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March 23, 2015

Wheelings & Dealings: Vidder Receives $12 Million Funding Round to Help Deliver Access Control Solution

By Laura Stotler, TMCnet Contributing Editor

The prevalence of cloud computing within the enterprise has led to a marked increase in cyber attacks and a need for companies to tighten their security measures and become more proactive. Vidder, a company that specializes in high-level access control for extended and distributed enterprises, understands the benefits and risks of the cloud and is stepping up its game.

The company has received $12 million in Series B financing, which will be used to help deliver its PrecisionAccess solution to global enterprises. The offering is designed to combat credential theft, server exploitation and connection hijacking to meet the specific needs of enterprises that are utilizing cloud applications and services.

PrecisionAccess dynamically connects only trusted and strongly authenticated users to similarly authorized systems, heading off cyber attacks before they can occur. The offering uses Vidder’s Software Defined Perimeter architecture to ensure enterprises are secure and breaches are intercepted in a timely manner.

“Cyber attacks are rampant,” said Mark Hoover, CEO of Vidder. “Many of the massive, continuing breaches we see today are the results of enterprise applications being exposed to all kinds of users in the extended enterprise of cloud apps and partner ecosystems. We’ve had great success protecting Fortune 500 companies in the US and are looking forward to now expanding globally.”

Indeed, Vidder will use the new funding to expand its global marketing efforts as well as sales and customer service. The company will work to better deliver the PrecisionAccess solution to targeted customers, who can take advantage of its built-in multifactor authentication capabilities. Vidder’s Software Defined Perimeter technology isolates application servers from all users, which largely reduces the attack surface from malicious users who might set out to exploit vulnerabilities in servers or applications.

This approach works particularly well in cloud environments, and has been promoted by the Cloud Security Alliance as a high-level access control security model. The approach has also been validated in public “hackathons,” attended by global participants who generate billions of attack packets to try to compromise a target server.

The new funding run was led by LDV Partners and includes support from Presidio Ventures (News - Alert) (News - Alert), ONSET Ventures and Voyager Capital, among others.




Edited by Dominick Sorrentino
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