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Success Stories

Verodin

Security Effectiveness

McLean, VA

Market Opportunity

Ten Eleven knew CISOs were concerned about their inability to validate that their security tools were actually working as they should. Ten Eleven met with the Verodin team at the RSA cybersecurity conference in 2018 and discovered the Verodin solution validated a company’s security stack, including processes and deployed tools. For the first time ever, CISOs could manage their security stack as other executives managed their lines of business.

Ten Eleven pursued the deal and was pleased to be selected as an investor by the company.

Managing Team

The Verodin leadership team brought together decades of experience in cybersecurity.

Ten Eleven Impact

Ten Eleven co-led the Series B round with Bessemer Venture Partners and brought in other high-quality co-investors. Mark Hatfield joined the board.

Key Milestones

2018

$21M

SERIES B

May, 2019

$300M

Outcome

Verodin was acquired by FireEye in May of 2019. The acquisition enabled organizations on the FireEye platform to better identify and respond to threats by proactively identifying inefficiencies and vulnerabilities in security effectiveness.

– Kevin Mandia,CEO, FireEye

“Security effort does not equal security effectiveness. That is why security-conscious customers red-team their networks – they need the unvarnished truth of how effective their security programs are. Verodin…provides a systematic, quantifiable, and continuous approach to security program validation… Finally, organizations will have a reliable and consistent way to quantify cyber risk in a manner understandable to frontline technicians and in the boardroom.”

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