Spec – a leading cybersecurity firm specializing in advanced fraud detection and defense – recently announced the closing of its $15 million Series A funding round, marking a significant milestone in the company’s journey. This funding round was led by SignalFire, with participation from Legion Capital and Rally Ventures.
From its start as a “hello world” prototype during the early days of the pandemic, Spec’s platform has advanced to protect enterprises processing billions in online transactions invisibly. And now Spec’s platform scans the entire customer journey, enabling for the identification of all threats and attacks, and then deploys active countermeasures, especially against the AI-powered attack tools that threaten to disrupt online businesses.
This funding round will empower Spec’s continued growth and innovation. And with this new funding round, the company is ready to:
— Advance the Spec platform to deliver increased visibility and control over attack detection and exploit remediation
— Expand its threat labs, the R&D powerhouse that deconstructs the tools and tactics used by modern attackers and develop countermeasures that neutralize their impact
— Co-develop specialized products with partners that resolves the fraud problems that customers cannot fix with single point solutions
KEY QUOTES:
“I’m excited about our continued partnership with SignalFire, who led this funding round. The firm’s deep expertise in cybersecurity and AI at enterprise scale is a perfect match for our mission. We’re equally grateful for the continued support from Legion Capital and Rally Ventures, whose insights and experience are invaluable.”
“I’m proud of what this team has accomplished. I’m also grateful for the support of the enterprise customers that helped us grow our platform into what it is today, bolstered by the incredible support and guidance of our board and investors. We’re excited to forge ahead on our mission to protect customer journeys against a landscape of evolving threats.”
— Spec co-founder and CEO Nate Kharrl
