Cybersecurity startup RackTop Systems recently raised $15 million in Series A funding to accelerate the growth of its CyberConverged Data Storage and Security Platform. The funding round was led by Razor’s Edge Ventures and Grotech Ventures along with the participation from Maryland Venture Fund, Blu Venture Investors, and Gula Tech Adventures. RackTop stated the new investment helps to further develop its sales channel and product development expansion.
RackTop Systems help federal and commercial organizations solve their cybersecurity and compliance challenges with its secure and high-performance Network-Attached Storage (NAS) platform. The company claims that its flagship product, BrickStor, is an all-in-one data storage and management platform that protects sensitive data from cyber-attacks while meeting internal and regulatory compliance requirements.
Based in Fulton, RackTop was founded in 2010 by security veterans of the U.S. intelligence community. The company claims that its technology has been deployed at numerous organizations in a variety of industries worldwide, including public sector, media and entertainment, financial services, health care, higher education, and life sciences.
“It is costly and complex for enterprises to meet the rising challenges of both storing and managing large data volumes, while at the same time addressing expanding compliance requirements and attempting to protect data from persistent cyber threats,” said Eric Bednash, co-founder and CEO of RackTop Systems. “Our product fuses data storage with cybersecurity to create a unique platform that solves these challenges inherently without added complexity or cost beyond that of legacy storage products alone.”
“The RackTop team has a unique perspective and clear vision on how the Security and Data Storage markets are growing and evolving, and their CyberConverged platform addresses major data, security, and compliance challenges within the modern enterprise,” said Jack Kerrigan, co-founder and managing director of Razor’s Edge Ventures. “We invest in great management teams with differentiated products that solve large, difficult problems across both national security and the commercial enterprise markets. We are extremely excited to invest in RackTop to accelerate their growth and continued product development.”
