Acquisitions / Business / Cybersecurity / Startups

Baltimore cybersecurity company Terbium Labs has been acquired by Deloitte

The company's platform and services will be added to the consulting giant's cyber offerings. It marks an exit for one member of a generation of Baltimore City's cyber product startups.

How Terbium's Matchlight product works. (Courtesy image)

A subsidiary of Big Four accounting firm Deloitte said this week that it acquired “substantially all of the assets” of Baltimore cybersecurity company Terbium Labs.

With the deal, the services and technology of Terbium Labs is joining Deloitte & Touche, LLP’s cyber practice as part of a suite of services called “Detect & Respond.” Terms of the acquisition were not disclosed.

Terbium Labs makes a platform designed to help companies with risk protection called Matchlight. It uses a technique called data fingerprinting, which gives a unique identifier to a company’s data, without showing what the data contains. It uses AI and machine learning to detect whether the data is being exposed, stolen or otherwise used for illicit purposes around the web beyond a company’s systems.

“Finding sensitive or proprietary data once it leaves an organization’s perimeter can be extremely challenging. Advanced cyber threat intelligence, paired with remediation of data risk exposure requires a balance of advanced technology, keen understanding of regulatory compliance and fine tuning with an organization’s business needs and risk profile,” said Kieran Norton, principal at Deloitte & Touche, in a statement.  “Adding Terbium Labs’ business to our portfolio will offer our clients one more way to continuously monitor for — and, when appropriate, minimize the impact of — data exposed on the open, deep, or dark web.”

One of a handful of cybersecurity product startups that emerged from talent out of Maryland’s federal labs and made a base in Baltimore City, the company was founded in 2015 by Johns Hopkins Applied Physics Lab alums Danny Rogers and Michael Moore.

Based in South Baltimore, it attracted investment over the ensuing years from the philanthropic investment network of eBay founder Pierre Omidyar, as well as Boston-based firms including Glasswing Ventures and .406 Ventures, and Baltimore-based Gamma 3.

In 2019, the company announced Patrick Clawson as the new CEO as it made enhancements to the platform. In March 2021, the company also announced a strategic investment from Jefferson Health and Thomas Jefferson University.

It’s the second Baltimore-area cyber company to be acquired by a corporate leader this month. Microsoft acquired Fulton-based ReFirm Labs on June 2 to in a move to bolster IoT security.

For its part, Deloitte has now made three cyber acquisitions in 2021, following moves to bring on cyber threat hunting provider Root9B, LLC and cloud security posture management provider CloudQuest. has reached out to Deloitte for more info about the integration, and will update this story if we receive a response.

Companies: Terbium Labs / Deloitte

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