Australian open-source intelligence (OSINT) company Fivecast this week announced that it has raised $20 million (AU$30 million) in Series A funding, which brings the total raised by the company to $23 million.
The investment round was led by Ten Eleven Ventures, with participation from Main Sequence, the Commonwealth Scientific and Industrial Research Organization’s (CSIRO) innovation fund, and the South Australian Venture Capital Fund.
Founded in 2017, the Australian company leverages artificial intelligence and machine learning to provide OSINT solutions, targeted data collection, and risk analytics to defense, law enforcement, and private organizations.
Fivecast collects data from the surface, deep, and dark web to deliver actionable insights and help organizations secure their environments.
The new funding will help Fivecast build its product portfolio and expand to new regions, including the US, the UK, Asia Pacific, and Europe. The company will also continue to expand its employee base, including development, sales, and marketing teams.
“This Series A funding ensures we can continue building advanced capabilities to support our customers’ targeted objectives, and add headcount to service markets across the globe – particularly in Australia, the US and the UK,” Fivecast CEO and co-founder Brenton Cooper said.
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