SECURTYSNARES SECURES INVESTMENT FROM MICHIGAN RISE
East Lansing, MI – SecuritySnares, a cybersecurity company headquartered in Ann Arbor, has secured an investment from Michigan Rise Pre-Seed Fund III.
The company specializes in stopping business disruptions caused by malware. Their flagship product, RansomSnare, is a tool that detects and stops malicious encryption, known as ransomware. RansomSnare detects when ransomware is executed, stopping it before it encrypts the first file. The technology works without signatures, learning periods, or updates, and can be used offline or on older devices. A second product, WiperSnare, detects and stops wipers, a form of malware that erases or corrupts data.
“With ransomware attacks on the rise, SecuritySnares’ products are entering the market at the perfect time,” said Jeff Wesley Executive Director at Michigan Rise. “Their team has successfully created products that seamlessly integrate with their customer’s existing cybersecurity stack.”
Since launching, the company has scaled its RansomSnare product to the commercial scale, attracting the attention of strategic partners within the cybersecurity community. Their products are deployed across sectors and include hospitals, manufacturing companies, and educational institutions. The investment from Michigan Rise will support the expansion of their sales and marketing efforts, enabling them to hire key staff and launch targeted marketing campaigns.
About Michigan Rise
Michigan Rise is a wholly owned venture capital subsidiary of the Michigan State University (MSU) Research Foundation, operated in partnership with the Michigan Economic Development Corporation (MEDC). Michigan Rise provides early-stage funding to innovative companies that have the potential to transform industries and create jobs in Michigan.
About SecuritySnares
SecuritySnares was created to stop business disruption and damage caused by malware. Founded by cybersecurity experts and executives frustrated with advanced endpoint protection technologies, SecuritySnares’ mission is to supplement endpoint detection and response (EDR) technologies, enhancing them where they are weak, not replace it.
SecuritySnares develops focused products (called snares), designed to prevent damage from the highest cybersecurity risks businesses face. SecuritySnares’ leading product, RansomSnare, stops ransomware, including “zero-day ransomware,” while their newest product, WiperSnare, stops wipers.