Hunter of data on the Dark Web Terbium Labs has secured $6.4 million from investors in a Series A funding round.
Terbium Labs touts itself as a company which protects the enterprise from "relentless attempts to steal data for personal, monetary or political gain." In 2015, the Baltimore, MD.-based startup launched Matchlight, software which monitors the Dark Web -- a small fraction of the Deep Web associated with illegal dealings -- in real-time and alerts companies when information belonging to them appears there.
If data can be detected quickly, companies have more time to conduct damage control and potentially seal a data breach. Information on the Dark Web could include consumer records, sensitive corporate data or trade secrets -- in short, data that firms wish to keep secure within their own servers rather than released to the public domain.
The funding round, led by .406 Ventures, brings the company's overall investment up yo $9.7 million. The company plans to use the funding to expand its team and boost Matchlight sales in the enterprise realm.
Greg Dracon, Partner at .406 Ventures and Terbium Labs board member commented:
"Terbium Labs is redefining how security teams identify breaches and protect their organization's most critical data.
Managing data breach risk has become a business necessity as breach frequency is at an all-time high with no signs of slowing down. Matchlight picks up where traditional prevention tools fail, giving organizations the ability to counter data theft quickly, privately and affordably."
Earlier this month, cloud security firm Bitglass revealed the results of an experiment focused on how quickly stolen data spreads through the Dark Web. The company found that within days, financial credentials leaked to the underground spread to 30 countries across six continents with thousands of users accessing the information.
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