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The market seems to agree. Nizan’s threat intelligence company announced Tuesday that it raised $30 million in its Series D round to expand its suite of intelligence and remediation tools. The round was led by Qumra Capital, and brings the company’s total funding to more than $70 million, according to Crunchbase.
IntSights, which was founded in 2015, raised its Series C in June 2018, a $17 million investment with Tola Capital as its lead investor. The company’s other backers include Blumberg Capital and Glilot Capital Partners.
Often in the past, companies used multiple tools for threat detection: one tool for social media monitoring, another for the dark web, and so on. IntSights wants to provide a comprehensive solution, according to Nizan.
“We don’t just detect, we don’t just contextualize, we also remediate the threat,” Nizan said. The fourth “level” of defense that the company is working on is developing what information and insights a customer can get from the threats.
The company will invest in research and development and growing its sales teams in the United States. The company also has offices in Singapore, Amsterdam, and Israel.
Last year, IntSights surpassed the $10 million annual recurring revenue threshold, more than doubling its preceding result; investors covet revenue growth that strays north of 100 percent.
Its goal for 2019 is to double its ARR again, and repeat the feat in 2020, Nizan said.
Along with the new funding, IntSights has added to its executive team. David Johnson was appointed to IntSights’ advisory board, Jason Thompson is the company’s new chief operating officer and chief marketing officer, and Brian Costello is now IntSights’ vice president of Americas’ Sales and Global Channels.
Cybersecurity has been a hot space for some time. Clearly, it isn’t slowing down.
Illustration Credit: Li-Anne Dias