June 13, 2016
Exiger, Venture leaders back cyber security innovator
TORONTO--Exiger, the global regulatory and financial crime, risk and compliance firm, together with Generation Ventures, MaRS Investment Accelerator Fund, Export Development Canada and Trellis Capital announce an equity investment in RANK Software, a Toronto-based company that is pioneering the use of big data analytics for cyber security solutions.
One of the first firms to leverage big data analytics to the cyber security space, RANK's core offering is an enterprise security analytics and visualization platform focused on high velocity, real-time contextual and behavioral analytics and malware analysis. Designed to rapidly detect and prioritize threats across a wide range of Internet-connected applications and devices, the RANK solution provides an unrivaled level of forensic and malware analysis while improving the overall efficiency and accuracy of the monitoring and investigation process.
"The future of threat monitoring and investigations of all types will depend on our ability to develop and deploy solutions that combine data science, behavioral analytics, and machine learning to identify and prioritize risk quickly," said Michael Beber, Exiger President and CEO. "RANK has shown that it has both the technological and real-world experience to develop revolutionary solutions that weed out noise and focus critical investigative resources on material threats."
Led by a team of technology and data science veterans from Amazon, Blackberry, and Microsoft with extensive experience developing and scaling digital enterprises, RANK has developed industry-specific cyber security solutions tailored for the financial services, healthcare, government, energy and telecom sectors.
"In a landscape in which mission-critical services are all reliant upon connections to the Internet, rapid detection and response to cyber intrusion is critical," said Dr. Niranjan Mayya, Founder and CEO of RANK. "We are pleased to partner with such a powerful group of investors who will help catalyze the growth of our solutions not only through their capital investments, but also through their industry expertise and relationships in the risk monitoring and investigations space."
Alistair Mitchell, President of Generation Ventures, a Toronto-based venture and growth equity firm, commented: "Mobile, cloud-enabled and Internet of Things are driving an explosion in connected devices, with more than 50 billion devices expected in 2020 compared to 10 billion today. As a result, the surface area for potential attacks will grow 10 times larger in the next five years. Traditional cyber security solutions provide an overwhelming amount of potential intrusion data without context or priority. RANK's application of Machine Learning and Artificial Intelligence will revolutionize cyber security response by allowing corporations to focus on the highest priority threats."