Last updated on March 17th, 2020 at 01:31 pm
Madison-based Gillware Digital Forensics rebranded to Tetra Defense and also raised $3 million in a funding round, the company announced today.
Tetra Defense is an incident response, cyber risk management and digital forensics firm that helps clients restore and recover from ransomware attacks, business email compromise and wire transfer fraud.
The company’s services include in-depth forensics investigations of intellectual property theft and the assessment and development of corporate information security programs. The $3 million raised will help the company expand its team, sales and marketing efforts, as well as enhance product and service development.
“Businesses of all sizes are increasingly finding themselves at war with cyber criminals around the globe,” said Scott Holewinski, chief executive officer. “This investment gives us the resources we need to build new and innovative tools and services to help our clients respond and defend against future cyber threats.”
Gillware Digital Forensics was a division of Gillware Data Recovery, which still operates in an office at Madison Technical College.
As a part of the rebrand, Tetra Defense moved to a new 6,400-square-foot office at 740 Regent Street in Madison. The company has approximately 14 employees at its Madison office, 5 that work remotely and another 3 who work at an office in the Chase Tower at 111 E. Wisconsin Ave. in downtown Milwaukee.
Tetra Defense plans to expand its Milwaukee and Madison offices with the goal of having up to 60 employees by the end of 2020, a Tetra Defense spokesperson told BizTimes.
Mendota Venture Capital LLC led the $3 million series A funding round, which included two investors, according to a U.S. Securities and Exchange Commission filing. The investment is the first funding round by Tetra Defense since launching in 2016.
Nick Jackson, principal at Mendota Venture and Mike Victorson, president and chief executive officer of M3 Insurance, will join the Tetra Defense Board of Directors.