Tracebit Secures $5M in Funding for Cloud Threat Detection
Tracebit, a London, UK-based provider of a cloud threat detection and deception platform, recently announced that it has secured $5M in Seed funding. The funding round was led by Accel, with participation from Tapestry VC and several prominent angel investors, including Guy Podjarny, Tim Sadler, Ed Bishop, Mandy Andress, and 20SALES. With this injection of capital, the company plans to grow its engineering team and enhance its product offering to better serve its customers.
Co-Founded by Andy Smith (CEO) and Sam Cox (CTO), Tracebit offers a unique threat deception platform that operates entirely in the cloud.
By deploying cloud-native APIs that create decoy canaries throughout enterprise cloud networks, the platform is able to attract and identify threats at an early stage, significantly reducing the time it takes to detect them from months to just minutes. This innovative approach has proven highly effective, with the platform currently safeguarding over 250 cloud accounts and monitoring 1,500 cloud canary resources, while processing a staggering 2.4 billion security events per week.
The flexibility and scalability of Tracebit's platform have been key factors in its success, as it allows enterprises to quickly implement and activate threat deception across their cloud networks in as little as 30 minutes, without the need for additional hardware. This ease of use, combined with its powerful threat detection capabilities, has made Tracebit a trusted partner for organizations seeking to bolster their cybersecurity defenses in an increasingly complex digital landscape.
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