US-based cybersecurity company Recorded Future has secured $12m in a series D round led by Reed Elesvier Ventures, the corporate venturing subsidiary of publishing company Reed Elsevier.
Internet company Google’s corporate venturing unit, Google Ventures, also took part in the round alongside MassMutual Ventures, the investment arm of Massachusetts Mutual Life Insurance; In-Q-Tel, the quasi-corporate venturing unit of US intelligence agency CIA; IA Ventures; and Balderton.
Google Ventures and Balderton backed the company’s $12m series C round in 2012, after Google had participated in a $6.7m series B round in 2010 alongside In-Q-Tel, IA and Atlas Venture. In 2009, Recorded Future received $2.2m in series A funds from Google, In-Q-Tel and IA.
Recorded Future’s software, dubbed Web Intelligence Engine, indexes billions of data sets collected from the web and analyses it for emerging cyberattack patterns.
The company, whose customers include financial institutions, technology companies and government agencies, is currently expanding its teams in the US, UK and Sweden. Kevin Brown, general partner at Reed Elsevier Ventures, joined Recorded Future’s board in conjunction with the funding.
Kevin Brown, general partner at Reed Elsevier Ventures, said: “Recorded Future has built a unique and strong differentiation in the fast-growing threat intelligence market. Turning data from the Web into intelligence is an amazing idea but hard to do really well.
“Recorded Future has created and executed on this vision superbly. The best proof of Recorded Future’s value is seeing their growth in both new and existing enterprise customers. We are delighted to be part of Recorded Future.”