Internet sensing company, Qadium has secured a $20 million Series A funding led by Scott Sandell, technology investor and managing partner of New Enterprise Associates (NEA) in association with Peter Thiel from the Founders Fund along with existing investors.
The San Francisco based corporation, indexes the devices of the connected gear for the corporate and government cyber security applications that lists scanning servers, routers, CCTV cameras, power plant control systems connecting to the public internet and reporting possible information breaches. Clients can avail these reports on the Expander software service after mapping one’s presence on the global internet. The platform can also link different pieces of connected hardware spread across the world and provide alerts on unauthorized IT deployments.
The funds, says the company will be used to strengthen its core business and enhance web-scale mass sensing along with Google Street View for devices on the internet.
It was co-founded in 2012 with an aim to secure the IP space from the threats of Shadow IT and firewall misconfigurations by Tim Junio, Matt Kraning and Shaun Maguire who were earlier associated with Department of Defense’s research arm (DARPA).
Tim Junio, CEO, Qadium, said:
“Our platform is relevant to every IT transaction. Every time a company would otherwise pay a team of consultants to come in with clipboards, or to have a security team dig through voluminous log files, Qadium can provide analytic software.”
Matt Kraning, CTO, Qadium believes that their approach is “treating the entire internet like a single dataset.” It operates by sending signals via the public internet space, interprets data that traces the active devices and building network graphs to understand relationships between those devices.
The business runs on a customer base of “include Fortune 500 companies in financial services, insurance, healthcare, defence industry, auditing and consulting, and retail” and has been in stealth mode for the last three years. According to Forbes, servers powered by Qadium are crunching numbers and are building a database for governments and private firms who can afford up to $1 million a year access to Qadium’s browser-based tool.
“Only an interdisciplinary group of top minds could have built an end-to-end system of this scope and complexity while delivering profound new insights to the world’s most demanding customers,” added Shaun Maguire, Chairman, Qadium.
Earlier, Qadium had raised $6 million in a seed round that closed in summer 2015. The round was led by Founders Fund (Peter Thiel) in participation with OATV (Mark Jacobsen), Susa Ventures (Seth Berman), and a group of angel investors.
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