Strider Technologies Announces $10 million Series A Funding Round to Combat Nation-State Directed IP Theft and Supply Chain Risks
WASHINGTON, Oct. 27, 2020 /PRNewswire/ -- Strider Technologies ("Strider"), developer of the world's first software toolset enabling organizations to identify, assess, and remediate economic statecraft risk, announced today that it has closed $10 million in Series A funding led by Koch Disruptive Technologies. Ottawa-based One9 Ventures also joined the round alongside existing investor, DataTribe. Michael Palmer, president of i360, a wholly owned subsidiary of Koch Industries, will join Strider's board of directors.
Since launching in May 2019, Strider has established itself as the leading provider of proprietary data and software products enabling Fortune 500 companies and research institutions to identify, assess, and remediate nation-state directed activities targeting their personnel, intellectual property, and supply chains. Strider's capabilities are also leveraged by government agencies to tackle pressing national security challenges.
The investment comes at a time of rapid growth in demand for Strider's software platform and data sets as corporations, governments, and research institutions address gaps in existing security operations and tackle emerging compliance requirements.
"Strider is creating solutions to address organizational security gaps through its software that delivers immediate value without requiring any customer data or network access," said Byron Knight, Managing Director of Koch Disruptive Technologies. "We're thrilled to partner with the Strider team as they scale their operations and products, which we believe will provide significant benefits for any organization operating in today's rapidly evolving global environment."
With this latest round of funding, Strider will drive forward product research and development efforts, including introducing new data modules and features within its core offering, the Strider Intelligence Platform. Strider will also roll-out its newest data-driven product, Strider Shield, which enables organizations to identify high-risk activity and behavior across their systems. In addition, Strider is officially opening an office in Salt Lake City, Utah to access the region's growing tech ecosystem, talent, and customers located in the Western U.S.
"We founded Strider with a clear mission—create a capability that ensures our customers maintain a competitive edge in a rapidly evolving commercial environment where nation-states are targeting their talent and IP," said Greg Levesque, CEO & Co-founder of Strider. "Partnering with Koch Disruptive Technologies will enable us to drive this mission forward and expand our ability to deliver cutting-edge data and software to our customers that better safeguard their employees, protect their innovation and property, and secure their long-term competitiveness."
"Strider allows organizations to finally take a proactive posture to combating nation-state directed IP theft – a $600 billion annual problem in the U.S. alone," said Glenn Cowan, Founder of One9 Ventures. "We all know this is a global problem, however, and we see Strider quickly expanding to help Canadian companies better protect their innovation."
"Strider is a first-of-its-kind technology and capability that finally gives the commercial world a powerful tool to combat the massive problem of IP theft and economic espionage," said Mike Janke, Co-founder of DataTribe.
Strider delivers data and software tools that enable organizations to protect what matters most – their people and innovation. Our products enable security teams to take a proactive approach to combating security threats across their personnel and supply chains, including nation-state incentivized economic espionage. Strider has operations in Washington, D.C. and Salt Lake City, Utah.
SOURCE Strider Technologies, Inc.