Digital Shadows raises $26m to grow its business
Importance of risk management continues to grow as complexity of risk profiles increases
Digital Shadows has raised $26m in a Series C funding round.
This will be used to expand the capabilities of its SearchLight digital risk management service and fuel global expansion.
Led by Octopus Ventures, with participation from World Innovation Lab, Industry Ventures and all of Digital Shadows' existing investors, the funding will support the company's growth.
Luke Hakes, investor at Octopus Ventures, will be joining the board of directors.
Will Gibbs, investment manager at Octopus Ventures said: "Digital Shadows is a world-leader in digital risk management, and continues to innovate across all verticals and geographies in a highly competitive space. We are seeing growing demand for this service across our portfolio of technology companies, and we think Digital Shadows are best-placed to meet this considerable opportunity."
Alastair Paterson, CEO and co-founder of Digital Shadows, added: "We are excited to have the support of the likes of Octopus, World Innovation Lab and Industry Ventures as we embark on the latest phase of our development and continue to expand our geographic coverage and SearchLight service to help our customers manage their digital risk to protect their business, brand and reputation."
Digital Shadows has continually invested in its SearchLight service which combines scalable data analytics with human analysis to give customers the context and awareness they need to protect their digital footprint from digital risks including cyber threats, data exposure, brand exposure, VIP exposure, infrastructure exposure, physical threat, and third party risk.
Recently, Digital Shadows added mobile application support and increased Dark Web capabilities, and the latest funding is expected to speed up the rate of innovation further to provide even more value to customers.