ThreatQuotient has obtained $22.5 million in new financing, which includes a combination of equity and debt financing. According to the firm, the investment syndicate comprise New Enterprise Associates (NEA), Adams Street Partners, Escalate Capital, Blu Ventures, Cisco Investments and Gaingels, who took notice of the company’s significant momentum in 2020, specifically their record bookings and revenue growth. ThreatQuotient said it plans to leverage this financing to drive execution of new innovations currently in development.
“As a result of strong performance in 2020, we welcomed an opportunity to secure additional funding and add new investors to our syndicate. ThreatQuotient is meeting a critical need for security operations solutions, and we have significant expansion plans to continue this momentum,” said John Czupak, President and CEO, ThreatQuotient. “I am incredibly proud of our team’s efforts and record setting performance in a challenging 2020. I thank all of our investors for their interest and support, and I look forward to our continued momentum and success.”
ThreatQuotient has had several notable achievements in 2020. The company signed a record number of new customers, who are leveraging the ThreatQ platform for a variety of use cases as well as the ThreatQ Investigations cybersecurity situation room. It has closed multiple seven figure deals and achieved a record number of transactions as well as launched a new Hosted Service of the ThreatQ platform. The company has also doubled itsglobal footprint in 2020 with customers in 12 new countries and became the first threat intelligence platform provider offering local support from Spain as a result of the company’s expansion into Iberia.
ThreatQuotient has also been recognized for product excellence and industry leadership by several award programs in 2021. The company won four 2021 Globee Cybersecurity Excellence Awards, including: Gold for Security Investigation, Silver for both Threat Intelligence Technology and Hot Security Company of the Year, and Bronze for Threat Hunting, Detection, Intelligence and Response. It also won three 2021 Cybersecurity Excellence Awards: Gold for Security Investigation, and Silver for both Threat Detection, Intelligence and Response and Best Cybersecurity Company. Additionally, ThreatQuotient was recognized as McAfee Partner of the Year for the second consecutive year and the company was listed in the 2021 CRN Partner Program Guide.
“ThreatQuotient gives SOC analysts, incident responders and threat analysts unmatched flexibility, visibility and control over their company’s alerts and unique threats that they can’t get from other security operations solutions. NEA is confident that ThreatQuotient’s continued momentum will lead to further market capture,” said Peter Barris, Managing General Partner, NEA.
