LookingGlass closes $50 million Series C

The big investment money for cybersecurity keeps rolling in.

LookingGlass, which was founded in Baltimore and still has an office in Canton, closed a $50 million funding round late last week. The Series C, led by NewSpring Capital, is the second eight-figure funding round for the company this year following a $20 million Series B in March. Additional investors included Alsop Louie Partners and the Neuberger Berman Group.
One use for the new funding was an acquisition, CEO Chris Coleman said. LookingGlass acquired 18-year-old Cyveillance, which is based in Northern Virginia. The company makes a cloud-based platform that can be customized for specific customer needs, and relies on open source intelligence. That “augments” the existing capabilities of LookingGlass, Coleman said.
https://twitter.com/LGScout/status/676401434225692672
Cyveillance is LookingGlass’ third acquisition of the year. The company added 80 employees and a pair of western U.S. offices with its acquisition of CloudShield in March. CloudShield was an open platform, and LookingGlass planned to tailor its capabilities to enterprise clients, Coleman said at the time. Over the summer, LookingGlass acquired Prague-based firm Kleissner & Associates in a move to expand its international presence.
Coleman said the company has about 250 employees. With the Series C money, it is also looking to expand in product, sales, marketing and customer support. The company is “continuing to hire across all of our locations,” Coleman said.
The LookingGlass funding news follows three other big rounds for cybersecurity companies in the area. Tenable Network Security set records with a $250 million Series B round, while Baltimore-based ZeroFOX raised $27 million and RedOwl Analytics raised $17 million. The deals all hit right after the Cybersecurity Association of Maryland launched a new effort to bring more cybersecurity business to the state.