Spain-based cybersecurity intelligence technology developer 4iQ secured $14m on Tuesday in a series A round featuring Telefónica Open Future, a subsidiary of telecommunications firm Telefónica.
Trident Capital Cybersecurity led the round, which also included fellow venture capital firm Adara Ventures. Telefónica Open Future supplied its share of the funding through its parent company’s corporate venturing unit, Telefónica Ventures.
4iQ has built a cyber risk intelligence platform that covers surface, social, deep and dark web sources, helping analysts investigate issues and collaborate with each other.
The company also provides a risk management service for businesses that have experienced breaches and had data and credentials stolen. Its technology powers the strategy of ElevenPaths, the cybersecurity company formed by Telefónica in 2013.
Monica Pal, CEO of 4iQ, said: “Unlike other companies that focus on technical risk inside the company’s network, 4iQ focuses on business risk that comes from beyond the corporate network, in documents exposed and data traded in underground communities in the deep and dark web.”
Alberto Yépez, co-founder and managing director of Trident Capital Cybersecurity, is taking the chairman position at 4iQ in conjunction with the round, which follows an undisclosed amount of seed funding from Adara Ventures.