TrapX raises $18 million for cyber deception technology

TrapX Security, a start-up based in San Jose, California, closed an $18 million financing round for its cyber deception technology.

The funding round was led by Ibex Investors. Existing TrapX investors, such as BRM, Opus Capital, Intel Capital, Liberty Technology Venture Capital, and Strategic Cyber Ventures also participated in the round.

TrapX’s deception technology has a unique approach to threat detection as a “right data” problem, rather than a “big data” problem allowing security teams to change the economics of cyber-attacks. The company was founded in 2012.

Last month, TrapX announced the release of the latest enhancements to the company’s DeceptionGrid platform, which allows its customers to launch a virtual army of artificial users to expose cyber attackers. The company has also formed a cyber-deception user community called DeceptionNet to share deception strategies, new types of traps (decoys), and third-party connectors to greatly enhance the effectiveness of deception.

http://www.trapx.com