BlackCloak, a company that provides cyber protection services for corporate executives and high-profile individuals, on Thursday announced that it has raised $11 million in a Series A funding round.
The round was led by TDF Ventures, with participation from TechOperators and DataTribe. The investment will be used to improve the company’s technology offering, and to expand team and sales operations.
BlackCloak’s Concierge Cybersecurity & Privacy platform is designed to protect executives and high-profile individuals — as well as their families — from cybersecurity, financial, privacy and other reputational risks.
The solution includes mobile and desktop applications and a personal cybersecurity advisor. Users can obtain information on their risk level and they gain the ability to monitor the security of their personal, home and family devices. The company also provides an educational portal with security tips and industry news.
In the case of corporate executives, BlackCloak promises to protect them outside of the office, where they might benefit from the enterprise cybersecurity solutions deployed by their company. A study conducted by the firm last year showed that 40 percent of executives had already been compromised on their personal devices or home networks.
BlackCloak says its services are used by Fortune 500 companies, including in the finance, media and entertainment, retail, banking, healthcare, sports, political, and defense sectors.
“It is a known issue that our online activities and devices have been at risk for some time, but what is new is the idea that personal digital lives can have a direct impact on the company,” said Dr. Chris Pierson, CEO and founder of BlackCloak. “From unemployment fraud impacting entire executive teams to the exposure of corporate information through personal email, the risks and consequences are very real. BlackCloak is exclusively solving this issue.”
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