Venture Capital News: ZeroFOX Raises $40M in Series C
BALTIMORE, MD, Social media and digital risk monitoring market leader, today announced that it has closed $40 million in funding.
ZeroFOX, the social media and digital risk monitoring market leader, today announced that it has closed $40 million in funding led by Redline Capital Management and Silver Lake Waterman, Silver Lake's late stage growth capital fund. The round also includes existing investors NEA, Highland Capital Partners and Core Capital. The company will use the funds to drive rapid global expansion and continued product innovation. Including the new Series C, ZeroFOX has received a total of $88 million in funding to date.
"Organizations around the globe are quickly realizing the risks associated with using external social and digital platforms for business communication"
In conjunction with the round, ZeroFOX also announced that Alastair Cookson, Partner at Redline Capital Management, has joined the company's Board of Directors. Bringing two decades of global emerging market experience and a track record of successful security and technology investments, Mr. Cookson will help drive ZeroFOX's accelerated expansion into new, worldwide markets.
"With the mass adoption of social media, organizations of all sizes are contending with new threats that do not show up in their existing monitoring, let alone defense and remediation capabilities," said Alastair Cookson, Partner, Redline Capital Management. "We back market leaders, and we searched throughout the world to find the organization that was best suited to address these next generation security challenges. ZeroFOX's platform enables organizations to gain visibility and achieve control of their external assets in real-time. We are excited to support them down their path of rapid growth."
"Social media is an important fabric that connects businesses with their customers. Like other forms of digital communication, it is being rapidly leveraged for targeted attacks," said Shawn O'Neill, Managing Director, Silver Lake Waterman. "Their platform has been recognized as the category leader, and we are excited to partner with ZeroFOX."
Business and personal use of social media have blurred over time, creating new enterprise protection challenges for organizations. Using artificial intelligence and its patented enterprise-grade platform, ZeroFOX protects organizations from targeted phishing attacks, social media account compromise, data exfiltration, brand hijacking and more. Using a patented programming language called FoxScript, ZeroFOX exposes both it's artificial intelligence backend and fully extensible APIs. FoxScript was designed in tandem with our customers and partners, and without any programming experience required, it quickly and easily enables customers to modify our extensive library of protection policies. ZeroFOX was Top-Ranked in Customer References by the Forrester Digital Risk Monitoring Wave.
"Organizations around the globe are quickly realizing the risks associated with using external social and digital platforms for business communication," said James C. Foster, Chairman and CEO, ZeroFOX. "ZeroFOX is dedicated to helping customers stay ahead of targeted attacks against their businesses. Threats initiated by today's attackers affect everyone regardless of an organization's size, industry or location. This round of funding enables us to accelerate product innovation, enforce our intellectual property and expand our global presence, ensuring that all organizations are protected from targeted attacks."
Founded by a team of information security and high-growth start-up veterans, ZeroFOX has collected top industry awards such as the 2017 Red Herring 100, SINET16 Champion, Dark Reading's Top Security Startups to Watch, TechBuzz Champion and the Security Tech Trailblazer of the Year.
For more information about ZeroFOX and this latest round of funding, please click here.
ZeroFOX protects organizations from the dynamic risks introduced by social media and digital platforms. Recognized as a leader in Digital Risk Monitoring by Forrester, ZeroFOX's cloud-based, SaaS platform processes millions of posts and accounts daily across the social landscape, spanning Facebook, LinkedIn, Twitter, Instagram, YouTube and more. Leveraging patented technology, targeted data collection, intelligent analysis, automated remediation, and proven security practices, ZeroFOX protects businesses from targeted attacks and provides global insights into the world of social media threats. Led by a team of information security and high-growth start-up veterans, ZeroFOX has raised over $88 million in funding from NEA; Highland Capital; Redline Capital Management; Silver Lake Waterman, Silver Lake's late stage growth capital fund; and others and has collected top industry awards such as the 2017 Red Herring 100, SINET16 Champion, Dark Reading's Top Security Startups to Watch, TechBuzz Champion, and the Security Tech Trailblazer of the Year.
About Redline Capital:
We are a global Venture Capital and Growth Equity fund investing in fast-growing companies with differentiated technologies across North America, Europe and Israel. Redline focuses on entrepreneurs who are transforming industries, and has the depth of expertise to help transformative entrepreneurs as they globalize. Redline is looking to back strong management teams, enable their vision & strategy and lend its support through all stages of their development. For more information about Redline Capital, please visit http://www.redline-capital.com/.
About Silver Lake Waterman:
Silver Lake Waterman is part of Silver Lake, the global leader in technology investing with about $39 billion in combined assets under management and committed capital and a team of approximately 100 investment and value creation professionals located around the world. Silver Lake Waterman focuses on providing flexible expansion capital to later-stage growth companies in the technology and technology-enabled industries. For more information about Silver Lake Waterman and Silver Lake, please visit www.silverlake.com.
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