Seattle-based Praesidio, a two-year-old company that has aimed to protect financial institutions’ on-premises data from attack, will change its name to DefenseStorm on Thursday, a move it said reflects its expansion into protecting cloud-based data in any kind of company.
“Over the past two years, we’ve found a lot of banks, credit unions and the firms that serve them are moving some of their services to the cloud, so we’re expanding to address that,” said CEO Edgardo Nazario. “Now we’ll be helping anyone using the cloud.”
The firm’s software has been revamped to let administrators view historical data to better detect and diagnose attacks, it said. The software offers a redesigned user interface and an alert inbox that the company said can be taught to distinguish signal from noise.
Praesidio in April 2015 raised $1.7 million from undisclosed angel investors. Six months later it raised another $3.1 million from investors including Chairman Jeff Lunsford, Vice Chairman Harold Brewer and three banks: Citizens National Bank, Live Oak Bank and Washington Trust.
The 23-person company is preparing for another round of funding, intended to raise an additional $2 million from at least some of the same investors, Nazario said.
