Grotech Ventures Leads Funding of Most Comprehensive Threat Intelligence Platform on the Market
Cyber Squared Inc., the leading provider of security services and the ThreatConnect® Threat Intelligence Platform (TIP), today announced a $4M Series A financing round led by Grotech Ventures and other strategic partners. The investment will allow the company to accelerate its product development and expand sales and marketing globally.
The company (founded as Cyber Squared Inc.) will immediately begin operations as ThreatConnect, Inc. The Cyber Squared brand will still be used for the consulting services operations. The company was founded in 2011 by a group of cybersecurity analysts with the mission of creating a platform that would make their jobs easier. Currently over 550 global companies, including more than 40 of the Fortune 100, use the ThreatConnect platform. The technology was officially launched at Black Hat 2013, and the company has seen 450 percent revenue growth in 2014. ThreatConnect anticipates more than doubling its revenues in 2015.
“We’re excited to partner with Grotech Ventures for this next stage of growth. It’s time security professionals have the power to effectively leverage all sources of threat intelligence in order to protect their enterprises,” said ThreatConnect CEO and co-founder Adam Vincent. “As adversaries become increasingly complex, a Threat Intelligence Platform is becoming mandatory and ThreatConnect is the leader in helping organizations better understand the threat and automate defenses across all of their existing security investments.”
“Grotech invests in companies with strong founding teams and significant opportunities for success in large, high-growth markets,” said Grotech Ventures’ General Partner Steve Fredrick. “We believe that ThreatConnect is at a pivotal point in its growth trajectory, and are excited about the momentum the company has experienced so far. We’re thrilled that with this additional capital, ThreatConnect will continue to realize its vision and move even faster.” Fredrick will join ThreatConnect’s Board of Directors.
The company has been self-funded until now, with a focus on lean start-up methodologies to increase customer adoption and validate the founders’ innovative vision of developing a single platform for cyber threat analysis. The company received the Northern Virginia Technology Council’s “Hottest Bootstrap” award in June 2014.
About ThreatConnect, Inc.
ThreatConnect, Inc. is the leading provider of advanced threat intelligence products and services including ThreatConnect®, the most comprehensive Threat Intelligence Platform (TIP) on the market. ThreatConnect delivers a single platform in the cloud and on-premises to effectively aggregate, analyze, and act to counter sophisticated cyber-attacks. Leveraging advanced analytics capabilities ThreatConnect offers a superior understanding of relevant cyber threats to business operations. To register for a free ThreatConnect account, or to learn more about our products and services, visit: www.threatconnect.com.
About Grotech Ventures
Founded in 1984, Grotech Ventures is a leading early investor in high-potential technology companies. Grotech seeks innovative, early-stage investments across the IT landscape and continues to invest and add value throughout the life cycle of each portfolio company. The firm has a strong combination of financial backing, industry relationships, and deep domain and operational expertise to accelerate growth. With more than $1 billion in committed capital, Grotech supports early-stage companies through investments starting at $500,000. For more information, visit: www.grotech.com.