SpyCloud Closes $110 Million in Funding

by Kay Aloha Villamor in August 24th, 2023

SpyCloud, an Austin, Texas-based operationalizing identity analytics to automate the protection of digital identities, closed a $110 million growth round commitment of primary and secondary capital led by Riverwood Capital.

The growth round will drive further global expansion and accelerate authentication bypass prevention to protect digital identities as passkeys and passwordless authentication adoption grow.

SpyCloud provides businesses with automated prevention of the top attack vectors used by sophisticated criminals, preventing the most costly targeted attacks.

The company’s platform identifies and remediates stolen employee and consumer session cookies, credentials, and emerging forms of authentication data being actively used by criminals to target enterprises, their customers, and their supply chains.

Its latest solution, SpyCloud Compass, enables Post-Infection Remediation of malware exposures, including the compromised assets most likely to lead to ransomware attacks.

“For the last seven years, we have proven that reacting quickly to identity and authentication exposures is the crucial factor in stopping the cycle of cybercrime,” said Ted Ross, SpyCloud CEO and Co-Founder. “As authentication methods improve, businesses need to adjust their defenses to keep up with criminals’ new behavior. SpyCloud allows you to do just that, and we will continue to illuminate and resolve the most critical risks facing security teams today, stopping attacks they haven’t been able to see coming.”

Company: SpyCloud, Inc.

Raised: $100.0M

Round: Growth Round

Funding Month: August 2023                        

Lead Investors: Riverwood Capital

Additional Investors:

Company Website: https://spycloud.com/

Software Category: Cybersecurity Software

About the Company: SpyCloud transforms recaptured darknet data to protect businesses from identity-based cyberattacks. Its products deliver actionable insights that allow enterprises to proactively prevent ransomware and account takeovers, protect their business from consumer fraud losses, and investigate cybercrime incidents. Its unique data from breaches, malware-infected devices, and other underground sources also powers many popular dark web monitoring and identity theft protection offerings. SpyCloud customers include half of the ten largest global enterprises, mid-size companies, and government agencies, and its solutions protect over four billion accounts globally. 

Source: https://spycloud.com/newsroom/spycloud-raises-110-million-growth-round-led-by-riverwood-capital/

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