Tech

ThreatQuotient continues to grow with new loans reaching $ 22.5 million

ThreatQuotient has completed $ 22.5 million in new financing, including a combination of equity financing and debt financing.

Investment syndicates include New Enterprise Associates (NEA), Adams Street Partners, Escalate Capital, Blu Ventures, Cisco Investments and Gaingels.

According to ThreatQuotient, these players focused on the company’s significant momentum in 2020, especially record bookings and revenue growth.

ThreatQuotient says the company plans to leverage this funding to accelerate the implementation of new innovations currently under development.

John Czupak, CEO and President of Threat Quotient, said: “As a result of the good performance in 2020, we welcomed the opportunity to secure additional funding and add new investors to the syndicate.

“Threat Quotient meets the critical needs of security operations solutions and has important expansion plans to continue this momentum. I am very proud of the team’s efforts and record performance in the challenging 2020. I’m thinking.

“We appreciate the interest and support of all investors and look forward to our continued momentum and success.”

To commemorate the announcement, Threat Quotient highlighted the top achievements of 2020. This includes:

  • Sign a record number of new customers leveraging the ThreatQ platform in a variety of use cases and ThreatQ Investigations cybersecurity situation rooms
  • Complete multiple 7-digit transactions and achieve a record number of transactions
  • Launched a new hosted service on the ThreatQ platform, which has been well received, accounting for over 10% of new bookings.
  • Became the first Pentagon-wide ATO-approved threat-centric security operations platform
  • In 2020, it doubled its global footprint, gaining customers in 12 countries and expanding into Iberia, making it the first threat intelligence platform provider to provide local support from Spain.
  • Obtained US patent 10,902,114 and became the company’s first non-provisional patent for automated cybersecurity threat detection through aggregation and analysis

Top investors commented on this announcement.

Fred Wang, a partner at Adams Street Partners, said: “Since our first investment in Threat Quotient in 2017, their team has continued to prove to the market that there is a significant need for cybersecurity solutions aimed at security operations.

“Attention to detail to customer needs and an innovative approach to solving challenges are several reasons why we are pleased to be able to increase our investment in ThreatQuotient.”

Chris Julich, Managing Director of Escalate Capital Partners, said: “Escalate was impressed with Threat Quotients’ approach to solving key challenges within the cybersecurity industry and the company’s growth to date.

“We are delighted to be part of this investment syndication as an investor in ThreatQuotient. We look forward to ongoing innovations that help our security operations team prioritize, improve detection and accelerate response. “

Lorenzo Tione, Managing Director of Gaingels, said: “As the largest investor network focused on supporting and investing in the best venture support companies that embrace and value diverse leadership, including LGBTQ +, Gaingels is proud to participate in this financing.

“We are determined to support the growth and expansion of ThreatQuotient while strengthening our prospects for success by building a culture that reflects the diversity of our executive team, staff and customers.”

ThreatQuotient continues to grow with new loans reaching $ 22.5 million

Source link ThreatQuotient continues to grow with new loans reaching $ 22.5 million

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