ThreatConnect, a US-based developer of cyber threat detection software, closed a $16m series B round today led by SAP National Security Services, a subsidiary of enterprise software provider SAP.
The round also included Grotech Ventures, the venture capital firm that led ThreatConnect’s $4m series A round in November 2014, and undisclosed strategic investors.
ThreatConnect’s software aggregates, analyses and combats sophisticated cyberattacks against businesses. The company claims that its lead product is the most widely-adopted threat intelligence platform on the market.
The company will use the series B funding to increase market penetration internationally. SAP’s investment was in advance of the joint development of a version of the ThreatConnect product for SAP’s Hana in-memory database and analytics platform.
Ron Police, chief operating office of SAP National Security Services, said: “Security operations has become a mission critical element of the enterprise in national security and commercial organisations alike. ThreatConnect is the leader in the marketplace and provides a true threat intelligence platform to address the unmet needs of those organisations.
“It is time for security operations to have the same access to enterprise software as do other aspects of the business, and we expect ThreatConnect’s threat intelligence platform to do just that.”