Qadium Gets $40M Series B for Internet Visibility

Visibility. It's what network security requires, IT departments tend not to have, and Qadium has just received $40 million in Series B funding to provide as a service.

Qadium, a five-year-old company based in San Francisco, provides a service called Expander that has software bots crawling the public Internet every hour to build a database of every device attached to the Internet.

From the database of devices, Qadium can provide customers with a inventory of the devices that are actually attached to their network -- from IoT devices to shadow IT endpoints to cloud-based servers. It's visibility that companies and government agencies are willing to pay fees of seven figures a year to obtain.

Expander is useful not only for finding unknown devices on an organization's network, but also for finding devices assumed to be isolated on private networks that, through misconfiguration or exploit, have been exposed to the public Internet. The company's web site leads with the provocative, "Know Your Unknowns," echoing Donald Rumsfeld's famous list of that which is known and that which is unknown.

In a written statement announcing the Series B funding, co-founder and CTO Matt Kraning said, "Our technology would have been impossible just a few years ago. Now, we leverage distributed and massively parallelized computation to monitor the global Internet in real time. It’s the first game-changer in a decade for defenders in cyberspace, allowing them to find and fix risks faster than attackers can exploit them."

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The current round of funding was led by previous investor IVP and new investor TPG Growth. Prior investors New Enterprise Associates (NEA), Founders Fund, Susa Ventures and angels also participated. Original seed funding of $6 million was led by Palantir chairman Peter Thiel, while Series A funding of $20 million was led by Scott Sandell of NEA.

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— Curtis Franklin is the editor of SecurityNow.com. Follow him on Twitter @kg4gwa.