This funding round, led by PeakSpan Capital, will accelerate investment in key areas including global sales infrastructure, product innovation, and AI-enabled workflows.
newark delaware, May 22, 2024 /PRNewswire/ — SOC radara leading provider of enterprise-grade end-to-end threat intelligence and brand protection, today announced the successful completion of its Series B funding round. $25.2 million. This round was led by Peakspan CapitalParticipation: oxThis reflects investors' confidence in SOCRadar's innovative approach to cybersecurity.
Since the onset of the pandemic, external cybersecurity has rapidly grown in importance, accelerated by unparalleled levels of digital transformation, cloud migration, and increased levels of remote work. According to his DBIR 2023 report from Verizon, 83% of respondents cited external threats as the top cause of cyber threats, with ransomware, business email compromise (BEC), and phishing leading the way. I am. As supporting evidence, the FBI's 2023 Internet Crime Report shows that phishing is the largest cause of complaint volume and BEC is his second-highest in complaint losses. More worryingly, at current growth rates, the economic damage caused by cyber-attacks is about $ 10.5 trillion per year by 2025 – 300% increase from 2015.
SOCRadar is dedicated to providing pre-emptive protection against cyber threats such as ransomware, phishing, BEC and all external attacks, and most importantly, detecting and stopping attacks before they occur. .
Huzeyfe Onal, CEO of SOCRadar, said: “Our primary mission is to provide businesses of all sizes with proactive protection against external cyber threats.” This investment continues our expansion in key geographies and expands our AI It will help you further enhance your functionality.
SOCRadar's innovative go-to-market strategy focuses on product-led growth and sales, and is successful in reaching and attracting customers around the world. The company reaches over 25,000 freemium customers from over 150 countries around the world and boasts over 600 active paying customers with partners across over 350 channels. This global implementation proves the effectiveness of his SOCRadar's solutions in addressing common problems and external cybersecurity needs faced by all businesses around the world.
SOCRadar's flagship Extended Threat Intelligence (XTI) cloud-based SaaS platform provides an end-to-end suite of external cybersecurity solutions, including cyber threat intelligence, external attack surface management, brand protection, dark web monitoring, and supply chain. Offers. Threat Intelligence. SOCRadar's cost-effective, natively integrated, and easy-to-use platform enables organizations to proactively defend against all major external compromise vectors.
The funds raised in the Series B round will primarily be used to drive the company's expansion in the US market, strengthen the company's strong presence in the region by investing in the EU market, and into managed service providers (MSPs) and managed security. used for continued penetration. Service providers (MSSPs) market and invest in research and development. Specifically, SOCRadar continues to leverage artificial intelligence (AI) in all aspects of its platform to enhance threat detection, response, and automated remediation capabilities.
“We are excited to partner with Huzeyfe, Ahmet and the entire SOCRadar team in our quest to democratize external threat intelligence for enterprises and midmarket companies around the world.” Said Sanket MerchantPartner at PeakSpan Capital. “With outstanding product innovation and leadership, and a truly differentiated, compelling, and fast value proposition, the team is at the forefront of what is arguably one of the most strategic challenges in cybersecurity today. We see an incredible opportunity for SOCRadar to emerge and scale as a leading global provider of external cybersecurity for strategic (and underserved) market segments. We couldn't be more honored than to be a partner in navigating the next stage of Up's journey. ”
richard antonco-founder and general partner ox,continue, “We are pleased to partner with US-based investors.” Peak Span and early investors 212 We partner with SOCRadar. As an international investor in Europe, we look forward to providing the best possible support to his SOCRadar as it accelerates its global go-to-market strategy. We are committed to supporting SOCRadar's expansion. Europe”
With this latest round of funding, SOCRadar is poised to further strengthen its position as a trusted partner for organizations looking to defend against external cyber threats and protect their digital assets.
About SOCRadar
SOCRadar is a pioneering cyber security company committed to providing advanced threat intelligence solutions that enable organizations to proactively defend against cyber threats. SOCRadar's flagship Extended Threat Intelligence (XTI) platform provides a comprehensive suite of customized products. These are cyber threat intelligence, external attack surface management, brand protection, dark web monitoring, and supply chain threat intelligence. SOCRadar leverages the power of artificial intelligence and machine learning to enhance threat detection capabilities and rapidly deliver proactive, actionable intelligence. This allows businesses to stay one step ahead of cyber risks. SOCRadar has a large global footprint. SOCRadar's mission is to strengthen organizations' defenses, reduce external risks, and foster more secure digital ecosystems around the world.
About Peakspan Capital
Peakspan Capital is new york city And San Mateo. Partnering with over 40 high-growth software businesses and with over $1.5 billion in assets under management, PeakSpan's mission is to be the choice for teams of growth-stage entrepreneurs building great software for business buyers of all sizes. Our goal is to be a partner that can help you. PeakSpan combines deep expertise within a select number of themes with a proprietary technology platform to provide visibility into company and market performance, helping disruptive entrepreneurs drive resilient, risk-adjusted value creation. We will support you to do so.
Learn more about PeakSpan Capital and its portfolio below. www.peakspancapital.com.
About OX
Oxx partners with the most promising B2B software companies at the scale-up stage. As a specialist SaaS investor, Oxx's strategy is built around the concept of “Go-To-Market Fit” – how to build a repeatable and sustainable growth engine that accelerates and drives the growth of SaaS companies. We are developing a structure for thinking about this.
Ox was founded by richard anton and michael johnson Founded in 2017, head office is London and stockholm. For more information, please visit: oxx.vc
For more information, please contact us below.
Black Widduran
Email: [email protected]
Source: SOCRadar
