Cyber security firm Digital Shadows secures $14m
Cyber intelligence start-up that helps organisations identify threats will use funding to meet growing demand
Digital Shadows, a cyber security start-up, has raised a $14m Series B funding round led by Trinity Ventures, Storm Ventures, TenEleven Ventures, Passion Capital and Paladin Capital Group.
Founded in 2011 by Alistair Paterson and James Chappell, Startups 100-featured Digital Shadows provides cyber-intelligence software that helps organisations formulate a view of their digital footprint, and identify attackers and potential threats.
The company claims that its SearchLight product is capable of monitoring more than 100 million data sources in 27 different languages across the dark web.
Following an $8m Series A in February 2015, this latest funding will be used to capitalise on the demand for Digital Shadows’ cyber security solution.
Fred Wang, Trinity Ventures’ general partner – who has joined the Digital Shadow – said: “Given Trinity’s long and successful history investing in the cyber security market, we understand how cyber situational awareness has become critical for enterprises.
“Digital Shadows’ remarkable growth and the rapid adoption of its SearchLight offering by large enterprises has impressed us, as did its strong management team.”
Eileen Burbidge, partner at Passion Capital and investor director for Digital Shadows, commented: “We first invested in Digital Shadows at its seed stage because of its unique approach to the market, providing truly relevant threat intelligence as part of a much broader offering that reduces the risk and burden of its customers.
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“Its rapid expansion into the U.S. market, and client growth across broader Europe, has given us more than enough confidence and we are thrilled to further invest in the business.”