Montreal’s Delve Labs, which offers an AI-based security management platform, today announced they have raised new funding.
The round was led by 3dot6 Ventures and Desjardins Capital with participation from BDC Capital. Delve Labs preiously raised a seed round in 2016.
Founded in 2014 by former professional hacker CEO Gabriel Tremblay, Delve Labs offers an AI-driven, comprehensive vulnerability management and prioritization solution, which includes asset discovery, scanning, vulnerability identification, vulnerability prioritization and remediation, all powered by the Delve AI Engine™. The company’s focus on prioritization helps companies identify key security issues and reduce risk.
Tremblay said the new funding will help Delve Labs expand and increasing sales and marketing across North America.
“This next round of funding will allow Delve to continue to offer vulnerability assessment and prioritization tools to companies across North America and beyond,” said Tremblay. “The team here is motivated to further build out our product offering and continue fulfilling the goal of helping our clients reduce their security risk in today’s complex business environment. With the support of our investors, we look forward to helping even more companies better secure their assets with the help of AI.”
“As a first-hand user of Delve Labs’ solution, Desjardins Group understands the benefits it brings to a company looking to better secure complex network environments,” said Desjardins Capital’s Mark Anthony Sdao. “Delve is changing how businesses address security concerns and making vulnerability management more manageable and successful. We are very excited to continue to partner with Delve as they expand their solution’s reach.”
In 2016, Tremblay told us that his product’s ease of use was a competitive advantage.
“We rely a lot on AI, so for lots of stuff that people usually need security experts for, it can be done by Warden with tech-aware people who don’t have to be experts,” said Tremblay.
Tremblay used to sell his services as a professional hacker, hired by big Canadian companies to find security vulnerabilities and solutions. These large companies already have their own security teams but still work with security experts for certification purposes.
“There’s already a lot of security products on the market, but despite that, most large businesses can’t cover more than about 20 per cent of their assets in terms of vulnerability assessment. Usually they require a lot of security expertise, and we built Warden for that specific problem,” said Tremblay.
Tremblay also runs NorthSec, the largest on-site security conference in the world held in Montreal for five years now. Professionals from around the world come every year along with 600 spectators and Tremblay runs the conference with about 30 volunteers.
Based in Montreal, the company also operates out of offices in New York City and San Francisco.