The new capital will support SpyCloud’s plans to innovate its identity threat protection platform and grow its go-to-market teams across the globe, the Texas-based cyber analytics company said Wednesday.
Venture capital firm Silverton Partners participated in the financing activity.
Austin, Texas-based SpyCloud designed its platform to help organizations manage session cookie and credential theft incidents. In January, the company rolled out Compass for security professionals to identify devices, applications and users affected by a malware attack.
“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, co-founder and CEO of SpyCloud.
He added the company aims to help security teams update their cyber defenses and avoid attacks.