Pan-European cyber security services provider Glasswall Solutions has closed a strategic funding round of £15m to help expand across North America and extend operations in Europe. The funding round was led by UK entrepreneur and philanthropist Michael Spencer through IPGL, his personal investment vehicle.
The financing will enable Glasswall to accelerate development of its portfolio of Glasswall FileTrust products. “Additionally, to meet demand, the company plans to scale its sales and marketing to grow its customer base across the US, Canada and Europe,” the company said.
Glasswall has developed a patent-protected Deep-File Inspection, Remediation and Sanitisation Technology – d-FIRST - a methodology for the prevention of malware and the understanding of organisational risk from file-borne cyber-attacks. It reverses the traditional signature-based security approach by validating “known good” elements of a file and regenerating a new identical and safe copy, instead of completely blocking it.
“With the vast majority of cyber attacks launched through malicious files and documents, organisations are constantly challenged to protect themselves without hindering the productivity of their users,” said Michael Spencer. “In real-time, Glasswall provides unparalleled protection from the threat of file-based attacks while ensuring no disruption to user work flow. Glasswall is the industry-leader in file regeneration technology.”
Greg Sim, CEO of Glasswall Solutions, said: “With this round of fundraising complete, Glasswall is well positioned to continue to develop the world’s leading file regeneration solution while delivering the stellar support our clients deserve.”