Munich, 9. July 2019 – Digital Shadows (http://www.digitalshadows.com/), the leader in digital risk protection, today announced $10M in a strategic funding round. The round is led by the ventures arm of new investor and current customer, National Australia Bank (NAB). Existing investors, including Octopus Ventures, have made further contributions to boost their shareholding in the company.
Through focused investment in global expansion and product development, Digital Shadows plans to exponentially scale the delivery of its SearchLight service – from hundreds to thousands of customers. Digital Shadows will also provide 24×7 global coverage of security threats for the first time via an expanded Asia Pacific team. This sits alongside continued platform improvement to increase SearchLight”s market-leading (https://resources.digitalshadows.com/financial-services/digital-risk-protection-2018-forrester-new-wave) collection, enrichment, and mitigation capabilities.
Digital Shadows is also strengthening its board with the additions of Melissa Widner, Managing Director, NAB Ventures and David Fairman, Chief Enterprise Security Officer at NAB, who will join the Board as observers.
Melissa Widner, Managing Director, NAB Ventures, says: “We”re looking forward to working with Digital Shadows. It”s clear that our economy is becoming ever-more digitised, with information safety and security becoming paramount in the minds of consumers. As the platform and capabilities expand, we hope this relationship will help provide us with opportunities for future innovation.”
Alastair Paterson, CEO, and co-founder of Digital Shadows, comments: “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.”
David Fairman, Chief Enterprise Security Officer at NAB, adds: “As an existing customer of Digital Shadows, we have seen the value its service provides by delivering early foresight into a range of cybersecurity threats. Digital risk protection is an emerging security category and we have already seen the benefits of adding their capabilities to our security portfolio.”