BALTIMORE, MD (August 13, 2014) –The
Maryland Venture Fund (MVF), the equity investment arm of the
Maryland Department of Business and Economic Development (DBED), will invest $750,000 in
Triumfant, a leading provider of advanced threat detection and remediation technologies located in Rockville. The investment, split into two payments, will be completed by November 30. MVF invested alongside existing investors Novak Biddle Partners and Core Capital Partners using funds raised by InvestMaryland, a key initiative of Governor Martin O’Malley designed to spur growth and development of small, high-tech companies in Maryland.
“Maryland is the epicenter of cybersecurity, home to unmatched federal assets, industry-leading services and solutions providers and a growing community of promising startups like Triumfant that are developing cutting-edge products to keep our critical computer networks safe,” said Gov. O'Malley. “Maryland is committed to supporting entrepreneurs and innovators fueling the growth of our economy and we are looking forward to Triumfant’s continued success following this investment.”
“Maryland is quickly becoming ground zero in the battle against cyber threats,” said John Prisco, president and CEO, Triumfant. “Based largely on the involvement of organizations such as the Maryland Venture Fund making strategic investments in emerging security companies we are now able to attract the top talent that allows us to not only compete, but pull ahead of other technology centers around the country.”
Triumfant offers large commercial enterprises and government entities continuous protection against next-generation malware attacks, including advanced persistent threats (APTs), targeted attacks, in-memory attacks, zero-day attacks and rootkits. The company has been identified by
Gartner as one of the leading providers of endpoint security solutions. Applying mathematical theory, patented analytics and precision remediation capabilities, Triumfant enables organizations to detect and respond quickly to sophisticated attacks that bypass traditional signature-based defenses. By monitoring more than 500,000 attributes per machine – more than any other endpoint security solution on the market – Triumfant is able to accurately identify and investigate anomalous activities on endpoint systems. Triumfant stops breaches before they become full-scale attacks, and automatically repairs the machine and all collateral damage within minutes of the attack. Using Triumfant, organizations have constant assurance that sensitive data arriving on endpoints is safe, properly controlled within the enterprise, and compliant with industry standards and regulations.
Created by Governor O’Malley and passed by the General Assembly in 2011, InvestMaryland is a public-private partnership between the State and venture capital firms. It raised $84 million to spur growth in small, high-tech Maryland companies and is the largest venture capital investment initiative in Maryland’s history. Two-thirds of the funding – $56 million – is being managed by carefully screened private venture firms that will invest the funds and, if successful, return 100% of the principal and 80% of the profits to the State’s general fund. The remaining third of the InvestMaryland capital is largely allocated to direct investments by the state-run MVF.
The Maryland Venture Fund is a regionally recognized leader in seed and early-stage investing and a national model for state-supported investment programs. With nearly two decades of experience and numerous successful investments, MVF invests in highly innovative technology companies across the full range of industry sectors including software, communications, cybersecurity and life sciences companies in the areas of healthcare IT, medical devices and diagnostics.
