SEATTLE--(EON: Enhanced Online News)--Critical Informatics, an established and growing provider of managed cyber-security solutions with extensive expertise in financial services, healthcare and public sectors, announced today the close of its Series A funding of $3.25 million, led by Alan Frazier’s East Seattle Partners. In conjunction with the round, the company is appointing a new CEO, Garrett Silver, who will lead the company through its next phase of growth.
“Security analytics and related technologies have failed to deliver the value they promise, because companies lack the human expertise to act on them”
Critical Informatics will use the funds to build on its deep roots in managed security, as well as relationships in key industries and government agencies, to deliver entirely new, human-assisted intrusion detection incorporating sophisticated security analytics services. It will invest in product development, sales, and marketing, and will capitalize on the company’s patent for a novel method of advanced human-assisted incident detection.
“Security analytics and related technologies have failed to deliver the value they promise, because companies lack the human expertise to act on them,” said Silver. “We use sophisticated security analytics as a layer underneath human expertise, giving our professionals a sort of ‘augmented reality’ view of the threat landscape our customers face. We are thrilled to welcome an exceptional investor in Alan Frazier and East Seattle Partners to support this vision.”
Critical Informatics has been headquartered in Bremerton and is now adding a Seattle office. It provides a comprehensive, cost-effective managed cyber-security detection and response service to mid-sized organizations, particularly government agencies and healthcare and financial services companies. More than off-the-shelf security options, Critical Informatics enables compliance with heightened regulatory requirements and reduces the time between compromise and eradication to minimize the risk of lost records, funds, and critical service continuity.
Silver brings extensive technical, management and financial experience from his years at ShareBuilder and, later, as Managing Vice President at Capital One Investing. ShareBuilder, a VC-funded online brokerage and investment firm, was acquired by ING DIRECT in 2007 for $220 million, which was in turn acquired by Capital One in 2012 for $9.0 billion. Silver joins company founder Mike Hamilton, who continues to lead product strategy as Chief Information Security Officer; Mike Simon, who leads product development and implementation as Chief Technical Officer; and Fred Langston, who heads up consulting and professional services.
East Seattle Partners is the personal investing entity of Alan Frazier, Founder and Chairman of Frazier Healthcare Partners, a leading provider of growth and venture capital to the nation’s healthcare companies. In addition to his role as investor, Mr. Frazier has joined Critical Informatics’ Board of Directors, where he will serve in an active advisory capacity drawing on his experience from over 30 years of significant success building companies in healthcare, with extensive data security requirements and threat exposure.
“Qualified security practitioners are in short supply, and they are expensive and difficult to retain – especially for mid-sized companies,” said Mike Hamilton, founder of Critical Informatics. “Our fusion of skilled human analysis with world-class detection analytics, which is reflected perfectly in our first patent, means continuous improvement in capabilities as well as lower costs for us and our customers. We’re able to provide managed incident detection and response at a fraction of the cost of a single FTE, and support an underserved, yet critical market.”
About the Critical Informatics Executive Team:
Mike Hamilton, CISSP, founder and former CEO at Critical Informatics, previously served as a Cybersecurity Policy Advisor to the State of Washington, CISO of City of Seattle, and is formerly the Managing Consultant for VeriSign Global Security Consulting. Mr. Hamilton will continue as company evangelist, as well as Chief Information Security Officer post funding.
Mike Simon, CISSP, Adjunct Professor and Director Applied Research at the University of Washington’s Center for Information Assurance and Cybersecurity, will continue to direct the development of the technology at Critical Informatics as CTO.
Fred Langston, CISSP, CCSK, formerly the Global Security Services Product Manager and Governance, Risk, and Compliance Practice lead at VeriSign (acquired by SecureWorks in 2009), will continue to manage the company’s consulting division.
Garrett Silver, CFA, led Marketing, Digital, Product, and Analysis for Capital One Investing (formerly ING DIRECT and ShareBuilder) where he was the executive lead at Capital One’s Seattle office. His tenure at ShareBuilder included a role as CIO. With this funding he joins Critical Informatics as CEO.
About East Seattle Partners:
East Seattle Partners (“ESP”) is the investment management entity responsible for allocating and investing the personal capital of Alan Frazier outside of his activities at Frazier Healthcare Partners. ESP makes direct investments in early stage and mature middle market companies, as well as multi-family and commercial real estate properties. With a focus on the Pacific Northwest, the firm takes an active value-add approach, looking to partner with world-class entrepreneurs, management teams, and business partners to create long term value in its venture, private equity and other portfolios.
Learn More about Critical Informatics at www.criticalinformatics.com