IID, also known as “Internet Identity”, announced on Tuesday that it has raised $8 million in Series A funding from Bessemer Venture Partners (BVP).
The Tacoma, Washington-based company, which has roots as a phishing site take down service for clients such as banks and other well-known brands, has been around for some time, and is just now taking its first institutional investment.
“Unlike most startups that secure a first round of funding without any profit (or in some cases revenue), IID has been profitable for most of its existence since being founded in 1996,” a company spokesperson told SecurityWeek.
The company, which currently has 65 employees, said it would use the investment to fuel growing demand for its cyber intelligence collaboration platform, ActiveTrust.
ActiveTrust, which the company began rolling out in early 2013, enables enterprises and government agencies to share cyber incident data in real time.
According to the company, the ActiveTrust platform automatically aggregates, validates and exchanges actionable threat data across thousands of contributing sources, enabling organizations to power their existing security infrastructure with more robust intelligence feeds.
“Despite all of the recent advancements in online security, it is mind-boggling that threat intelligence sharing is stuck in the ‘90s—conducted primarily by email, and limited to peer and industry groups,” said IID Co-founder, President and CTO Rod Rasmussen, who also is also a SecurityWeek columnist. “With our threat sharing platform, we are automating at scale what IID has been doing for years—collecting, analyzing and feeding data into enterprises’ wide array of security tools—and providing a social network for enterprises to collaborate against the latest threats.”
“Heeding the President’s call on the private and public sectors to share cyber threat intelligence, BVP set out to find and fund the best team and technology to enable safe, real-time collaboration,” explained VeriSign founder and partner at Bessemer Venture Partners David Cowan.
More information on ActiveTrust can be found here.
