Cyber intelligence startup 4iQ has bagged $30m in its Series C round and named its new CEO to support its growth plans.
The investment was led by ForgePoint Capital and Benhamou Global Ventures, with additional support coming from C5 Capital, Adara Ventures and TheVentureCity.
In tandem with the fund close, 4iQ has named Kailash Ambwani, the former CEO of data cataloguing solution Waterline Data, as its new CEO. Ambwani will help 4iQ to increase its go-to-market strategies and bolster the innovation of the product.
Founded in 2016, 4iQ is a cyber intelligence platform that empowers intel analysts, security researchers and criminal investigators to uncover and disrupt illicit activities. Its IDLake solution holds more than 45 billion identity records from various open sources, including deep and dark web locations, to power its capabilities.
The IDTheft tool offers real-time alerts of stolen, leaked or lost credentials and personally identifiable information to power privacy protection, fraud prevention and identity verification.
Its IDHunt service empowers investigators to analyse monikers and pseudonyms, enrich information with other datasets and identify illicit players to air fraud and cybercrime investigations.
Ambwani said, “4iQ is at the forefront of understanding modern digital risk and I’m elated to lead the company toward its vision to help every company operationalize that understanding, stop fraud and crime, and make people safer.
“It’s no longer enough to keep your own house in order. Exposed credentials continue to proliferate in underground communities, especially in the wake of COVID-19, and so, now more than ever, we must empower investigators to uncover the real identities behind criminal activities and thwart future attacks.”
4iQ previously raised $18m in 2018 from C5 Capital.
ForgePoint Capital was recently identified as the most active cybersecurity investor in 2020, having deployed over $100m to companies.
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