Threat intelligence platform provider ThreatQuotient has secured $12 million in Series B funding Led by investment firm New Enterprise Associates (NEA).
Founded in 2013 by Wayne Chiang and Ryan Trost, who previously worked at a Security Operations Center of defense contractor General Dynamics, ThreatQuotient offers a threat intelligence platform that manages and correlates external sources with all internal analytics solutions for contextual, operationalized intelligence.
According to the Reston, Virginia-based company, the funding will be used to support product development and to accelerate global expansion in sales, channels and partnerships.
The company’s ThreatQ platform allows security analysts to leverage a threat library, an adaptive workbench and an open API exchange to provide threat intelligence that is more timely, accurate and relevant to their business.
The platform eliminates the need for a security analyst to go through an entire pool of data to identify a threat by automating the process and suggesting sources of data that are more relevant to a given company.
In addition to helping security teams streamline the lifecycle of threat analysis and mitigation, ThreatQ can be used for the mapping of adversary names across multiple sources, enabling organizations to build internal adversary timelines and to provide their employees with situational awareness details, the company said.
Existing investors Blu Venture Investors and the Center for Innovative Technology (CIT) also participated in the round. As part of the funding, NEA Managing General Partner, Peter Barris, has been appointed to the ThreatQuotient Board of Directors, joining current board member and NEA General Partner, Harry Weller.
The company said it has also arranged a $3 million growth capital facility from Silicon Valley Bank.