NAB Ventures has invested US$10 million in Silicon Valley-based cyber security start-up Digital Shadows. Through this investment, the company has plans for global expansion with Asia Pacific and product development.
Digital Shadows plans to exponentially scale the delivery of its SearchLight service.
The company focuses on digital risk protection for companies. It identifies unwanted exposure, protects again external threats and minimises digital risk.
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 collection, enrichment, and mitigation capabilities.
Existing investors such as Octopus Ventures have also made further contributions to boost their shareholding in the company.
The cybersecurity company is expanding its board adding Melissa Widner, managing director of NAB Ventures and David Fairman, chief enterprise security officer at NAB who will join the board as observers.
Widner said, “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 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.”
David Fairman, chief enterprise security officer at NAB said, “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.”