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Cyble, a cybersecurity startup specializing in threat intelligence, has announced a $24 million Series B funding round. The round was co-led by Blackbird Ventures and King River Capital, with participation from Spider Capital, January Capital, Summit Peak Ventures, and others. The new funding will be directed towards research and development and market expansion.
Founded in 2019 by Beenu Arora and Manish Chachada, Cyble monitors both dark web and “surface web” data to map and attempt to mitigate companies’ digital risk footprints. The startup builds custom threat-hunting solutions for customers, including government agencies and Fortune 50 brands, and claims to have visibility into over 6,000 “darknet” marketplaces.
The Importance of Threat Intelligence
Threat intelligence, the data collected and analyzed to understand a malicious actor’s motives, is becoming an increasingly important component in combating emerging cyber exploits. According to a 2022 survey from Security Magazine, 75% of companies have dedicated threat intelligence teams, and two-thirds have dedicated threat intelligence budgets.
However, talent issues pose a significant challenge for many organizations’ intelligence efforts. The same survey found that 73% of organizations see a “lack of skills” as their biggest threat intelligence challenge.
Cyble’s Unique Approach and Competition
Cyble differentiates itself by deploying groundbreaking technology that is revolutionizing cybersecurity. Its platform is capable of identifying and guarding against diverse threats from across the web on an unprecedented scale. The startup competes with vendors like SnapAttack, which also offers a library of labeled threat data.
Despite the competition, investor Zeb Rice from King River Capital praised Cyble’s approach, stating, “From our extensive work in AI over the last 15 years, it’s evident Cyble is deploying this groundbreaking tech in a way that is revolutionizing cybersecurity.”
Looking Ahead
With the new funding, Cyble is set to enhance its threat intelligence capabilities and expand its market reach. The company’s innovative approach to threat intelligence and its focus on both dark web and surface web data position it well to make a significant impact in the cybersecurity industry. To date, Cyble, based in Atlanta, Georgia, has raised $38.6 million in funding.
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