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Identity-Focused Intelligence Firm 4iQ Raises $30 Million

Identity-focused intelligence company 4iQ on Tuesday announced that it has raised $30 million in a Series C funding round led by ForgePoint Capital and Benhamou Global Ventures.

The latest funding round, which brings the total investment secured by the firm to roughly $63 million, also saw participation from C5 Capital, Adara Ventures and TheVentureCity.

4iQ told SecurityWeek that it will use the money to scale go-to-market activities and look at opportunities to build out its portfolio, either organically, through added investments, or inorganically, through partnerships and/or acquisitions.

The company also announced on Tuesday that Kailash Ambwani has been appointed chief executive officer.

“This funding will allow us to accelerate our go-to-market activities as well as invest in additional capabilities to help our customers better address the rising tide of digital risks to their businesses and employees,” Ambwani told SecurityWeek.

Ambwani previously served as CEO of data cataloging solutions provider Waterline Data, and president and CEO of Actiance, a provider of security, compliance, eDiscovery and archiving solutions. He replaces Alberto Yepez, who until now has acted as interim CEO.

4iQ provides intelligence designed to help organizations measure, monitor and manage digital risk.

Its IDHunt product aids fraud and cybercrime investigations and enables investigators to identify bad actors. Its IDTheft product sends real-time alerts when credentials or personal information surface on the web. IDLake, which powers both IDTheft and IDHunt, is a collection of more than 25 billion identity records with over 100 billion attributes.

The company says its customers include financial and healthcare organizations, government agencies, cryptocurrency exchanges, security and fraud solutions providers, cyber insurers, and identity protection providers.

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.