Cybersecurity Startup GreyNoise Secures Seed Funding to Reduce Internet Background Noise
GreyNoise Intelligence, founded by Andrew Morris, announced that the company has completed a $600K seed financing. GreyNoise identifies Internet background noise caused by benign sources that inflate the volume of security alerts that security operations teams need to analyze. Consisting largely of false positives, filtering this background noise out allows security teams to streamline and prioritize threat analysis.
According to Morris, “Security analysts review countless events every day. Without a baseline of expected traffic that every Internet-connected device sees, analysts must assume that everything hitting their network is aimed at their organization specifically, but that’s not the case. There are hundreds of thousands of bots, crawlers, worms, search engines, and other devices constantly scanning and probing every machine connected to the Internet.”
The seed financing was led by Inner Loop Capital and StoneMill Ventures, with participation from other prominent venture capital firms and notable angel investors. These include Paladin Capital Group, Oliver Friedrichs (founder of Phantom, Immunet and SecurityFocus), Bryson Bort (founder of SCYTHE and GRIMM) and Pedram Amini (CTO, InQuest.net and founder of Jumpshot).
According to Michael Sutton, of StoneMill Ventures, “Security analysts are overwhelmed by the volume of alerts that they must analyze on a daily basis. It is critical that they are able to focus only on those alerts that truly pose a threat to the enterprise and not waste precious cycles on benign or lesser events. GreyNoise is providing critical intelligence, allowing enterprises to ensure that analysts are focused on the most critical alerts.”
Justin Label, of Inner Loop Capital added, “In launching GreyNoise, Andrew combined advanced research with a keen empathy for his customers’ actual daily work. The fact that Andrew had closed over half a dozen live, paying customers while bootstrapping GreyNoise indicated to us the strength both of his product and of his customers’ compelling need for what GreyNoise offers.”