Fidelis Cybersecurity raises growth capital to accelerate innovation of its unified security platform and 24/7 MDR service

Investment to fuel further innovation and product adoption of Fidelis’ automated detection and response platform across networks, endpoints, cloud and enterprise IoT environments, focused on insider threats, data loss prevention and deception

Fidelis Cybersecurity, a leading provider of automated detection and response capabilities through its Fidelis Elevate platform, today announced the completion of a $25 million funding round led by the company’s existing investors and following substantial bookings from the company’s second quarter, including 15 of the Fortune 500, 20 of the Forbes Global 2000 and 10 U.S. and Foreign Government Agencies.

The funding will be used to extend the company’s strategic product innovation as well as support Fidelis’ rapid business growth through expansion of go-to-market initiatives and investment into its 24/7 Managed Detection and Response (MDR) service.

With advanced threats being designed to bypass preventive, perimeter-based defences, more organisations are looking to shift to a defence strategy that prioritises detection and response. Fidelis’ unified security platform, Fidelis Elevate, delivers automated detection and response across networks, endpoints, cloud and enterprise IoT environments allowing organisations to ensure a stronger post-breach defence. Fidelis complements Fidelis Elevate with its 24/7 MDR service, which arms customers with a team of highly-skilled security experts that leverage the company’s patented technology to analyse rich network and endpoint metadata, content, behavioural and asset characteristics to aid in hunting and investigations.

“Our investors recognise Fidelis’ strong value proposition and ability to execute in a dynamic marketplace,” said Nick Lantuh, president and CEO of Fidelis Cybersecurity. “We are making significant investments in innovation to accelerate how security operations and incident response teams react to, manage and hunt for threats. We are doing this by building on our market-leading network traffic analysis solution which provides organizations with full visibility across their attack surface. By combining our patented technology, unmatched expertise and curated intel from our threat research team, we provide customers with deep visibility across increasingly complex environments, more accurate detections and the capability to respond faster and more effectively to threats and data loss.”

Fidelis will utilise the funding to:

  • Deliver additional product innovation and deeper integrations across the company’s unified security platform, Fidelis Elevate, consisting of Fidelis Network, Fidelis Endpoint and Fidelis Deception, which provide enhanced visibility, context and automation.
  • Strengthen the company’s go-to-market capabilities by deepening coverage in existing territories and expanding into new select markets around the globe.
  • Increase scale of its 24/7 MDR service, which uses the Fidelis Elevate Platform to provide Endpoint Detection and Response (EDR)Network Traffic AnalysisEnterprise IoT visibility and Asset Discovery and Deception, enabling the identification, classification and protection of an organisation’s digital assets.

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