Wednesday, February 27, 2019

Microsoft's M12 Backs SpyCloud

M12, the venture capital arm of Microsoft, is the lead investor in SpyCloud, a startup which develops cybersecurity products used to prevent account takeovers, SpyCloud said this morning According to SpyCloud, it has has raised $21M more in a Series B funding round, the company announced this morning. The new funding was led by M12, the venture capital arm of Microsoft, and also included Altos Ventures, Silverton Partners, and March Capital Partners. SpyCloud has now raised $28.5M in total funding. According to the firm, it will use the new funding to grow its security research team, extend R&D and product development, expand sales and marketing, and also for international efforts, in addition to expanding its database of information on compromised assets. SpyCloud's services and products leverage a database of exposed credentials and personally identifiable information it has gathered from the "dark web" and other sources to help identify accounts which might have been compromised. Ted Ross is CEO and co-founder of SpyCloud, which is based in Austin, Texas. More information »