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SpecterOps Raises $75M in Series B to Combat Personal Security Threats market
SpecterOps, a frontrunner in adversary-focused cybersecurity solutions, has successfully secured an impressive $75 million in its Series B funding round, aiming to bolster defenses against rising identity security threats.
Insight Partners Takes the Lead
The funding round was led by Insight Partners, well-known for its investments in innovative software companies, with substantial backing from Ansa Capital, M12, Ballistic Ventures, Decibel, and Cisco Investments, signaling strong confidence in SpecterOps’ mission.
Revolutionizing Identity-Security Management
With this funding, SpecterOps plans to scale its groundbreaking BloodHound Enterprise (BHE) platform, the first of its kind designed to eliminate identity-based attack paths. By viewing enterprise identity infrastructures as dynamic, interconnected graphs, the platform continually identifies and mitigates potential security vulnerabilities.
Rapid Growth and Expansion on the Horizon
Since the launch of BHE in 2021, SpecterOps has experienced explosive growth, boasting a remarkable 100% year-on-year increase in annual recurring revenue (ARR) for 2024 and a surge of over 60% in new customer acquisitions in just the fourth quarter.
Community Engagement and Contributions
Beyond its innovative products, SpecterOps is committed to advancing cybersecurity knowledge. The company maintains the BloodHound Community Edition, an acclaimed open-source pen-testing tool recognized by Microsoft and CISA. With over 400 contributions to the security community, 90 open-source tools developed, and more than 7,000 students trained, SpecterOps showcases its dedication to enhancing cybersecurity practices.
CEO’s Vision for the Future
David McGuire, CEO of SpecterOps, emphasized the importance of a proactive approach to identity threats, stating, “With the increasing complexity of identity architectures, organizations need to view their identity ecosystem as a living graph. This funding will allow us to expand and empower businesses to effectively counter modern identity security challenges.”
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of September 30, 2024, the firm has over $90B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.
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