Social media cybersecurity company ZeroFOX announced $40 million in new investment funding on Wednesday morning.
The Federal Hill-based company is looking global with the Series C round. Luxembourg-based Redline Capital Management and Silicon Valley-based Silver Lake Waterman led the funding round. Prior investors NEA, Highland Capital Partners and Core Capital also participated.
“We back market leaders, and we searched throughout the world to find the organization that was best suited to address these next generation security challenges,” said Alastair Cookson, a Redline Capital Management partner who is joining the company’s board with the deal. “ZeroFOX’s platform enables organizations to gain visibility and achieve control of their external assets in real-time.”
2) New investment will drive global expansion & product advancement. ZeroFOX also adds Redline Capital's Alastair Cookson to the board.
— ZeroFox (@ZeroFox) July 12, 2017
The company has now raised $88 million. It’s one of the largest funding rounds to date for a company that is among the new group of cybersecurity startups forming in the city. Founded in 2013, ZeroFOX graduated Betamore before moving to larger space in the Federal Hill building that houses the tech hub. Last year, the company moved to offices in a former Pabst plant in the neighborhood.
The company specializes in detecting threats on social media. The company’s platform, which is sold to on a subscription basis, provides monitoring of social media and analytics on threats. In a statement, CEO James Foster said the funding “enables us to accelerate product innovation, enforce our intellectual property and expand our global presence, ensuring that all organizations are protected from targeted attacks.”