SpyCloud closes USD 30 mln funding for its anti-fraud platform

Thursday 20 August 2020 09:48 CET | News

US-based SpyCloud has announced that it has closed on USD 30 million in additional venture capital funding, Silicon Hills News reports.

The cybersecurity company was founded in 2016, and to date, it has raised USD 58.5 million, according to Crunchbase. Centana Growth Partners led SpyCloud’s Series C investment, with participation from all existing investors: M12, Altos Ventures, Silverton Partners, and March Capital Partners. SpyCloud plans to use the funds raised to expand its product and engineering teams and build new ways to detect and prevent fraud.

SpyCloud’s anti-fraud platform specialises in preventing account takeover by criminals, and its software can find vulnerabilities in a company’s computer system before cybercriminals can strike. The software flags employees and customer accounts that have security issues early on. And the company checks to make sure the accounts have not been exposed and passwords are secure.

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Keywords: SpyCloud, anti-fraud platform, customer accounts, security, account takeover, criminals
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime