced analytics for cyber-security, has raised more than $2 million in seed financing in a round led by Battery Ventures. Vertical Venture Partners and other prominent angel investors also participated. JASK intends to use the proceeds to develop its product and secure early customers.

The company was founded by Greg Martin, who previously started ThreatStream, a leading innovator in the cyber "threat-intelligence" sector. Martin also played a key role at ArcSight, the market leader in security information and event management (SIEM) technology, which makes software to monitor corporate networks and protect them from hackers. ArcSight was acquired by Hewlett-Packard in 2010.

JASK is building what it calls the first-ever, predictive "security operations center" to help companies move past the limitations of existing security-management and monitoring solutions. The next-generation technology is part of the broader trend of leveraging artificial intelligence to make security measures more proactive and stay ahead of sophisticated cyber-attacks proliferating in the industry.

With companies adding more and more software applications to their networks, including many in the cloud, "you have to move faster to keep up with threats," said Martin, the company's chief executive. "Our software allows enterprises to better analyze security information and find threats buried in data -- all in an automated way that doesn't require them to throw more bodies at the problem."

Dharmesh Thakker, general partner at Battery Ventures, says new security-automation solutions are needed as both external attacks and insider threats proliferate and IT systems become more vulnerable, but companies still struggle to spot breaches early and contain them. Despite the severe impact of cyber-attacks, spending on security products represents less than five percent of overall information-technology budgets, he noted.

"The large players in this space haven't kept up with current trends, and startups are leading the charge leveraging AI and Machine Learning for security innovation," said Thakker. "Greg and his team have a track record of being two steps ahead of others in this area, and we are excited to back JASK as it tries to up-level security automation at big companies."

JASK is targeting a product release for the second half of 2016.

About JASK
JASK is building the world's first predictive "security operations center" to help large enterprises automate their security operations and find -- and react to -- dangerous threats faster. JASK, founded by serial security entrepreneur Greg Martin, leverages artificial intelligence and advanced analytics to offer companies a more holistic view of corporate data, inside and outside the firewall, and provide next-generation tools to keep corporate operations secure.

About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, e-commerce, digital media and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.