SOCRadar secures $252M to beef up cybersecurity efforts

TLDR:

• SOCRadar concludes Series B funding round with $25.2 million investment
• Investment led by PeakSpan Capital to expand cybersecurity solutions

SOCRadar, a provider of enterprise-grade threat intelligence and brand protection, has wrapped up its Series B funding round, securing $25.2 million in investment. The funding, led by PeakSpan Capital and with participation from Oxx, reflects investor confidence in SOCRadar’s innovative cybersecurity solutions. The surge in digital transformation due to the pandemic, along with increased cloud migrations and remote work, has heightened the importance of external cybersecurity. External threats are identified as the main cause of cyber incidents, with ransomware, Business Email Compromise (BEC), and phishing being top threats. SOCRadar’s mission is to offer proactive defense against cyber threats, such as ransomware, phishing, and BEC. The company’s go-to-market strategy prioritizes product-led growth and sales, resulting in over 25,000 freemium customers, 600+ active paid customers, and 350+ channel partners globally. SOCRadar’s flagship product, the Extended Threat Intelligence (XTI) platform, includes various external cybersecurity solutions like Cyber Threat Intelligence, Brand Protection, and Dark Web Monitoring. The funding will primarily support SOCRadar’s expansion in the US and EU markets, enhance AI capabilities, and drive research and development initiatives for improved threat detection and response.