Genacast Ventures Announces Investment in Riskive
By David Horowitz
Genacast Ventures is pleased to announce our most recent investment in Riskive, a cybersecurity software company based in Baltimore, Maryland. Riskive provides threat detection software preventing cyber attacks on social networks. Genacast co-invested in the company with our friends Mark Levine and Pascal Luck at Core Capital along with several prominent angel investors including Frank Bonsal (founder of NEA), Greg Cangiolisi, Bill Boyle, and Andrew Eye.
Riskive was started by cybersecurity serial entrepreneur James Foster (“Foster”), whose last company Ciphent was one of the largest private companies in Baltimore before being acquired by Accuvant. Foster was also an early employee at two other prominent cybersecurity start-ups: Foundstone (acquired by McAfee) and Guardent (acquired by Verisign).
Riskive provides software to enterprise and government customers to warn them about cyber attacks emanating from social networks. Traditional cyber attacks focused on infiltrating the network directly. Today with the growth of social network and cloud computing, social networks provide a new attack vector for cyber attackers. Enterprises seek intelligence and real-time detection of these threats to safeguard their users, brand and corporate data.
While Riskive was only recently founded at the beginning of 2013, the company has achieved several impressive milestones. The company has released a beta version of the product and has landed several initial paying enterprise and government customers. Riskive was recently named Incubator Company of the Year for state of Maryland. Riskive also won first place for best early stage company at the 2013 Mid-Atlantic Venture Conference. These are very impressive accolades for a company that is less than a year old!
We are extremely excited to work with Foster, his co-founder Evan Blair, and the rest of the Riskive team to help make the company a great success.
For more information on the investment, please see the company’s press release: http://riskive.com/riskive-closes-2-2m-seed-round-led-by-genacast-ventures-and-core-capital/