Investment is still pouring into the security startup space. The latest is the news that ThreatQuotient has raised $1.5 million in a seed round of funding, illustrating just how hot the threat intelligence field is right now.
The initial funding will be used to expand the market reach through both direct and channel partner activities, and to further enhance ThreatQ, the company’s threat intelligence platform.
“As cyber-attacks continue to escalate across the globe and security teams are challenged to aggregate and distill massive amounts of threat intelligence these security teams require an enabling platform to make faster, better informed decisions on how to best protect themselves,” said Wayne Chiang, CEO and co-founder of ThreatQuotient. “We’re excited to partner with these leading early-stage investors as we break out of stealth mode and continue delivering on our innovative platform which is fast becoming a core tool for security teams to lean on.”
“Cyber intrusions have a significant financial impact on enterprises from compliance penalties to brand erosion. As an investor I was drawn to this opportunity where an innovative technology better enables cybersecurity operations to mitigate the risk of harmful cyber-attacks,” said Todd Headley, angel investor in the round and former CFO at Sourcefire. “I believe ThreatQuotient's early success and long-term vision position them to become a market-leading solution that can bridge the cyber industry gap between the providers of intelligence and the tools that consume this data.”
ThreatQuotient was founded in 2013 by Chiang and Ryan Trost, who previously worked at the security operations center (SOC) of one of a large defense contractor. The threat intelligence platform has been conceived, they said, as a way to help security teams streamline the lifecycle of threat intelligence and empower analysts to make better investigation decisions.
The round was led by Blu Venture Investors, Center for Innovative Technology and the Virginia Tech Investor Network (VTIN) which includes Headley.