Seattle-area cybersecurity startup Polyverse raises $16M

Bellevue, Wash.-based cybersecurity startup Polyverse raised another $16 million to help sell its software used by government organizations, defense companies, and more.

Polyverse’s main product is “Polymorphing for Linux,” which scrambles open-source code without affecting its operation, shielding it from hackers looking to exploit weaknesses in the code.

Polyverse has been validated by the U.S. Department of Defense for mitigating zero-day attacks, intrusions that occur just as a vulnerability becomes public, such as the infamous WannaCry ransomware and hacks of companies including Equifax.

The startup recently signed a partnership with SUSE, the world’s largest independent open source software company. It also sells a Polyscripting for WordPress, which aims to remove the three most common attack vectors against the popular content management system.

Last year Polyverse made CNBC’s top 100 startups list. The company is led by CEO Alexander Gounares, a former CTO at AOL, CEO of Concurix, and Microsoft executive.

The new funding comes from primarily existing investors. Total funding to date in the 40-person company is $21 million. It recently hired Dr. Ralph Pascualy, the former CEO of Swedish Medical Group, to accelerate its healthcare offering.

The subject of discussion for decades, healthcare’s business model – the traditional, volume-driven, fee-for-services model – will be the most fundamental shift catalyzed by COVID-19. Health systems will need to reorganize around the unique needs of patients rather than around their own functional areas, and technology has the opportunity to play a critical role. Learn more about the impacts of shifting business models, and opportunities for innovation associated with this acceleration towards value.

Visit Providence DIG’s Resource Center to Access its COVID-19 Digital Insight Report: Evolution – Business Model Movement Toward Value

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Source: https://www.geekwire.com/2020/seattle-area-cybersecurity-startup-polyverse-raises-16m/

News – Seattle-area cybersecurity startup Polyverse raises $16M