Phantom Cyber Lands $2.7M Seed Round To Automate Cybersecurity

TechCrunch

Phantom Cyber, a cybersecurity startup with an ambitious idea, announced a $2.7M seed round with backing from some of the biggest names in computer security.

Investors include  John W. Thompson, former CEO of Symantec, Thomas E. Noonan, former CEO of Internet Security Systems (ISS) and John C. Becker, former CEO of Sourcefire. Zach Nelson, CEO of NetSuite Inc, Foundation Capital and Rein Capital also participated.

The trouble with today’s approach to cybersecurity is that it’s entirely too manual, postulates Phantom Cyber CEO Oliver Friedrichs. Throwing a large number of people to watch attacks, then making decisions and taking manual actions isn’t keeping up with the problem, he explained. His company wants to automate most of that activity and take humans out of the loop unless absolutely necessary.

He said part of the problem is there aren’t enough security professionals to keep up with the need, but more importantly the level of activity requires machine speed…

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