RevealSecurity Raises $23M to Detect Malicious Activities

RevealSecurity, a leader in application detection and response, announced a $23 million Series A funding round. RevealSecurity protects organizations against malicious activities executed by insiders and imposters in enterprise applications.

The funding will be used to accelerate RevealSecurity’s global expansion and product development and is led by SYN ventures, with participation from Hanaco Ventures, SilverTech Ventures and World Trade Ventures.

The market shift for business-critical functions from on-premises to SaaS and the cloud has expanded the attack surface for malicious activities by imposters and trusted users. This trend has resulted in a greater need for solutions that monitor user activities accurately, to detect business process attacks in a way that scales across multiple different types of applications.

Current detection solutions of malicious activities in the application layer are based on rules that are defined by log events and generated by specific applications. However, rule-based solutions detect only known attack patterns, and they generate a high number of false alerts, requiring constant investment and maintenance.

RevealSecurity’s detection solution is application-agnostic, analyzing user journeys in and between different applications – SaaS, cloud and custom-built applications. The company developed an unsupervised patent-pending machine-learning algorithm to analyze event logs and detect suspicious user journeys.

Founded in January 2021, RevealSecurity has demonstrated hyper-growth in the past year, expanding its international customer base in the banking, insurance, health care and utility sectors.

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