TEDCO Invests in 6 New Maryland Cybersecurity Startups
COLUMBIA, Md. (October 28, 2015) – The Maryland Technology Development Corporation (TEDCO) announced today that six new Maryland companies received funding from its Cybersecurity Investment Fund (CIF). Jedvice, Point 3 Security, Topaz Research, Efflux Systems, Bricata and QI Solutions were each awarded $100,000 through CIF. The Fund supports Maryland companies looking to develop and commercialize new cybersecurity products or services by providing investments of up to $225,000.
“As the State’s first dedicated cybersecurity fund, we have seen an increase in momentum around Maryland’s information security ecosystem,” said Rob Rosenbaum, president and executive director of TEDCO. “CIF’s goal is to support innovative cybersecurity companies and accelerate their product development to help them get to commercial launch faster. With our funding and support, we are confident these six startups will successfully grow and create more jobs in Maryland. ”
Companies that have been awarded CIF funding include:
- Jedvice, LLC, located in Baltimore, is developing a new operational solution that will deliver high grade security for sensitive facilities, such as power plants, airports, or any other civilian or private sites. The company’s technology enables intrusion interception, with much lower costs of ownership and operation. By reducing these operational costs, Jedvice’s solution will enable new sectors of customers to afford to acquire and operate high-grade security solutions and to have their assets effectively protected.
- Point3 Security, Inc., located in Perry Hall, uses the Software as a Service model to provide a two-part managed offering –automated software coupled with human-backed analysis. Point3’s proprietary engine has the unique ability to understand normal and abnormal behaviors of a cyber-ecosystem. As it detects suspicious activity, it sends this information back to a threat professional for investigation.
- Topaz Research Inc., located in Bethesda, has developed Quatrove , a SaaS application that provides cybersecurity for business and personal information that is stored on a computer connected to the internet while also providing functionality in the main areas of project management, collaboration, time tracking, resource management & intelligence management.
- Efflux Systems, Inc., located in Millersville, proactively arms cybersecurity defenders with an integrated toolset that quickly automates the threat discovery process, making defenders more agile than their adversaries. Efflux’s Threat Discovery System (TDS), a cybersecurity hunt framework providing unparalleled insights, normalizes traffic within a network by utilizing advanced analytics to uncover malicious activity.
- Bricata, LLC, located in Baltimore, has developed a high performance, low cost, Next-Generation Intrusion Prevention System (NGIPS), ProAccel™ NGIPS, that combines ultra-high speed inspection performance, full packet capture, integrated forensics, and breach detection capabilities. Unlike traditional IPS solutions, ProAccel incorporates full packet capture (PCAP) as a standard feature, enabling Bricata to deliver critical forensic intelligence surrounding an incident, which allows security administrators to better evaluate threat alerts and determine if an attack requires further investigation.
- QIP Solutions, LLC, located in Rockville , guides users through regulatory compliance objectives with their Software as a Service (SaaS) product, QI Express. It can be flexible enough to easily add any type of regulatory compliance content and smoothly guide users to their objectives; thus protecting sensitive health data.
“The CIF Program has had a material effect on Bricata, enabling our company to develop innovative functionality, which help us differentiate ourselves from the behemoths within the cybersecurity industry,” said John Trauth, CEO and president of Bricata, LLC. “We are truly grateful to the State of Maryland for this opportunity and their assistance.”
Earlier this year, CIF invested in Protenus, Ridgeback and Strajillion. Funding from TEDCO’s CIF program help companies achieve early technical milestones that are critical to advancing their cybersecurity technologies toward commercialization. Qualifying cybersecurity technologies include all of the processes and mechanisms by which any devices or software that are part of, or connected to, any digital network are protected from unintended or unauthorized access, vulnerabilities, attacks, use, change or destruction. Additionally, computer and critical infrastructure security includes protection from unplanned events and natural disasters.
General guidelines and an application for the CIF can be found on the TEDCO website. The applications are accepted monthly by the 15th. Entrepreneurs interested in applying for the fund may contact Ron Kaese, Program Manager, by phone at 410-715-4170 or by email at firstname.lastname@example.org.
The Maryland Technology Development Corporation (TEDCO) is the go-to source for entrepreneurial support and guidance for start-ups and early-stage companies engaged in bringing innovative ideas to market. For more than a decade, the organization has provided funding, mentoring and networking opportunities to support Maryland’s innovation ecosystem. While founded by the Maryland General Assembly, TEDCO is an independent entity that makes seed/early-stage investments and manages private capital for angel and venture capital funds. It is frequently ranked as one of the most active seed/early-stage investors in the nation. The organization plays a key role in bringing research created in Maryland’s educational institutions and federal laboratories into the commercial marketplace. For more information on TEDCO and its programs and resources, visit www.TEDCO.md.