French startup cybersecurity platform CrowdSec announced today that it has raised 14 million euros ($13.7 million) in new funding to expand its operations in the US and increase its customer network tenfold.
Supernova Invest led the Series A round, and Breega also participated. Including the new funding, the company has raised €19.5 million ($19.1 million) to date, according to Crunchbase.
Founded in 2019, CrowdSec offers an open source security engine that analyzes the behavior of Internet Protocol addresses. The company’s platform focuses on real-time threat detection, security automation, data breach prevention, reputation and behavioral analysis to respond to attacks and share signals across the community.
Collaboration is central to CrowdSec’s offering, with data collected by the platform from Sysadmins, DevOps and SecOps being shared with others to outsmart cybercriminals and “burn away all their previous guises”. Described as the world’s first collaborative intrusion prevention system, access is granted through an open-source, MIT-licensed solution with a database of malicious IP addresses to block all community members, generating a real-time, crowdsourced threat intelligence system that can counter cyber attacks around the world.
CrowdSec’s platform is said to detect and deter most types of attacks regardless of the increasingly sophisticated nature of cybercrime, such as scalping to bots, distributed denial of service, ransomware, Voice over Internet Protocol abuse, troll farms, brute force credentials, scans and much more. It does this while creating a real-time database of IP addresses under the control of cybercriminals.
The company claims that its customers experience an immediate reduction in the number of incoming cyber attacks by more than 90%. In the event that cybercriminals change the IP addresses they use to carry out attacks, CrowdSec’s network will delete the previous one and share the new one with users within minutes.
“At the heart of CrowdSec is a simple but powerful idea: community action,” CrowdSec CEO Philippe Humeau said in a statement. “Forty years of cybersecurity have shown that isolated cybersecurity defenses are largely ineffective, regardless of the enormous resources invested by companies, institutions, and governments. CrowdSec’s unique strength lies in numbers and applying a concerted, global approach to a global problem. Legitimate Internet users outnumber cybercriminals tens of thousands to one, all of whom can now join forces to protect themselves and each other.”
CrowdSec’s software has been installed more than 100,000 times by users including governments, major e-commerce companies, and media and financial institutions. The new funding will be used to increase the company’s headcount from 20 to 45, develop its technical suite, expand its operations in the US and expand its network around the world.
Image: CrowdSec
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