We are delighted to announce that Molten has led a $19 Million Series A in Binalyze, a leading provider of cutting-edge Digital Forensics and Incident Response (DFIR) solutions. The cybersecurity firm will use the investment to accelerate the growth and development of its category-defining Digital Forensics and Incident Response (DFIR) platform.
Existing investors, Earlybird Digital East and OpenOcean, and new strategic investors Cisco Investments, Citi Ventures, and Deutsche Bank Corporate Venture Capital also participated.
With cyberattacks growing in sophistication and frequency, there is a critical need for efficient investigation solutions to reduce the average investigation time to just hours and put Security Operations Center (SOC) teams back on the offensive. IDC, State of DFIR Report states that current investigations average 26.1 days. Binalyze's state-of-the-art AIR platform addresses this need, enabling enterprises and managed security services providers (MSSPs) to leverage speed, automation, collaboration, and unmatched forensic visibility.
Edel Coen, Principal, Molten Ventures said: “Investigation speed post-incident is crucial, but has been hampered by market fragmentation and complex IT systems. Binalyze flips this on its head, with rapid results via advanced automation and multi-platform support. This is a game-changer for SOCs after an attack, and we're thrilled to back the team as they transform the DFIR market.”
This significant investment will enable Binalyze to advance its mission to deliver the most comprehensive, end-to-end DFIR investigation platform on the market for cloud and on-premise assets, leveraging:
- Lightning-fast speed,
- Advanced automation and integration capabilities, and
- Efficiency-driving collaboration features.
When combined, these capabilities dramatically shorten the time required to complete incident response investigations – making often resource-strapped SOC teams more efficient and productive.
"We are thrilled to have secured this substantial investment from such prestigious partners; the participation of Cisco, with its portfolio of cybersecurity solutions, along with the venture arms of Citi and Deutsche Bank, two global banking heavyweights, further underscores the credibility of our technology and team,” said Emre Tinaztepe, Founder and CEO of Binalyze.