Reston, Virginia-based cybersecurity firm
, ThreatQuotient that specializes in building enterprise solutions to defend cyber threats has announced the raise of $12 million in Series B funding. The round of funds was led by New Enterprise Associates (NEA
) in cooperation with existing investors including Blu Venture Investors
and the Center for Innovative Technology (CIT
The fresh flow of capital, says the company, will be used to bolster product development and further its footprint on the global map. It also plans to boost sales, channels and strategic partnerships to scale ahead of an apparent increase in demand. In conjunction with the deal, Peter Barris, Managing General Partner, NEA will join Harry Weller, another NEA partner at the Board of Directors, ThreatQuotient. Barris said:
“The need for an intelligence-driven approach to cybersecurity is evident, and the success that ThreatQuotient has achieved makes it clear that our investment will further accelerate their growth.”
It is built on a Threat Intelligence Platform (TIP) that centrally manages and correlates external sources with internal security and analytics solutions for contextual intelligence in an unified platform, claims the company. It also provides the context, customization and collaboration required to accelerate the transformation of threat data into actionable threat intelligence, while giving analysts control over the process.
How does it work?
Its Indicators of compromise (IOC) or Indicators of Attack (IOA) management allows users to ingest data from internal sources, using tools like OpenDNS, VirusTotal, DomainTools, WHOIS and Threat Recon. And provides quick detection solutions to block attacks or minimize adversary dwell. It then, correlates IOCs and leverage a variety of third party tools to help provide additional insights. It also integrates with over 25 vendors including Radar and Splunk to ensure customers can keep their detection solutions up to date.
John Czupak, President and CEO, ThreatQuotient, stated:
“With a robust ecosystem of technology, channel and other go-to-market partners supporting our customers and a rapidly expanding pipeline, it is easy to see that ThreatQuotient has accomplished a lot in a short period of time. This increased investment is a testament to that success, and will allow us to stay at the forefront of innovative threat intelligence solutions.”
The company also disclosed that it has secured a $3 million growth capital facility from Silicon Valley Bank
at an arguably befitting time where organizations are on a lookout to secure themselves and their data by leveraging technologies from cybersecurity specialists. Earlier, phishing detection platform, PhishMe
had raised $42.5 million in Series C funding followed by $29 million in Series A funding by Encryption-as-a-Service (EaaS) provider Virtru