Dubai-based cybersecurity startup SpiderSilk raised $ 2.25 million in a pre-Series A round, led by venture capital firms Global Ventures and STV.
In the past two years, SpiderSilk has uncovered some of the biggest data breaches: Blind, the supposedly anonymous social network that exposed private complaints from Silicon Valley employees; lab disclosed highly sensitive Samsung source code; an inadvertent public code repository revealed building camera apps, code and images belonging to controversial facial recognition startup Clearview AI; and a massive dump of unencrypted customer card numbers to the now-defunct MoviePass may have been the final nail in the coffin of the already besieged subscription service.
Much of those findings were found from the company’s proprietary internet scanner, SpiderSilk co-founder and chief security officer Mossab Hussein told TechCrunch.
Any business would want their data locked down, but errors do occur and misconfigurations can leave sensitive internal business data accessible from the Internet. SpiderSilk helps clients understand their attack surface by looking for items that are exposed but shouldn’t be.
The cybersecurity startup uses its scanner to map a company’s assets and attack surfaces to detect vulnerabilities and data exposures, and it also simulates cyber attacks to help customers understand where vulnerabilities lie in their defenses.
“The attack surface management and threat detection platform we have built continuously scans the open Internet in order to assign all publicly available assets to organizations that may be affected by them, directly or indirectly, ”SpiderSilk co-founder and CEO Rami El Malak told TechCrunch. “As a result, the platform regularly uncovers feats and emphasizes that no organization is immune to infrastructure visibility blind spots.”
El Malak said the funding will help strengthen its security, engineering and data science teams, as well as its marketing and sales. He said the company is expanding its presence in North America with sales and engineering teams.
This is the company’s second round of funding, following a $ 500,000 seed round in November 2019, also led by Global Ventures and several angel investors.
“The SpiderSilk team is an exceptional partner, solving a critical problem in the ever-complex world of cybersecurity and protecting online businesses from the growing threats of malicious activity,” said Basil Moftah, general partner of Global Ventures.