New funding to boost Haystax product expansion and growth
Kansas City, MO (December 12, 2016) – Fishtech, through its Fishtech Ventures group, is pleased to announce a strategic investment in Haystax Technology, a leading security analytics platform provider based in McLean, Virginia. The partnership will serve to expand Haystax Technology’s product offerings into new commercial markets such as financial services and healthcare. This funding will bolster sales and marketing efforts, including the development of a channel partner program to extend customer reach beyond the company’s roots in homeland security and public safety.
Fishtech will add Constellation, Haystax Technology’s flagship security analytics platform, to its portfolio of best-in-class, next-generation security solutions that deliver operational efficiencies and improved security posture to organizations undergoing digital transformation. Fishtech CEO and Founder Gary Fish and Gregg Martin, Vice President of Enterprise Architecture, Fishtech, will join Haystax Technology’s Board of Directors.
“Haystax Technology will become a go-to partner as we usher organizations through digital transformation,” said Fish. “We’re thrilled to join them as they lead the security analytics market into a new phase of multi-billion-dollar growth.”
Fishtech anticipates bundling Haystax’s solutions with other complementary solutions to reach existing customers, as well as helping to develop and build a scalable channel sales program to reach additional customers.
“Security analytics is an emerging growth market right now, and it’s significant that Fishtech sees far-reaching value in our platform and its patented model-first approach,” said Bryan Ware, CEO of Haystax Technology. “With this new funding and partnership we will be equipped to further expand our high-profile customer presence and enhance our product development.”
Haystax’s patented risk management technology has proven to be highly scalable across several solutions, giving decision makers the actionable intelligence they need to mitigate insider threats and ensure public safety. Based on feedback from Haystax’s existing customer base, Fishtech expects that Haystax will be able to apply this scalability to new, high-growth technology markets.
“We are excited to be working with Gary and his team again,” said Jeff Frient, Partner, Edgewater Funds. “Our early investment in Gary’s first company provided a tremendous outcome to our stakeholders. As a cyber security pioneer, Gary’s guidance and input will be invaluable to Haystax.
“In fact, the entire Fishtech team brings expertise and commitment around next-generation security solutions counteracting cyberattacks and crimes. This can only serve to broaden Haystax’s market expansion in this new emerging security analytics platform space, which is ripe for opportunity.”
Fishtech Group is a data-driven cybersecurity solutions provider for any computing platform. We identify gaps and solutions to help organizations minimize risk, maintain compliance, and increase efficiency. Fishtech is the flagship entity of Fishtech Group, which includes the Security-as-a-Service division CYDERES, and the wholly owned security analytics firm Haystax Technology of McLean, VA. Our venture partners are Perch Security of Tampa, FL, and Foresite of Overland Park, KS.
About Haystax Technology
Haystax Technology is a leading security analytics platform provider. Its platform delivers advanced security analytics and risk-management solutions that enable rapid understanding and response to virtually any type of cyber or physical threat. Based on a patented model-driven approach that applies multiple artificial intelligence techniques, it reasons like a team of expert analysts to detect complex threats and prioritize risks in real time at scale. Top federal government agencies and large commercial enterprises, as well as state and local public-safety organizations rely on Haystax for more effective protection of their critical systems, facilities and people. For more information about Haystax Technology, visit www.haystax.com or follow us on Twitter @haystaxtech.