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Security firm ThreatMetrix raises $20M

(Credit: ThreatMetrix) Image shows a screenshot capture of the website of ThreatMetrix.ThreatMetrix
March 27
8:48 AM 2014
by Nicel Jane Avellana

Security firm ThreatMetrix secured $20 million, VentureBeat reported citing a filing submitted to the US Securities and Exchange Commission.

The report did not mention the names of the investors but the most recent funding round brought to $56.4 million the company's fundraising total so far. The round came after the company that offers advanced cybercrime prevention solutions entered into the nascent online gambling industry of New Jersey, the report said.

In 2012, ThreatMetrix was able to secure an $18 million for its fourth financing round from August Capital. According to the company, the fresh capital would be used to expand its international footprint. It has not yet stated what it will do with the latest proceeds, the report said. This came after a $12.1 million third funding round in 2010 from US Venture Partners, August Capital, Tenaya Capital and CM Capital, according to a March 26, 2012 VentureBeat report on the matter.

Two years ago, ThreatMetrix rode the "bring your own device" or BYOD trend for enterprise firms. This enabled employees to be able to utilize their mobile devices like their smartphones and tablets at work in a securely and safely. ThreatMetrix began tinkering with strategies to determine the identities of its users without requiring personal data four years ago. Before that, the cybercrime protection firm began to provide its solutions to e-commerce and social media firms that were very much affected with fraud, the report said.

The 2012 VentureBeat report said ThreatMetrix offers the Cybercrime Defender Platform which offers a host of security tools. It features device identification, malware and mobile malware protector and others. The tools were an offshoot of ThreatMetrix's purchase of TrustDefender in December 2011 and have paved the way for the company to turn to change-face and hop into the BYOD trend than merely providing authentication and protection of purchases done through the Internet, the report said.

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Nicel Jane Avellana

Staff Reporter at VCPOST.

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