SpyCloud Closes $30M in Series C Round of Financing

By CIO Applications| Friday, August 28, 2020

The company plans to utilize the funds to grow its product and engineering teams as well as build new ways to detect and prevent fraud.

FREMONT, CA: SpyCloud, an Austin, Texas-based anti-fraud platform powering account takeover prevention and fraud investigations solutions, raised a $30m Series C funding.

The round was led by Centana Growth Partners, with active participation from all existing investors: Altos Ventures, Silverton Partners, M12 (Microsoft’s venture fund), and March Capital Partners. In addition to the funding, Eric Byunn, partner at Centana Growth Partners, joined SpyCloud’s board.

The company plans to utilize the funds to grow its product and engineering teams as well as build new ways to detect and prevent fraud.

Led by Ted Ross, CEO and co-founder, SpyCloud is the leader in account takeover (ATO) prevention, protecting billions of employee and consumer accounts either directly or through product integrations. Its solutions – supported by a comprehensive and actionable repository of exposed assets – proactively defeat fraud attempts and damage the criminals’ ability to profit from stolen information.

“Criminals work together to steal information and find creative ways to monetize it. As a result, even the most careful and sophisticated organizations are vulnerable. SpyCloud will continue to pursue new and innovative ways to stay ahead of criminals and provide solutions that make the internet a safer place for individuals and businesses,” stated Ted Ross, SpyCloud CEO and co-founder.

“SpyCloud’s approach to fraud prevention is helping businesses protect themselves and their customers at a time when threats are more pervasive than we’ve ever seen. We heard from major financial institutions and a wide range of enterprises that SpyCloud’s solutions are critically important to their anti-fraud efforts. We’re proud to help them continue the fight and discover new ways to protect both companies and consumers from these evolving threats,” said Eric Byunn.