Despite slow funding flow, cybersecurity tech startups continue to show signs of resilience to the effects of the economic slowdown that’s been impacting the overall tech sector. Global venture funding in cybersecurity startups rises in 2023 as companies look for security tools to protect themselves against cyber threats.
About $1.1 billion was invested in 52 cybersecurity startup companies across 30 unique product categories in January 2023, up from $890.8M in December 2022. One of these companies is SOCRadar, a tech startup that provides an early warning system against cyber threats with External Attack Surface Management, Cyber Threat Intelligence, and Digital Risk Protection.
Today, SOCRadar announced it has raised $5M in Series A funding to accelerate the growth of its new extended threat intelligence (XTI) cybersecurity platform. The investment for this round came from investor 212, the leading venture capital firm backing B2B tech startups.
SOCRadar will use the fresh capital infusion to scale its US business and expand global sales and marketing operations, ensuring data security is available and accessible for companies of all sizes. A significant part of the investment will also be used to fund research efforts to expand and enhance product offerings as the cyber threat landscape continues to evolve.
Founded in 2019 by CEO Huzeyfe Onal and CTO Ahmet Kurukose, SOCRadar enables organizations to maximize the efficiency of their SOC teams with false-positive, free, actionable, and contextualized threat intelligence. SOCRadar’s free edition for premium cyber threat intelligence is currently used by more than 6000 companies in 150 countries.
“Our mission at SOCRadar is to help organizations worldwide take proactive measures against cyber attackers,” said CEO and Co-founder Huzeyfe Onal. “We believe cyber threat intelligence, when provided in an actionable and contextualized manner, and combined with External Attack Surface Management (EASM) and Digital Risk Protection (DRPS), is essential to counter cyber-attacks. This investment will contribute to our efforts to have a more democratized cyber threat intelligence ecosystem.”
Founding Partner Numan Numan said, “At 212, we partner with people driven by a strong global vision and have the talent and skills to pursue that vision. We have been consistently impressed by the SOCRadar team’s ability to grow, as well as their determined mission. We look forward to being a part of their journey as they strive to make their mark in the global cybersecurity arena.”
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- Source: https://techstartups.com/2023/03/08/cybersecurity-startup-socradar-lands-5m-in-series-a-funding-for-its-extended-threat-intelligence-xti-platform/
