Terbium Labs closes $6.4 million Series A - Technical.ly Baltimore

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Feb. 29, 2016 11:38 am

Terbium Labs closes $6.4 million Series A

The South Baltimore-based company is looking to ramp up sales of its dark web-scouring SaaS product, Matchlight.
How Terbium’s Matchlight product works.

How Terbium's Matchlight product works.

(Image courtesy of Terbium Labs)

The cybersecurity world is getting together on the West Coast this week for RSA. One Baltimore company started off the week with a big funding headline.

Dark web-scouring startup Terbium Labs announced the closing of a $6.4 million Series A on Monday.

The funding round was led by Boston-based .406 Ventures. The startup, which was founded by Johns Hopkins Applied Physics Lab alums Danny Rogers and Michael Moore, has now raised $9.7 million in funding.

The startup, which is based in the same South Baltimore building as M.C. Dean and Gemstone Biotherapeutics, is set to use the money to expand staff and sales of its SaaS product, Matchlight. The company currently has 10 employees, and expects to hire an additional five over the next year.

Matchlight, which came out of stealth mode in June, gives a company’s data a unique fingerprint, and can scan the dark web for stolen information if there is any sign of a breach. Rogers told us in August that the product’s key function is the ability to cut down on the time between when data is breached, and when it is detected and found.

Matchlight is currently being used in partnerships with IBM and Thomson Reuters. Terbium Labs also said dozens of clients using Matchlight, but declined to name them.

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