Arlington-based cybersecurity startup Cyber Squared took on a new name along with $4 million in a Series A funding round on Thursday. The round was led by Grotech Ventures, another Virginia-based company. Now called ThreatConnect, after its most popular product, the company formerly known as Cyber Squeared said it will use the money to advance its products and aim at a global market.
It's not totally ditching the old brand however. Cyber Squared will be the name used for its consulting services. ThreatConnect will be for everything else it makes like its namesake platform. This is the first time that the company has sought outside investment, relying on its own revenue, which it claims will double in 2015, until now.
"We’re excited to partner with Grotech Ventures for this next stage of growth," said ThreatConnect CEO and co-founder Adam Vincent in a statement. "It’s time security professionals have the power to effectively leverage all sources of threat intelligence in order to protect their enterprises. “As adversaries become increasingly complex, a Threat Intelligence Platform is becoming mandatory and ThreatConnect is the leader in helping organizations better understand the threat and automate defenses across all of their existing security investments."
Cybersecurity is a very hot commodity right now for both Northern Virginia and the larger D.C. area. Bigger companies are snapping up smaller cybersecurity companies left and right and Virginia's MACH37 incubator among other groups are anxious to spawn new companies or lure existing ones to their area. to keep up with the demand for cybersecurity expertise. Undeniably the D.C. cybersecurity scene is booming and news of more investment in cybersecurity companies is just a matter of time.
