Another day, another freshly-funded security startup.
With $5.3 million in seed financing under its belt, Waltham-based security company Allure plans to improve its data loss detection and response platform, as well as double its team from 13 to 26 members by the end of 2018.
The round, which was announced Thursday, was led by Boston-based venture capital firm Glasswing Ventures with participation from Greycroft, Portage Partners and Zetta Venture Partners.
“With this recent funding, we will be able to help our initial customer organizations to significantly reduce the likelihood of their experiencing a data breach through the use of our new, patented approach of tracking document behavior,” said Allure Security CEO Mark Jaffe.
As part of the funding announcement, Glasswing managing partner Rick Grinnell will join Allure Security’s board of directors.
The company was founded in 2009 in a Columbia University research lab by a team led by Dr. Salvatore Stolfo, an AI and data security scientist. In November, Allure added Mark Jaffe, a cybersecurity executive, as CEO.
The premise behind the startup is that “enterprises should be able to work without borders, and with the assurance your documents are secure wherever they go.” To that end, Allure’s data loss detection and response (DDR) technology can track and protect documents inside and outside of an organization’s walls.
Allure’s goal is to help companies detect data breaches earlier and to stop data loss in real time, reducing the cost and time spent on post-incident investigations.
“We are spending the beginning of the year building more product enhancements into our platform based on our research team's patented deception and decoy technologies, so expect to see some new product releases in the near future,” Jaffe added.
Though Allure was founded in New York City, the startup relocated to Boston in 2017. If you’re interested in stopping bad guys at a fast-growing security startup, Allure is currently on the lookout for top talent in engineering, sales and marketing.
