Cybersecurity startup Tracebit on Tuesday announced raising $20 million in a Series A funding round that brings the total raised by the company to $25 million.
The investment round was led by FirstMark, with additional support from Accel, MMC Ventures, Tapestry VC, and CCL.
Founded in 2023, London, UK-based Tracebit has built cloud-native threat deception technology that uses tailored canaries to detect threats everywhere on a system.
The canaries, which are described as fake honeypots, are deployed across the entire environment to attract threats and help organizations prevent cyberattacks and respond to incidents faster, employing an ‘assume breach’ approach.
These decoy assets bait attackers into revealing their location, enabling responders to identify compromised accounts and prevent lateral movement.
According to Tracebit, its cloud-native technology has been built for the modern tech stack to identify and prevent evolving threats. Its canaries can be deployed by identity providers, on workstations, in AWS, Azure, Kubernetes, and CI/CD pipelines.
The startup’s portfolio was recently expanded with Perimeter Canaries, new decoys meant to be deployed at the edge of SaaS and cloud for faster detection of AI-powered and agentic attacks.
Tracebit also launched Deceptive Artefacts and GCP Support and plans to use the new funding to support the rollout of all its new products.
It will also invest in expanding across the US, in customer support, and in growing its go-to-market and engineering teams.
“Tracebit is building the cloud-native deception and detection layer for the AI era, giving security teams the highest signal proof of compromise. We believe ‘assume breach’ will become the default posture for modern enterprises, and Tracebit is leading that shift,” said FirstMark partner David Waltcher.
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