BALTIMORE and BOSTON, Nov. 29, 2017 (GLOBE NEWSWIRE) -- Terbium Labs, the premier dark web intelligence company, today announced it has raised $6 million in financing led by Glasswing Ventures, bringing the total raised to $15 million. Terbium Labs will use the new funding to extend its geographical footprint, bolster channel relationships with MSSP partners, and continue to innovate on Matchlight, the world’s most comprehensive and only fully private dark web data monitoring system.
Rick Grinnell, Founder and Managing Partner at Glasswing Ventures, best known for his investments in EqualLogic (acquired by Dell), Prelert (acquired by Elastic), and Resilient Systems (acquired by IBM), will join Terbium Labs' board of directors effective immediately. Glasswing Ventures brings a depth of market knowledge and expertise on transformative technologies to the relationship, investing in companies with Artificial Intelligence (AI) at its core. From new hacker forums to government takedowns of black markets, the dark web is evolving faster than human analysts can handle alone. Terbium Labs uses cutting-edge machine learning and AI algorithms to model the dark web, find new sites, and even predict where new illegal or risk content, such as stolen proprietary data, is likely to appear.
"Our fund is focused on startups that leverage AI technology to create new products and platforms that ensure that the data, users, and devices of the increasingly connected world are secure," said Rick Grinnell of Glasswing Ventures. "Terbium Labs checks both boxes by offering enterprises a truly unique approach to information security and fraud prevention powered by an AI-controlled dark web crawler. We are excited to have Danny and his team at Terbium Labs in our portfolio and are thrilled that they have selected Glasswing as their partner to help propel them to the next stage of growth."
Data theft costs the global economy more than $400 billion each year. As the only fully private, fully automated dark web intelligence system in existence, Matchlight is redefining how enterprises protect their most critical data and avoid data theft and loss. Traditional threat intelligence makes it hard to know whether data is real or fake. In contrast, Matchlight gives users an unprecedented ability to continuously monitor the dark web for their lost or stolen data, alerting when and where fingerprints of their actual data appear online. The patented data fingerprinting technology creates a one-way digital signature of any type of data, enabling organizations to automatically search for their sensitive information without revealing it to anyone – not even Terbium. The system works regardless of the type of breach and is complementary to an organization's existing information security systems.
Terbium Labs announced the general availability of Matchlight in September 2016. Its easy deployment options and affordable pricing makes Matchlight's data monitoring and automatic breach and fraud detection capabilities attractive to companies of all sizes. Nearly 7,000 users have deployed Matchlight to monitor employee personal information, customer information, sensitive intellectual property, and even source code.
"As the dark web expands, automation is key to keeping up where human analysts cannot," said Danny Rogers, Co-Founder and CEO of Terbium Labs. "Matchlight computes billions of data fingerprints every day and alerts customers within minutes when elements of their data appear somewhere they shouldn't. It shifts the balance of power from the adversary to the enterprise by providing the tools to rapidly identify fraud and data theft privately and affordably. With the new capital from Glasswing Ventures and their expertise, contacts, and resources in the AI security market, we will continue to build our robust dark web index and world-class leadership team and ensure any organization with critical data and confidential information is protected.”
About Terbium Labs
Terbium Labs is a premier dark web data intelligence company. As the maker of Matchlight, the world’s most comprehensive and only fully private dark web data monitoring system, Terbium gives organizations an unprecedented ability to continuously monitor the dark web and be alerted as soon as any of its sensitive data or keywords appear. Featuring a patented, privacy-protecting, data fingerprinting technology and sophisticated collection infrastructure, Matchlight has become a must-have data breach detection solution among risk management, security and privacy professionals. Learn more about Terbium Labs' automated, affordable and actionable approach to dark web intelligence by visiting terbiumlabs.com or follow us on Twitter @TerbiumLabs.
About Glasswing Ventures
Glasswing Ventures is an early-stage venture capital firm dedicated to investing in the next generation of AI-powered technology companies that connect consumers and enterprises and secure the ecosystem. For more information about Glasswing Ventures please visit: http://glasswing.vc
April H. Burghardt
SVP, Media and Industry Analyst Relations
PenVine for Glasswing Ventures