Recorded Future Raises $25M From Insight Venture Partners to Further Extend Leading Position in Threat Intelligence
New Investment Will Enable the Company to Rapidly Grow its Threat Intelligence Capabilities for Customers and Expand Into New Geographies
BOSTON, Oct. 31, 2017 /PRNewswire/ -- Recorded Future, the leader in threat intelligence (TI), today announced it has raised $25M in a Series E round of funding to build on growing momentum and expand its innovative software product and services to solve a wider spectrum of cybersecurity challenges. Led by Insight Venture Partners, the funding will support the company's meteoric growth, geographical expansion, and its continued commitment to machine learning-based threat intelligence and cutting-edge research.
In addition to financial investment, Insight Venture Partners, investors in leading security companies like Cylance, DarkTrace, and Firemon, brings rich industry expertise to Recorded Future.
"Recorded Future's commitment to customer success and innovation in the threat intelligence space has shown time and time again, it is a best-in-class solution," said Mike Triplett, managing director, Insight Venture Partners. "We are thrilled to welcome the company to our growing portfolio, and look forward to collaborating on the next phase of this journey."
Recorded Future has continuously invested in its market-leading software-as-a-service (SaaS) threat intelligence product to deliver automated, contextual, and relevant intelligence for empowering security teams to defeat cyber threats. Only Recorded Future collects applicable threat intelligence from open, technical, and dark web sources in real time and delivers targeted analytics and alerts to dramatically improve business decisions, operational efficiency, and strengthen network defense.
"Based on a review of previously published market sizing estimates, Gartner forecasts the market to reach almost $1.8 billion by 2021, up from $670 million in 2016," wrote Ruggero Contu, analyst, Gartner. He further noted that, "The company offers a TI platform that applies machine learning and leverages extensive real-time internet crawling capabilities to harvest large amounts of data across the internet and darknet." *
"Our goal remains clear: to support our customers by providing the best threat intelligence on the planet," said Christopher Ahlberg, CEO and co-founder of Recorded Future. "With this cash infusion provided by Insight Venture Partners, we will be able to supercharge our efforts to explore new solutions to the issues plaguing the cybersecurity industry both today and in the future."
About Recorded Future
Recorded Future delivers threat intelligence powered by patented machine learning to significantly lower risk. We empower organizations to reveal unknown threats before they impact business, and enable teams to respond to security alerts 10 times faster. To supercharge the efforts of analysts and SOC teams, our technology automatically collects and analyzes intelligence from technical, open, and dark web sources. Recorded Future delivers measurably more context than threat feeds alone, updates in real time so intelligence stays relevant, and packages information ready for human analysis or instant integration with existing security technology. 86% of the Fortune 100 use Recorded Future. Learn more at www.recordedfuture.com and follow us on Twitter at @RecordedFuture.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $18 billion and invested in over 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit http://www.insightpartners.com/ or follow us on Twitter: @insightpartners.
*Gartner, Competitive Landscape: Threat Intelligence Services, Worldwide, 2017 Authored by: Ruggero Contu and Lawrence Pingree, Published: 26 July 2017
SOURCE Recorded Future
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