Friday, February 22nd | 17 Adar I 5779

July 17, 2018 11:18 am

Insider Threat Management Firm ObserveIT Raises $33 Million

avatar by Reuters and Algemeiner Staff

Email a copy of "Insider Threat Management Firm ObserveIT Raises $33 Million" to a friend

A screenshot of the ObserveIT homepage. Photo: Screenshot.

ObserveIT, a provider of insider threat management software, said on Tuesday it raised $33 million in a private funding round with participation from Bain Capital Ventures and Spring Lake Equity Partners.

NightDragon Security, the cybersecurity investment firm founded by industry veteran Dave DeWalt, also participated.

The funding will be used to accelerate product innovation and to expand the sales and marketing teams to support the company’s global growth.

ObserveIT, founded in 2007 by two Israelis, said that in the past year the company increased customer deals by 185 percent while new customer deal size grew by more than 250 percent.

Related coverage

February 21, 2019 6:39 pm

Snap Poll: New Gantz-Lapid Unity Party Running Six Seats Ahead of Netanyahu’s Likud

A poll taken just after the dramatic announcement that two leading Israeli opposition parties will merge for the country's upcoming...

“Whether accidental or malicious, insider threats are increasing in both frequency and cost,” said Mike McKee, CEO of ObserveIT.

The firm, which employs 150 people, is based in Boston and has its main research and development center in Israel.

Share this Story: Share On Facebook Share On Twitter Email This Article

Let your voice be heard!

Join the Algemeiner