SpyCloud, a cybersecurity company, has successfully raised $110 million in a growth round backed by Riverwood Capital, a significant investor in high-growth tech firms.
Boasting more than 500 prominent market leaders, including half of the Fortune 10 companies, as users, SpyCloud focuses on thwarting various cybercrimes like ransomware, session hijacking, account takeover, and online fraud. Leveraging its proprietary engine that captures and analyzes data from the criminal underworld, SpyCloud offers a unique approach to combating cyber threats, providing value to identity threat detection, endpoint protection, zero trust frameworks, and more.
The company’s innovative platform specializes in identifying and remediating stolen session cookies, credentials, and emerging authentication data, actively exploited by criminals to target enterprises and their supply chains. The introduction of their latest solution, SpyCloud Compass, allows for the post-infection remediation of malware exposures, with a particular focus on compromised assets that are most likely to trigger ransomware attacks.
Furthermore, the secured funding will empower SpyCloud to accelerate innovations across various use cases, release authentication bypass prevention solutions, expand its industry-leading database of recaptured malware assets, enhance analytic capabilities, strengthen integrations with key partners, and bolster global go-to-market teams.
Ted Ross, CEO of SpyCloud, emphasized the company’s seven-year track record of swiftly addressing identity and authentication vulnerabilities as pivotal in breaking the cycle of cybercrime.
He underlined the importance of adapting defense strategies as authentication methods evolve, ensuring businesses can effectively counteract cybercriminals’ evolving tactics. By offering a dynamic solution, SpyCloud aims to empower organizations to illuminate and address critical risks facing security teams, ultimately thwarting unforeseen attacks.
