UK-based cloud threat detection and deception platform Tracebit has successfully raised $5 million in a seed funding round led by Accel and Tapestry VC. The round also saw participation from angel investors including Guy Podjarny (founder of Snyk), Tim Sadler and Ed Bishop (Tessian Founders), Mandy Andress (CISO of Elastic), 20SALES and many more.
For over 30 years, cybersecurity experts have used ‘deception’ techniques like fake ‘honeypots’ or canaries to detect attacks. While highly effective, the high cost and complexity have restricted their use to the top security teams, making them impractical for modern cloud infrastructure.
Tracebit has been solving these problems, leveraging modern cloud practices to enable security teams to scale an ‘assume breach’ approach across their organization quickly and with minimal overhead.
Both the co-founders, Andy Smith and Sam Cox are very excited to deploy this investment towards the continued growth of our team and product. Speaking at the occasion, Andy said “We’ve already shared why we’re excited about this approach in our blog, as part of this announcement we wanted to share how our customers have experienced Tracebit.”
Chris Hymes, CISO at Riot Games said, Riot Games has leveraged Tracebit to rapidly scale deceptive coverage across our cloud and enterprise estate. The automated platform has enabled us to roll out rapidly and the precise nature of the detections produces low volume, high value alerts.