Recorded Future, the leader in threat intelligence (TI), has raised USD25 million 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,” says 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 defence.
“Based on a review of previously published market sizing estimates, Gartner forecasts the market to reach almost USD1.8 billion by 2021, up from USD670 million in 2016,” says Ruggero Contu, analyst, Gartner. “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,” says 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.”
