What: GraniteEdge Networks, based in Bellevue. Who: Tony Naughtin, founder and former chief executive of InterNAP Network Services, is chief...
What: GraniteEdge Networks, based in Bellevue.
Who: Tony Naughtin, founder and former chief executive of InterNAP Network Services, is chief executive.
Who else: Ross Ortega, founder and president, and Ken Hines, founder and chief technology officer.
What it does: Sells appliances to large corporations to track suspicious behavior on a network, including outside intrusions to employees opening files and documents they don’t typically access.
History: Ortega and Hines started the company in 2003 and received $1.3 million from OVP Venture Partners to build a prototype.
The update: Naughtin was hired three weeks ago to lead the company, which also plans to announce today that it has raised $6.6 million in venture capital. Investors in the round include The Acartha Group, OVP and Outlook Ventures. The investment brings the total raised to $8 million.
Going forward: The company plans to use the money to build its work force and ramp up sales. In June, GraniteEdge had 12 employees; today it has 25.
The problem: Naughtin said GraniteEdge’s software is helpful because even with all the security systems a company has in place to protect against intrusions, it is still difficult to detect when an event has occurred.
Analogy: Ortega said a network is like a grocery. You can lock the door, but to sell merchandise you have to let employees and shoppers in.
GraniteEdge monitors the shoppers and employees by tracking their behavior.
Needles in haystacks: At one company, GraniteEdge tracked 13 million events on a network over nine days, 40 of which were suspicious. “You might find a haystack, but you don’t have the granularity to find the needles,” Naughtin said of how the company’s technology can monitor networks.
— Tricia Duryee