SOCRadar (see Pulse 2.0 profile), a provider of enterprise-grade and end-to-end threat intelligence and brand protection, announced the successful completion of its Series B funding round at $25.2 million. This funding round was led by PeakSpan Capital and Oxx also participated.
External cybersecurity has rapidly grown since the pandemic, fueled by high demand for digital transformation, cloud migrations, and increased remote work.
SOCRadar is focused on delivering preemptive defense against cyber threats like ransomware, phishing, BEC, and all externally sourced attacks, and, most importantly, on detecting and preventing attacks before they happen.
SOCRadar’s go-to-market strategy focuses on product-led growth and sales, successfully reaching and engaging customers globally. And the company has reached 25,000+ freemium customers from 150+ countries worldwide and boasts 600+ active paid customers alongside 350+ channel partners. This adoption is a testament to the shared problem faced by all companies worldwide and the effectiveness of SOCRadar’s solution in addressing external cybersecurity needs.
SOCRadar’s flagship product – which is an Extended Threat Intelligence (XTI) cloud-based SaaS platform – offers an end-to-end suite of external cybersecurity solutions, including Cyber Threat Intelligence, External Attack Surface Management, Brand Protection, Dark Web Monitoring, and Supply Chain Threat Intelligence. And SOCRadar’s platform is cost-effective, natively unified, and easy to use, empowering organizations to proactively defend against all primary external breach vectors.
The funding raised for the Series B round will be used to drive the company’s expansion in the US market, invest in the EU market for strengthening the company’s strong presence in the region, continue to penetrate the Managed Service Provider (MSP) and Managed Security Services Provider (MSSP) markets, and invest in research and development. And SOCRadar will continue to utilize artificial intelligence (AI) across all aspects of its platform to enhance threat detection, response, and automated remediation capabilities.
With this latest funding round, SOCRadar is prepared to strengthen its position further as a trusted partner for organizations seeking to defend against external cyber threats and safeguard their digital assets.
KEY QUOTES:
“Our main mission is to provide proactive protection against external cyber threats for companies of all sizes. This investment will help us continue to expand in key geographies and further bolster our AI capabilities across our platform.”
– Huzeyfe Onal, CEO of SOCRadar
“We are excited to partner with Huzeyfe, Ahmet, and the entire SOCRadar team in their pursuit of democratizing external threat intelligence for enterprises and mid-market organizations globally. The team is attacking arguably one of the most strategic challenges in cybersecurity today, which is only growing in criticality, with exceptional product innovation/leadership and a compelling, high-velocity value proposition that is truly differentiated. We see an incredible opportunity for SOCRadar to emerge as the leading global provider of external cybersecurity for a strategic (and underserved) market segment and couldn’t be more privileged to be their partner navigating this next stage of their scale-up journey.”
– Sanket Merchant, Partner at PeakSpan Capital
“We’re delighted to join forces with US-based investor PeakSpan and early investor 212 as we partner with SOCRadar. As an international European investor, we look forward to providing SOCRadar with the best support possible as they accelerate their global go-to-market strategy. We are committed to supporting SOCRadar’s expansion in Europe.”
– Richard Anton, Co-Founder and General Partner at Oxx
