Vidder Inc., the pioneer of PrecisionAccess that stops cyber attacks before they start, today announced the closing of $12 million in Series B financing. LDV Partners (LDVP) led the round of funding, which includes participation from Presidio Ventures as a new investor, along with current investors ONSET Ventures and Voyager Capital. In addition, Winston Fu, General Partner at LDVP, has been named to the Vidder Board of Directors.
“Cyber attacks are rampant,” said Mark Hoover, CEO of Vidder. “Many of the massive, continuing breaches we see today are the results of enterprise applications being exposed to all kinds of users in the extended enterprise of cloud apps and partner ecosystems. We’ve had great success protecting Fortune 500 companies in the US and are looking forward to now expanding globally. The international insight that LDVP and Presidio bring are just what we were looking for.”
Vidder will use the funds to expand global marketing, sales and customer service, delivering Vidder PrecisionAccess to enterprises who seek to prevent breaches associated with credential theft, server exploitation and connection hijacking.
“We chose Vidder as the flagship investment for our new fund because of its enormous market potential, experienced management team, capital efficiency, and differentiated technology,” stated Winston Fu, General Partner at LDVP, who has a 16-year track record investing in technologies that disrupt large markets. “We couldn’t have asked for a better situation Vidder’s technology and business model are validated by cornerstone customers and growing industry demand.”
Vidder PrecisionAccess provides enterprise IT with complete control of connectivity to applications throughout the evolving extended enterprise. Based on a next-generation access control architecture called the Software Defined Perimeter (SDP), PrecisionAccess features built-in transparent multifactor authentication (tMFA) capability that makes stolen credentials useless to the attackers. PrecisionAccess uses a pre-authentication process to create precise, dynamic connections for individual users, granting them access to only the applications for which they are authorized. This technique isolates the application servers from everyone, greatly reducing the attack surface from those who seek to exploit server or application vulnerabilities, compromise the system, or tie up resources to deny service.
“As an original Series A investor, we’re thrilled to see the amount of investment interest and customer traction the company has generated,” stated Shomit Ghose, General Partner at ONSET Ventures. “The major IT trends have changed the landscape of enterprise security, and only Vidder has shown they’ve been able to comprehensively solve the problem.”
Vidder (vidder.com) stops cyber attacks before they start. Vidder is the pioneer of Precision Access, the next generation access control for the extended enterprise. Vidder PrecisionAccess eliminates credential theft, server exploitation, and connection hijacking by dynamically connecting only trusted and strongly authenticated users to authorized systems. As the industry-first solution based on a breakthrough security architecture called Software Defined Perimeter, Vidder PrecisionAccess has quickly attained strong traction with Fortune 500 customers.