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Vectra to create 100 jobs in Dublin

Written by Robert McHugh, on 21st Feb 2018. Posted in Ireland

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It was announced today that AI powered cyber-security firm, Vectra, has raised c.€30M Series D round to help enterprises detect and stop hidden cyber-attackers using artificial intelligence.

The investment will also support the establishment of a research and-development (R&D) centre in Dublin, Vectra’s first outside the U.S. This will create an estimated 100 jobs over the next five years and leverage Ireland’s emerging expertise in artificial intelligence.

The Vectra platform enables large enterprises, including financial institutions, automotive manufacturers and state universities to respond quickly and decisively to cyber-attacks. Using artificial intelligence to expose the fundamental behaviours of attackers, Vectra enables cybersecurity teams to make quick, better informed decisions about where to focus their time and deploy countermeasures to quickly mitigate active threats before they cause irreparable damage.

Today's investment round has been led by Atlantic Bridge, a global technology investment fund, with participation from the Ireland Strategic Investment Fund (ISIF) and a number of inside investors including Silicon Valley-based Khosla Ventures, Accel Partners, DAG Ventures, IA Ventures, AME Cloud Ventures and Wipro Ventures.

Kevin Dillon, Managing Partner at Atlantic Bridge and former Head of Microsoft Ireland, will join the Vectra Board of Directors, supporting the company as it scales up operations in Europe and continues to grow its customer base.

"We have been impressed by the remarkable growth of Vectra in this fast-moving cybersecurity market," said Kevin Dillon. "The increasing volume, creativity and effectiveness of cyberattacks means that enterprises must adopt AI to automate cybersecurity operations. We look forward to helping the company expand its global enterprise footprint."

Source: www.businessworld.ie

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