Investment round pulls in $35M for SpyCloud

SiliconAngle reports that SpyCloud, a Texas-based cybersecurity firm, has secured $35 million from a new investment round, bringing the total money raised to nearly $168 million.

Such newly obtained funds will be allocated toward strengthening the capabilities of its cybercrime prevention tools, including an account takeover prevention platform that not only enables the detection of exposed employee credentials and compromised cookies but also protects consumer accounts. SpyCloud has also touted its platform's integration with Okta, Active Directory, Microsoft Sentinel, and Palo Alto Networks Cortex XSOAR, among other security systems.

"As the threat landscape continues to evolve, it's imperative that digital identities are well protected since they're the entry point for so many targeted attacks. Building automated solutions that combat cybercrime has been our vision since day one, and the financing we received from CIBC Innovation Banking will allow us to continue innovating and growing," said SpyCloud co-founder and CEO Ted Ross.