Welcome!

IBM Cloud Authors: Pat Romanski, Elizabeth White, Liz McMillan, Yeshim Deniz, Stefan Bernbo

News Feed Item

Damballa Announces Plans for Company-Wide Growth and Charges Ahead with New Chief Executive Officer, Val Rahmani

Damballa Welcomes New CEO, Secures Third Round of Funding and Expands Its Board of Directors

ATLANTA, Nov. 17 /PRNewswire/ -- Damballa, Inc., the company that stops Internet-based criminal use of enterprise networks, announced today that Val Rahmani has joined the company as its Chief Executive Officer (CEO). Damballa also announced today that it has raised a third round of funding, and that Jim Gauer and F. A. (Fran) Dramis have joined its Board of Directors.

Damballa's unique approach finds previously unidentified threats used in the escalating wave of cybercrime, then closes the hidden two-way communications channels that cybercriminals use to manipulate compromised corporate systems. These attacks are silent, stealthy and the weapon of choice for online attacks, fraud and abuse.

"These threats infiltrate even the best protected enterprise networks and turn corporate assets into contributors for criminal activity. That's why senior executives increasingly see a proactive defense as a critical part of their fiduciary responsibility," says Val Rahmani, Damballa's new CEO. "I am very excited by Damballa's vision and our unmatched ability to find and stop these threats."

Rahmani brings over 25 years of customer-driven business and technical leadership to Damballa. Most recently, she served as General Manager of IBM's Internet Security Systems (ISS) division. Prior to ISS, Rahmani directed several multi-billion dollar hardware, software and services businesses.

As CEO, Rahmani plans to significantly grow Damballa's customer base, extend the company's reach into new markets, and accelerate research and product development. The company is already moving aggressively to hire top-tier talent to complement its current staff.

Damballa's new round of investment was led by Palomar Ventures. Current investors InterWest Partners, Noro-Mosely Ventures and Sigma Partners all participated in this round. Jim Gauer, Managing Director at Palomar and veteran IT venture capital fund manager has joined Damballa's board, as has Fran Dramis, formerly Senior Vice President and CIO at Bellsouth. Mr. Dramis currently serves on multiple public and private boards.

Industry experts have welcomed Damballa's news. "The threat has evolved, and with few exceptions the security industry has not," says Joshua Corman, Research Director for Security at The 451 Group, a leading technology analyst organization. "While the majority of time and money is spent on static compliance checklists, dynamic adversaries have expanded from ego-driven vandals to profit- and politically-driven Advanced Persistent Threats (APTs). Stealthy, sophisticated malware masterfully exploits the blind spots of legacy security - leaving enterprises exposed to loss and unwitting participation in deplorable forms of criminal and state-sponsored campaigns. We're pleased to see Damballa focused on modern, under-addressed threats."

Fran Dramis, industry veteran and new Damballa board member, comments that, "Damballa has a unique - and uniquely effective - product that keeps corporate assets from being used for criminal activity. It's this ability to both protect and integrate seamlessly with other solutions that's so interesting, and why Damballa presents a great growth opportunity to build a next-generation computer security company."

"This investment is a huge vote of confidence in our people and in our technology," says Rahmani. "We now have both the ability and the resources to deliver what's fundamentally missing in network security - the ability to stop even the most sophisticated cybercriminal threats."

For more information on Damballa solutions, please visit www.damballa.com or call 404-961-7400.

For an ongoing conversation about targeted threats, please visit the Damballa blog, The Day Before Zero, at http://blog.damballa.com/.

About Damballa, Inc.

Damballa closes enterprise security gaps by rapidly identifying and disrupting the open communications channels that online criminals use to infiltrate enterprise networks. These products and services integrate easily with existing security investments for accurate, cost-effective protection against hidden breaches that evade other solutions. Damballa stops these breaches through high-fidelity detection, powerful mitigation guidance for botnet malware, and simple passive integration with existing network and security infrastructure. The result is a smarter, more flexible security solution that responds to a wider range of current and future online threats. Damballa is privately held and headquartered in Atlanta, Georgia.

SOURCE Damballa, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...