Digital Risk Protection Company Digital Shadows Raises $10 Million

By Amit Chowdhry ● July 10, 2019
  • Digital Shadows — a digital risk protection company — announced it raised $10 million in a strategic round of funding led by the venture arms of National Australia Bank

Digital risk protection company Digital Shadows has announced it raised $10 million in a strategic funding round. This round of funding was led by the ventures arm of new investor and current customer National Australia Bank (NAB). And existing investors including Octopus Ventures have made further contributions to boost their shareholding in the company.

With focused investment in global expansion and product development, Digital Shadows is planning to exponentially scale the delivery of its SearchLight service from hundreds to thousands of customers. And Digital Shadows will also provide 24×7 global coverage of security threats for the first time via an expanded Asia Pacific team.

“Demand for digital risk protection continues to flourish with significant growth in the Asia Pacific market. It’s clear that an investment from a regional specialist in NAB Ventures is exactly what is needed to drive further growth in this massive market and to expand the delivery of our SearchLight service to customers around the world. We’re very pleased that our existing investors feel the same and have joined us on this next stage of our journey,” said Digital Shadows CEO and co-founder Alastair Paterson.

And Digital Shadows is also strengthening its board with the additions of NAB Ventures managing director Melissa Widner and NAB Chief Enterprise Security Officer David Fairman — who will join the Board as observers.

“We’re looking forward to working with Digital Shadows. It’s clear that our economy is becoming ever-more digitized, with information safety and security becoming paramount in the minds of consumers. As the platform and capabilities expand, we hope this relationship will help provide us with opportunities for future innovation,” added Widner.

Digital Shadows is able to minimize digital risk by identifying unwanted exposure and protecting against external threats. And organizations can suffer regulatory fines, loss of intellectual property, and reputational damage when digital risk is left unmanaged. Fortunately, Digital Shadows SearchLight helps you minimize risks by detecting data loss, securing your online brand, and reducing your attack surface.

“As an existing customer of Digital Shadows, we have seen the value its service provides by delivering early foresight into a range of cybersecurity threats. Digital risk protection is an emerging security category and we have already seen the benefits of adding their capabilities to our security portfolio,” explained Fairman.