Threat Intelligence

2/28/2019
04:40 PM
Dark Reading
Dark Reading
Products and Releases
50%
50%

SpyCloud Raises $21M in Series B Funding, Will Focus on Account Takeover Prevention

M12, Microsoft's venture fund, and others back efforts to prevent account exposure and takeover.

AUSTIN, Texas, Feb. 27, 2019 /PRNewswire/ -- SpyCloud, the leader in account takeover (ATO) prevention, announced today it has secured $21 million in new capital led by M12, Microsoft's venture fund. The Series B round also includes new investor Altos Ventures and existing investors Silverton Partners and March Capital Partners.

SpyCloud helps prevent ATO by identifying exposed employee and customer accounts and passwords as early as possible, then notifying and helping companies proactively remediate those accounts in an automated fashion, all before criminals can commit fraud or cause significant harm to finances, IP, sensitive data and brand reputation.

SpyCloud security researchers use multi-tiered underground intelligence gathering techniques and tools to compile the industry's largest and highest quality database of exposed credentials and personally identifiable information (PII), currently holding more than 60 billion assets overall. In 2018 alone, SpyCloud recovered and analyzed almost 3.5 billion sets of online credentials from nearly 3000 data breaches, combo lists and other dark web sources, with more than 2.6 billion of those sets including a password.

"Passwords and their reuse across personal and work accounts are the leading cause of ATO, one of the most imminent threats to businesses of all sizes," said Ted Ross, CEO and co-founder of SpyCloud. "As criminals use more complex, scalable methods to collect and weaponize compromised passwords, organizations need to take proactive measures to prevent, detect and remediate exposures. SpyCloud meets that immediate need."

SpyCloud's product is leveraged to protect millions of employee and customer accounts across hundreds of enterprises in sectors like networking, travel and hospitality, financial services, healthcare, retail and higher education. Enterprise security teams and government agencies also look to SpyCloud for fraud investigations. Furthermore, SpyCloud enables strategic partners to build industry-leading identity monitoring and security solutions for corporate and consumer clients, extending the power of SpyCloud to hundreds of millions of third-party users.

Following the investment round, SpyCloud will continue to grow its security research team and database of uniquely recovered assets, extend R&D and product development to go deeper into specific vertical markets, expand its sales and marketing organization, and increase the company's international footprint.

"SpyCloud is changing the way modern businesses identify and address cybercrime stemming from account takeovers," said Leo de Luna, managing director of M12. "We look forward to helping SpyCloud and its outstanding team accelerate protections for both its customers and their users from this fraudulent activity."

Founded in 2016, SpyCloud raised a $2.5 million seed funding round in 2017 and a subsequent $5 million Series A round in 2018, both from Silverton Partners and March Capital Partners.

For more information and to check your company's ATO exposure, visit https://spycloud.com/.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Crowdsourced vs. Traditional Pen Testing
Alex Haynes, Chief Information Security Officer, CDL,  3/19/2019
BEC Scammer Pleads Guilty
Dark Reading Staff 3/20/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: Well, at least it isn't Mobby Dick!
Current Issue
5 Emerging Cyber Threats to Watch for in 2019
Online attackers are constantly developing new, innovative ways to break into the enterprise. This Dark Reading Tech Digest gives an in-depth look at five emerging attack trends and exploits your security team should look out for, along with helpful recommendations on how you can prevent your organization from falling victim.
Flash Poll
The State of Cyber Security Incident Response
The State of Cyber Security Incident Response
Organizations are responding to new threats with new processes for detecting and mitigating them. Here's a look at how the discipline of incident response is evolving.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-9945
PUBLISHED: 2019-03-23
SoftNAS Cloud 4.2.0 and 4.2.1 allows remote command execution. The NGINX default configuration file has a check to verify the status of a user cookie. If not set, a user is redirected to the login page. An arbitrary value can be provided for this cookie to access the web interface without valid user...
CVE-2019-9942
PUBLISHED: 2019-03-23
A sandbox information disclosure exists in Twig before 1.38.0 and 2.x before 2.7.0 because, under some circumstances, it is possible to call the __toString() method on an object even if not allowed by the security policy in place.
CVE-2018-20165
PUBLISHED: 2019-03-22
Cross-site scripting (XSS) vulnerability in OpenText Portal 7.4.4 allows remote attackers to inject arbitrary web script or HTML via the vgnextoid parameter to a menuitem URI.
CVE-2019-1716
PUBLISHED: 2019-03-22
A vulnerability in the web-based management interface of Session Initiation Protocol (SIP) Software for Cisco IP Phone 7800 Series and Cisco IP Phone 8800 Series could allow an unauthenticated, remote attacker to cause a denial of service (DoS) condition or execute arbitrary code. The vulnerability ...
CVE-2019-1763
PUBLISHED: 2019-03-22
A vulnerability in the web-based management interface of Session Initiation Protocol (SIP) Software for Cisco IP Phone 8800 Series could allow an unauthenticated, remote attacker to bypass authorization, access critical services, and cause a denial of service (DoS) condition. The vulnerability exist...