Funding will be used to hire additional development engineers and sales staff as well as expand the company’s marketing efforts
Stamus Networks, a fast-growing cybersecurity software company, today announced it has secured critical seed financing in an oversubscribed $1.5 million round. Stamus Networks offers a unique cyber security solution that more clearly illuminates threats by correlating network traffic analysis and threat detection in real time. The system arms security teams with unprecedented visibility and meaningful insights into their organization’s security posture and helps them rapidly detect and respond to incidents.
VisionTech Angels and Elevate Ventures, both Indianapolis-based investment groups, co-led the investment round. In addition, several independent angel investors participated. Both VisionTech Angels and Elevate Ventures will appoint representatives to the company’s board of directors.
“Stamus Networks addresses an important need in the marketplace for enterprise-scale cybersecurity and has created a unique enriched threat hunting solution,” said Vercie Lark, VIssionTech Angels investor and retired CIO. “Customers have told us the company’s Scirius platform allows them to replace several existing products and is very effective at proactively uncovering real threats. One of the most important factors we consider with any investment is the quality of the management team. Stamus Networks’ team brings a solid track record in the cybersecurity space with both commercial and technical successes.”
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“The management team at Stamus Networks has combined 69 years of experience in the cybersecurity space and has a history of achieving results,” said Chris LaMothe, CEO of Elevate Ventures. “With Stamus Networks’ existing customer base and the growing market demand, we have confidence they will be successful.”
Stamus Networks has been steadily building a loyal customer following since it introduced its first product in 2017. The company’s broad list of customers includes global financial institutions, a multi-national software company, a U.S. public school system, a European managed security service provider, and an international governmental body, among others.
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“We at Stamus Networks are excited to be able to reach and help even more organizations secure their networks and are thrilled to have received this strong vote of confidence from the investment community,” said Ken Gramley, CEO of Stamus Networks. “And we are thankful to all who worked so hard to close this round during these unprecedented times.”
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