July 11, 2024 at 12:21PM
British startup Tracebit secures $5M seed-stage funding for cloud-based threat detection and deception tech. London-based company offers cloud-native threat deception technology to strengthen cybersecurity and expedite incident identification. Funding led by Accel, with support from Tapestry VC, 20SALES, and angel investors. Tracebit’s product uses canaries to enhance threat detection, plans to expand team and product offerings.
From the meeting notes, relevant takeaways include:
– Tracebit, a new British startup, secured $5 million in seed-stage financing for its cloud-based threat detection and deception technology.
– The funding was led by Accel, with additional support from Tapestry VC, 20SALES, and several angel investors.
– Tracebit’s product focuses on cloud-native threat deception technology to help organizations defend against cyberattacks and identify incidents faster.
– They plan to utilize the investment to expand their engineering team and enhance their product offering.
– The company’s infrastructure-as-code deployments allow enterprises to activate threat deception within minutes without additional hardware.
– The CEO, Andy Smith, emphasized the mission to accelerate the mass adoption of threat deception and reduce the mean time for detecting an intruder from months to minutes.
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