Bolster, Inc., the automated digital risk protection company, has secured $15 million in a funding round aimed at helping global organizations swiftly detect and resolve digital threats. The funding round, which was led by Cervin and saw participation from Liberty Global Ventures, Cheyenne Ventures, as well as previous investors Thomvest Ventures and Crosslink Capital, will support Bolster’s ongoing expansion efforts. These efforts are focused on aiding organizations worldwide in identifying and mitigating threats across web platforms, social media, and app stores more efficiently and at a significantly reduced operational cost compared to alternative solutions. In addition to the funding, Bolster has welcomed two new board members: Shirish Sathaye, General Partner at Cervin, and Manoj Apte, a seasoned professional in the security industry and former Chief Strategy Officer at Zscaler.
Shirish Sathaye, General Partner at Cervin, emphasized Bolster’s groundbreaking impact on this expansive market, praising their top-tier automated detection and remediation technology. He expressed confidence in Bolster’s visionary leadership and execution capabilities, emphasizing their enthusiasm to join Bolster on its journey.
In 2022, Bolster has already achieved remarkable growth, with a 200 percent year-over-year increase in new customers and the addition of numerous forward-thinking organizations to its impressive customer base. Manoj Apte highlighted the growing significance of Digital Risk Protection as organizations increasingly conduct business in digital media and web 3.0. He pointed out the escalating threats from financially motivated attackers who impersonate established brands, necessitating the scaling of dedicated security teams in the Security Operations Center (SOC). Bolster’s AI-based detection and fully automated takedown service was commended for its ability to expedite remediation, reduce repetitive tasks, and enhance customer confidence in the face of these challenges.