Seattle-area cybersecurity startup Polyverse raises $16M – GeekWire
Bellevue, Wash.-based cybersecurity startup Polyverse raised another $16 million to help sell its software used by government organizations, defense companies, and more.
Polyverse’s main product is “Polymorphing for Linux,” which scrambles open-source code without affecting its operation, shielding it from hackers looking to exploit weaknesses in the code.
Polyverse has been validated by the U.S. Department of Defense for mitigating zero-day attacks, intrusions that occur just as a vulnerability becomes public, such as the infamous WannaCry ransomware and hacks of companies including Equifax.
The startup recently signed a partnership with SUSE, the world’s largest independent open source software company. It also sells a Polyscripting for WordPress, which aims to remove the three most common attack vectors against the popular content management system.
Its software runs on-premise, in the cloud, and on IoT devices.
Last year Polyverse made CNBC’s top 100 startups list. The company is led by CEO Alexander Gounares, a former CTO at AOL, CEO of Concurix, and Microsoft executive.
The new funding comes from primarily existing investors. Total funding to date in the 40-person company is $21 million. It recently hired Dr. Ralph Pascualy, the former CEO of Swedish Medical Group, to accelerate its healthcare offering.
Polyverse raised $8 million in February. The latest round includes a conversion of previously-issued SAFE notes, a form of a convertible security.