Digital Shadows, a digital risk protection platform, has collected $10m in a strategic funding round led by National Australia Bank (NAB).
Previous backers of Digital Shadows, including Octopus Ventures, contributed to the round, boosting their shareholdings.
With the close of the round, the RegTech will boost global expansion and product development efforts. Its plan is to scale its SearchLight service from hundreds to thousands of customers, etc.
The company claims it will be able to offer 24×7 global coverage from security threats via an expanded Asia Pacific team.
Digital Shadows helps minimise digital risk by identifying unwanted exposure and protecting enterprises from external threats.
Its SearchLight solution is a managed service to protect a business from data loss, help protect their online brand and identify weak spots within their infrastructure.
Digital Shadows CEO, and co-founder Alastair Paterson said, “Demand for digital risk protection continues to flourish with significant growth in the Asia Pacific market. It’s clear that an investment from a regional specialist in NAB Ventures is exactly what is needed to drive further growth in this massive market and to expand the delivery of our SearchLight service to customers around the world.
“We’re very pleased that our existing investors feel the same and have joined us on this next stage of our journey.”
In line with the deal, NAB Ventures managing director Melissa Widner and NAB chief enterprise security officer David Fairman will join Digital Shadows’ board as observers.
Last year, Digital Shadows expanded its operations to Germany and Singapore, opening new offices in both of the countries.
Prior to this round, Digital Shadows closed a $26m Series C round in 2017 from investors including Octopus Ventures, World Innovation Lab, Industry Ventures, and others.
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