Delaware early stage startup SOCRadar on Wednesday has secured $25 million in new venture capital financing and announced plans to expand market share in the threat intelligence and brand protection category.
The company said the Series B funding round was provided PeakSpan Capital and Oxx and brings the total raised to $30.2 million.
SOCRadar sells an end-to-end threat intelligence and brand protection platform delivering what the company calls “pre-emptive defense against cyber threats, such as ransomware [and] phishing.”
The company says it has more than 25,000 freemium customers from 150 countries worldwide with about 600 active paid customers.
SOCRadar’s main product is positioned as an Extended Threat Intelligence (XTI) cloud-based SaaS platform providing a suite of external cybersecurity solutions. The company said its software offers threat intelligence, external attack surface management, brand protection and dark web monitoring.
SOCRadar said the new capital will be used to drive the company’s expansion in the US market and Europe and to make inroads into the Managed Service Provider (MSP) and Managed Security Services Provider (MSSP) markets.
Like others in the threat intel space, SOCRadar plans to use artificial intelligence (AI) across all aspects of its platform to enhance threat detection, response, and automated remediation capabilities.
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