BreachQuest Raises $4.4M to Revolutionize Incident Response

BreachQuest Secures $4.4 Million Seed Funding to Revolutionize Incident Response

A new player in the cybersecurity space, BreachQuest, has officially launched following a successful seed funding round of $4.4 million. This early-stage startup is focused on building a cutting-edge incident response platform.

Investment Details and Backers

The funding was led by Slow Ventures, alongside contributions from prominent figures including Kevin Mahaffey, the founder of Lookout, and Sean Rad and Justin Mateen, co-founders of Tinder. These investors highlighted BreachQuest’s innovative approach and highly skilled team.

A Team Forged in National Security

BreachQuest’s core strength lies in its personnel. The company is comprised of former employees from U.S. Cyber Command, the National Security Agency, and the Department of Defense. This background is considered a significant competitive advantage.

Their proprietary platform, Priori, is designed to fundamentally change how organizations approach incident response and enhance their overall preparedness for cyberattacks.

Addressing the Critical Delays in Breach Detection

Currently, the average organization requires approximately 280 days to identify a security breach. This lengthy detection time, coupled with the typically manual recovery process, results in an average cost of nearly $4 million for U.S. businesses.

The Priori platform aims to drastically reduce these unacceptable industry standards, enabling organizations to detect and respond to intrusions with significantly greater speed. This rapid response capability allows for near-instant containment of compromises.

Focus on Inevitable Compromises

Jake Williams, BreachQuest’s co-founder and CTO, brings extensive experience as a former NSA hacker and the founder of Rendition Infosec, a cybersecurity firm acquired by BreachQuest. He emphasizes a proactive approach.

Williams explains that, despite preventative measures, determined adversaries will inevitably breach network defenses. He states that focusing on preparation for compromise, rather than solely on prevention, is a realistic and crucial strategy.

A Unique Market Position

BreachQuest also offers cybersecurity risk assessments for organizations involved in mergers and acquisitions. The company believes it currently faces limited competition due to the challenges of selling incident preparation services.

Many IT managers overestimate the effectiveness of their security controls, making it difficult to convince them of the need for incident response preparation. However, with the increasing prevalence of ransomware and other cyber threats, BreachQuest anticipates a growing market demand.

Future Development of the Priori Platform

The $4.4 million in seed funding will be used to accelerate the development and deployment of the Priori platform. Future enhancements will focus on streamlining forensic evidence collection and improving coordination among response team members.

Williams notes that incident response is inherently chaotic, and infrequent practitioners often struggle to manage all aspects of an investigation. The core challenge lies in efficiently gathering evidence and maintaining a clear understanding of the response’s progress.