Qadium, a US-based internet indexing company backed by media company O’Reilly Media, raised $40m in a series B round yesterday led by Institutional Venture Partners.
TPG Growth, New Enterprise Associates (NEA), Founders Fund, Susa Ventures and assorted angel investors also participated in the round.
Qadium has developed technology to index devices connected to the public internet, updating its logs every hour to continually monitor networks and identify potential security risks such as misconfigured cloud hosting platforms and unauthorised internet of things equipment.
The money will go towards sales and marketing activities and will also drive recruitment across Qadium’s engineering and product teams.
Qadium previously obtained $20m in a series A round in June 2016 led by NEA. The round also featured Founders Fund and unnamed, existing backers.
O’Reilly Media, through its corporate venturing subsidiary O’Reilly AlphaTech Ventures, contributed to a $6m seed round in 2015 with Founders Fund, which led the round, Susa Ventures and private investors as well as Defense Advanced Research Projects Agency (Darpa), the Pentagon’s innovation and research arm.
Matt Kraning, chief technology officer and co-founder of Qadium, said: “Our technology would have been impossible just a few years ago.
“Now, we leverage distributed and massively parallelised computation to monitor the global internet in real time. It is the first game-changer in a decade for defenders in cyberspace, allowing them to find and fix risks faster than attackers can exploit them.”