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Cigent Announces $7.6M Series A Funding Round; In-Q-Tel, CyberJunction, WestWave Capital ParticipateFORT MYERS, Fla., April 27, 2021 /PRNewswire/ -- Cigent® Technology, today announced the close of a $7.6M Series A funding with In-Q-Tel®, CyberJunction, WestWave Capital, and several prominent individual investors participating. The funding enables Cigent to commercialize and bring to market Cigent Data Defense. This breakthrough approach protects companies and individuals from ransomware, data theft, and malicious insider attacks, ending 30 years of failure by the cybersecurity industry. Cigent Data Defense leverages software and hardware products to prevent network, endpoint, and cloud-based data infiltration even after a network has been breached. Cigent Data Defense combines Cigent's Dynamic Data Defense Engine (D³E®) software with Cigent Secure SSDs™ and takes a different approach to protect against data theft and ransomware than previous cybersecurity technology. Cigent's D³E for Windows® is the first and only data defense software to rely on file-level Zero-Trust access controls to protect sensitive files against any threat. D³E relies on multi-factor authentication and encryption to secure sensitive files anywhere they are shared or stored, even after a security breach. D³E can be used as a standalone software solution or in tandem with Cigent Secure SSDs. Cigent Data Defense is designed for use by individuals, small-to-medium-size businesses, corporate enterprises and government entities. "In-Q-Tel scouts the global market for cutting-edge technologies that have the potential for high national security impact, and we're excited to be an investor in Cigent, which has built technology to protect against ransomware, data theft and malicious insider theft," offered Bentz Tozer, Senior Member, Technical Staff at In-Q-Tel, Inc. Several prominent individual investors have participated in Cigent's funding:
A unique fusion of world-leading data recovery, cyberthreat, and storage experts originally architected Cigent Data Defense to protect sensitive data inside select U.S. government agencies. Cigent's founders handled sensitive work on behalf of key U.S. government agencies on advanced data destruction and recovery projects. They successfully retrieved data from severely damaged and encrypted media critical to assisting national security and highly publicized law enforcement actions. In the wake of the Edward Snowden insider theft of classified information, which easily bypassed software-only security layers, the U.S government-funded Cigent team explored the concept of self-defending storage to combat data theft from any vector. The multi-year research and development effort resulted in the world's first storage devices with active and embedded Machine Learning-based ransomware detection and advanced proprietary firmware-based cybersecurity protections. This approach to data security proved so effective that Cigent received additional backing from public and private sources to broadly patent its technology and develop commercially available products in the interest of national security. The result is the Cigent Data Defense family of products introduced today. "We've received support well beyond capital from our investment group,"said Bradley Rowe, CEO of Cigent."Several of our investors are directly responsible for commercial engagements the Company now has in place. In addition to the publicly disclosed investment, the Company enjoys significant sources of non-dilutive capital from governmental partners." About In-Q-Tel About WestWave Capital About CyberJunction About Cigent Cigent, Secure SSD, D³E, and Dynamic Data Defense Engine are registered trademarks of Cigent Technology, Inc. in the United States and other jurisdictions. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners. The Cigent products mentioned in this release may be covered by one or more patents, including at least U.S. Patent Nos. 10437983, 10521611, 10282117, and 10095431 with additional patents pending in the U.S., Europe, Japan, Israel, and other jurisdictions. Editorial Contact: View original content:http://www.prnewswire.com/news-releases/cigent-announces-7-6m-series-a-funding-round-in-q-tel-cyberjunction-westwave-capital-participate-301277460.html SOURCE Cigent Technology |