ContraForce Secures $3.25M Seed Round Led by GALLOS Technologies and DataTribe

MCKINNEY, Texas, Oct. 31, 2024 ~ ContraForce, a security service delivery platform company, has recently announced the successful closure of a $3.25 million seed funding round. The round was co-led by GALLOS Ventures and DataTribe, two prominent venture capital firms. This funding will enable ContraForce to further its mission of automating security operations and expanding opportunities for managed service providers.

Founded in 2021 in McKinney, Texas, ContraForce has developed a revolutionary platform that allows service providers to increase their monthly recurring revenue, improve margins, and deliver better outcomes for their clients. In the past 12 months alone, the company has seen a 400% growth in annual recurring revenue and has established a strong customer base and distribution partners worldwide.

The ContraForce platform utilizes proprietary AI and automation technology to streamline the time and expertise required by service providers to manage security incident and event management tools such as Microsoft Sentinel, Microsoft Defender, Splunk Enterprise Security, IBM QRadar SIEM, Crowdstrike Falcon XDR, and SentinelOne Singularity XDR. In recognition of its innovative approach to security services delivery, ContraForce was named the 2024 Security ISV of the year by Microsoft Intelligent Security Association. The company also received the Most Promising Early-Stage Startup award at the recent SC Awards and was selected as a SINET16 Innovator.

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With the ContraForce platform, service providers can onboard clients within minutes and easily manage all their clients' security tools simultaneously through a single dashboard. This streamlined process is crucial in today's cybersecurity landscape as there is a massive opportunity for managed services in this industry. According to a recent report by McKinsey & Company, the total available market for cybersecurity managed services is estimated to be between $400-500 billion. However, current solutions only penetrate 5-10% of this market due to a shortage of qualified cybersecurity personnel. This highlights the urgent need for automated solutions like ContraForce to bridge this gap.

The recent funding round was oversubscribed and included participation from angels and strategic partners. In total, ContraForce has raised $5.25 million in investment, which will be used to accelerate the release of new product features and invest in sales and marketing efforts in preparation for a future Series A round.

William Kilmer, General Partner at GALLOS Ventures, expressed his excitement about the investment, stating that GALLOS specializes in investing in and building great security companies. He believes that ContraForce addresses one of the biggest challenges in today's market by automating incident investigation and remediation workflows while still allowing critical decisions to be made by security analyst teams. As a former CEO of a managed security services provider (MSSP), Kilmer sees tremendous potential for ContraForce to scale the managed security services market efficiently.

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Stan Golubchik, Chief Executive Officer and Co-founder of ContraForce, also commented on the investment, stating that their goal is to help service providers simplify the delivery of scalable security services through automation. He believes that this investment from GALLOS not only provides them with the necessary capital but also brings on a partner who understands how to build and grow security businesses globally.

ContraForce was initially founded with an investment from DataTribe, a Maryland-based cybersecurity foundry that has successfully invested in other cybersecurity startups such as Dragos, Blackcloak, and Strider Technologies. Maurice Boissiere, Partner at DataTribe, expressed his satisfaction with ContraForce's progress towards protecting small and mid-sized enterprises through their partnerships with managed service providers (MSPs) and MSSPs. He looks forward to working with William Kilmer given his experience in both venture capital and operations within this space.

As part of the investment round, William Kilmer has joined ContraForce's board of directors as a General Partner at GALLOS Ventures. With this new funding and partnership, ContraForce is well-positioned to continue its growth and make a significant impact in the cybersecurity managed services market.

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