Washington-based Tidal Cyber, which builds so-called “threat-informed” security technology, has closed a $4 million funding round led by Ultratech Capital Partners. Other backers included new investors Access Venture Partners, TFX Capital, VIPC Virginia Venture Partners, Dreamit and entrepreneur Adam Vincent. Existing investors participating in the round included First In, BlueWing Ventures, SaaS Ventures, Riverbend Capital, Blu Venture Investors and StoneMill Ventures.
“We are incredibly proud of the rapid progress we have made to date and are excited to achieve this important milestone,” said Tidal cofounder and CEO Rick Gordon, a former MITRE executive and venture fund manager. “This capital will provide us with resources we need to enable enterprises of all sizes to achieve a threat-informed defense.”
Dale Davis, a principal at Alexandria, Va.-based Ultratech, hailed Tidal’s approach as the “more proactive strategy” required to fight off more frequent and more damaging cyberattacks witnessed today.
Cyber veterans
Tidal Cyber was founded in January by three threat intelligence veterans — CEO Rick Gordon, chief technology officer Richard Struse and chief innovation officer Frank Duff. The trio brings combined experience of working at MITRE, the Department of Homeland Security and other security organizations.
The company’s cyber platform provides “threat-informed defense” — or a strategy that first takes into account adversaries’ tactics and techniques. The company believes that any security system needs to first gain a deep understanding of the threat actors before crafting optimal defenses.
“Threat-informed cyber defense is based on understanding how adversaries are likely to attack your organization and using that knowledge to ensure you have the optimal security solutions in place,” said Struse. “Our goal is to enable security teams to maintain a ‘single source of truth’ for all data regarding relevant threats and countermeasures.”
Tidal’s Community Edition was named a Top Cybersecurity Product Unveiled at Black Hat 2022. The company was among CSO’s list of best security startups to watch for in 2022.
Cyber, Investing Smarts
CEO Rick Gordon is a 25-year industry veteran with expertise in cybersecurity, technology investing, business strategy and early-stage venture development. He was previously MITRE’s managing director of programs, building initiatives such as the Center for Threat Informed Defense (CTID), ATT&CK Evaluations, and MITRE ATT&CK Defender (MAD) Training.
Early in his career, Gordon worked in technology investment banking at Bear Stearns. Later, he served at Inova Strategic Investments, the corporate venture fund of Inova Health System. His notable investments in healthtech include Deciphex, CMT Solutions, Cyrano and Babyscripts. He also served at MACH37, a specialized accelerator for cybersecurity startups. MACH37 launched leading cybersecurity companies such as Huntress, Syncurity, Atomicorp and Black Kite. Gordon received his M.B.A. from the Darden School at the University of Virginia and his BS in Engineering from the U.S. Naval Academy.
Commercial Real Estate
MacKenzie Companies
Law
Nemphos Braue
Financial Services / Investment Firms
Chesapeake Corporate Advisors
Commercial Real Estate
Monday Properties
Venture Capital
Blue Delta Capital Partners
Internet / Technology
Foxtrot Media
‘Deep Tech’ Focus
Ultratech Capital Partners is the venture arm of London-based Damazein Family Office, and was founded by Damazein Chairman Damien Perl. It is a specialist investor focusing on startups in “deep tech.” Over the last 18 months, the firm invested in 10 early-stage companies through its “Critical Technology” fund and made a number of follow-on investments. Ultratech’s other notable investments include Cognitive Space and Quantum Brilliance. So far, its portfolio companies have closed two IPOs on Nasdaq.
Dale Davis, a 30-year industry veteran in commercial and military organizations, heads Ultratech’s operations as principal. He has been associated with Damazein’s business ventures since 2006, when he led the Middle East operations of Global Strategies Group. He went on to helm a group firm, Global and National Security Systems (Nasdaq: GDEF), guiding it to an IPO via a SPAC, or special purpose acquisition company. Davis was previously a marine counterintelligence officer.
