St. LOUIS (January 22, 2015) – Bandura, Inc, maker of the U.S. Defense-tested PoliWall cyber security technology, is establishing its headquarters in St. Louis at the Cambridge Innovation Center (CIC-St. Louis) within the Cortex Innovation Community. Bandura will now be growing revenue and scaling operations in St. Louis as it expands its presence in domestic and global markets, including India and South Korea.
PoliWall identifies and consolidates threat information from both inside and outside networks, and signals immediate action to respond to the threat and stop data loss in near-real time. PoliWall’s patent and patent-pending REACT threat intelligence consolidation server uses high-speed machine-to-machine interface to send its automated response. Thanks to this automation, PoliWall customers have reported a 60 percent reduction in security management time.
“We were considering office space in Silicon Valley and New York, but ultimately decided that St. Louis’ central geographic location is perfect for our market expansion plans,” said Suzanne Magee, CEO at Bandura. “Calling the Cortex Innovation Community home means we are within arm’s reach of major research universities as well as worldclass business and engineering talent all packaged together in newly renovated space.”
Bandura will be among other large innovation efforts setting up shop in CIC-St. Louis, which is located in the @4240 building in the Cortex district. Purina, Boeing and a division of Washington University already call this building home.
“Bandura is a great addition to the CIC-St. Louis community, as its team is already very active in our programming efforts,” said Dougan Sherwood, managing director of CIC-St. Louis. “Bandura is an important contributor to our entrepreneurial ecosystem and we’re thrilled to officially welcome them.”
Bandura’s move to St. Louis was possible through the support from the Missouri Technology Corporation (MTC). Bandura has been approved for financing through the Missouri IDEA funds to match investment in Bandura’s scale-up initiative. One of the criteria for receipt of the MTC IDEA program funds is location in Missouri.
“Entrepreneurship is vital to growing Missouri’s economy,” said Mike Downing, director of the Missouri Department of Economic Development. “These are the folks who are changing and sculpting our world as well as creating jobs in our communities. Investments like this will assist in attracting talent and ideas to the state as well as add to the abundant resources and supportive infrastructure that fosters growth in the entrepreneurial community.”
For information on the Missouri IDEA Funds or other MTC funding programs, visit missouritechnology.com.
Founded in the Cyber Maryland program in Baltimore, Bandura has been established to commercialize security technology developed in part with the U.S. Department of Defense and Bandura parent company, TechGuard Security, LLC.
The PoliWall, an award winning IP blocking appliance, with patent and patent-pending HIPPIE® filters and DCEL™ engine technologies, and REACT threat consolidation software with automated threat response; used to stop malicious IP traffic and prevent data leakage at the network edge. The PoliWall blocks inbound and outbound traffic by country and by IP reputation at line speed. For more info or a free trial, please visit us at www.bandurasystems.com and follow us on Twitter @poliwall.
About the Missouri Technology Corporation- The Missouri Technology Corporation is a public-private partnership created by the Missouri General Assembly to promote entrepreneurship and foster the growth of new and emerging high-tech companies. MTC focuses on 21st Century bioscience industries that build on Missouri’s rich history in agriculture. It is governed by a 15-member board of directors appointed by Missouri’s Governor, Speaker of the House, and President Pro Tem of the Senate. The President of the University of Missouri System and the Director of the Department of Economic Development are ex officiomembers of the board.