Dietz backs PolySwarm’s mission to disrupt the $8.5 billion cyber threat intelligence industry
SAN JUAN, PUERTO RICO — March 1, 2018 — Decentralized IT security marketplace PolySwarm today announced a $500,000 investment from Swarm Syndicates, led by Joel Dietz. He personally invested in PolySwarm’s ongoing Nectar (NCT) token sale. PolySwarm has raised $22 million to date, with additional backers including Science Blockchain and BlockTower Capital.
“PolySwarm has all of the hallmarks of a good investment, including a strong market opportunity and an industry-leading team,” said Joel Dietz, co-founder of Swarm Fund. “We look forward to following PolySwarm as they decentralize cybersecurity.”
Today’s antivirus and IT security market are dominated by single vendor offerings that often miss emerging threats. PolySwarm incentivizes a global community of information security experts to disrupt the $8.5 billion cyber threat intelligence industry, providing enterprises and consumers with unprecedented speed and accuracy in threat detection. By introducing a platform encouraging innovation and competition, the market will reward experts who are best able to protect users.
The PolySwarm market runs on Nectar, an ERC20-compatible utility token that makes it easy to submit and classify potential threats on the PolySwarm market. Nectar replaces traditional, outdated antivirus and threat-scanning subscription payments.
PolySwarm’s founders built the company out of Narf Industries, LLC, an information security firm that recently completed a blockchain-based identity management project for the Department of Homeland Security, as well as cutting-edge information security projects for DARPA. PolySwarm’s advisory board includes former McAfee CIO Mark Tonnesen, alongside renowned information security experts Dan Guido, Chris Eagle, Dr. Sergey Bratus, and Carl Hoffman.
PolySwarm is the first decentralized marketplace allowing security experts to build anti-malware engines that compete to protect consumers. PolySwarm incentivizes a global community of information security experts to disrupt the $8.5 billion cyber threat intelligence industry, providing enterprises and consumers with unprecedented speed and accuracy in threat detection. The PolySwarm market runs on Nectar (NCT), an ERC20-compatible utility token. For more information, please visit https://polyswarm.io.
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