SpecterOps, a provider of cybersecurity solutions, has closed an extension to its Series A, raising an additional $8.5M from Ballistic Ventures.
This brings SpecterOps’ total Series A funding to an impressive $33.5M. The company is known for its unique insights into advanced threat actor tradecraft, which have shaped its innovative cybersecurity solutions. SpecterOps’ flagship product, BloodHound Enterprise (BHE), is the industry’s first platform designed to comprehensively eliminate identity attack paths in Microsoft’s Active Directory (AD) and Azure AD.
The latest funding infusion will fuel the continued adoption of BloodHound Enterprise, allowing organizations to enhance their overall security posture by effectively mitigating identity-based threats. Moreover, the investment will support SpecterOps’ research and development initiatives, including the development and enhancement of BloodHound free and open source software (FOSS).
In April 2023, SpecterOps released the most recent version of BloodHound FOSS, which has gained widespread popularity among penetration testers and red teamers for identifying attack paths within on-premises Active Directory and Azure AD cloud environments.
As part of the deal, Ballistic Ventures Co-Founder and Strategic Partner Kevin Mandia, who is also the CEO and founder of Mandiant, will serve as an Observer on SpecterOps’ Board of Directors. Mandia expressed his confidence in SpecterOps’ ability to address critical security challenges and praised the company’s impact on users’ overall security posture. He stated, “SpecterOps is solving for a crucial security problem in a way that both works for defenders and can make dramatic improvements to users’ overall security posture. Ballistic looks forward to their continued success and impact.”
SpecterOps’ CEO, David McGuire, expressed excitement about partnering with Ballistic Ventures. He acknowledged the unmatched cybersecurity experience and knowledge of the investment firm and highlighted the support, resources, and mentorship that Ballistic Ventures will provide to help SpecterOps elevate its work to new heights.
McGuire stated, “This additional round reinforces a growing acceptance of the need for practical solutions to identity-based threats, especially as the industry moves toward Zero Trust and identity becomes a more critical part of digital infrastructure.”
In addition to the recent investment from Ballistic Ventures, SpecterOps previously secured $25M in funding in April 2023, led by Decibel. This earlier investment round attracted notable individual investors such as Jon Oberheide and Dug Song, the co-founders of Duo Security, further validating SpecterOps’ industry reputation and potential.
Copyright © 2023 RegTech Analyst
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