Reston security software startup ThreatQuotient Inc. just raised $22.5 million in equity and debt funding.
The round, announced Tuesday, came from New Enterprise Associates, Adams Street Partners, Escalate Capital, Blu Ventures, Cisco Investments and Gaingels.
The company plans to use the fresh financing “to accelerate innovation to bring new capabilities to the ThreatQ platform” and support its global growth strategy, ThreatQuotient Chief Financial Officer Lenn Kurtzman said in an email. “The company is planning on announcing several significant new product releases in the near future,” he said.
ThreatQuotient, which arms users with threat data and cybersecurity tools, saw record bookings and revenue growth in 2020, though Kurtzman declined to disclose revenue. But, he said, “we believe that 2021 should be a high growth year for ThreatQuotient.”
The threat intelligence company has “significant expansion plans to continue this momentum,” President and CEO John Czupak said in a statement.
ThreatQuotient provides its users a catalogue of cyber threat data, aggregates internal company data and scores all of that data based on the client’s priorities. That information can help automate detection and responses to certain cyber attacks within one department or across a company.
The business doubled its footprint last year and now has customers in 12 countries — and half of its business coming from outside of the U.S. It recently opened an office in Madrid, Spain and has more than 100 customers across 17 industries, Kurtzman said.
The company has raised $60 million in equity funding to date, according to Kurtzman. That includes $7.86 million in August 2019 and $30 million in November 2017. ThreatQuotient counts 115 employees globally with plans to grow its headcount 25-30% by the end of the year, Kurtzman said.
