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Add ThreatQuotient to the growing list of startups that are making 2017 a banner year for cybersecurity funding.
The Reston, Va. threat intelligence firm announced on Nov. 13 that had secured $30 million in venture capital financing. The Series C round brought the company's total haul to $54 million.
Adams Street Partners led this latest round, with additional backing from two notable technology companies, computer networking giant Cisco and NTT Docomo, Japan's leading mobile carrier. New Enterprise Associates and Silicon Valley Bank also participated in the round.
ThreatQuotient plans to use the new infusion of cash to beef up its sales and marketing operations, both in the U.S. and abroad. The firm is also devoting some of the funds to the ongoing development efforts surrounding its ThreatQ threat intelligence platform.
ThreatQ offers enterprise security teams a collaborative threat operations and management toolset. The automated and self-tuning solution gathers and prioritizes threat information, enabling cybersecurity workers to quickly find, address and resolve potential risks to their vital data.
John Czupak, CEO of ThreatQuotient, said his company's solution can help transform a security operations (SecOps) team from reactive participants in today's hectic cybersecurity arms race of into proactively efficient defenders.
"SecOps teams are challenged by an excess of threat data and events - both internal and external, too few resources and too many manual processes. As a result, they are stuck in a reactive mode of detect and respond," lamented the ThreatQuotient executive.
"ThreatQ empowers security teams to break out of this cycle like no other threat intelligence platform can - with deep visibility, customizable controls and customer-specific prioritization and noise reduction capabilities," continued Czupak. "Through the use of our platform customers can automate and accelerate detection and response, and begin to understand and anticipate threats to be more efficient and effective with the existing resources, people and systems that are already in place."
ThreatQuotient isn't the only threat intelligence specialist to attract the attention of technology investors.
Last month, cyber-threat intelligence firm Recorded Future announced the completion of a Series E round worth $25 million. The Somerville, Mass. company's AI-enabled SaaS product uses machine learning and monitors the dark web to help enterprise SecOps teams thwart cyber-attackers.
These companies operate in an increasingly crowded market for threat intelligence solutions. Top vendors include IBM, RSA, FireEye and Palo Alto Networks.