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Total amount raised
$79M
Latest funding date
2022-03-01
Location
Recorded Future has successfully raised funds through seven distinct funding rounds, with notable investors including Insight Partners and Employee Stock Option Fund. The company has also made strategic investments and acquisitions, further solidifying its position in the cybersecurity industry.
Keep reading to explore the intricacies of Recorded Future's fundraising journey and the investors backing this innovative platform.
What Is Recorded Future?
Recorded Future, based in Somerville, Massachusetts, is a prominent player in the cyber threat intelligence industry. The company specializes in providing advanced threat intelligence solutions to help organizations proactively manage cybersecurity risks.
With a workforce of 501-1000 employees, Recorded Future has established itself as a leader in analytics, cybersecurity, intelligent systems, and real-time data. The company was acquired by Mastercard in 2024 for $2.65 billion and continues to support various teams, including Cyber Threat Intelligence, Security Leadership, and Security Operations.
How Much Funding Has Recorded Future Raised?
- Series A
- Amount Raised: USD 2,200,000
- Date: July 2009
- Lead Investors: In-Q-Tel, Google Ventures (GV) (co-investors; no single lead disclosed)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and develop initial threat intelligence solutions.
- Series B
- Amount Raised: USD 6,700,000
- Date: June 2010
- Lead Investors: GV (Google Ventures), Accomplice VC, In-Q-Tel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance data analytics capabilities.
- Series C
- Amount Raised: USD 12,000,000
- Date: May 24, 2012
- Lead Investors: Balderton Capital, Google Ventures (GV)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve threat intelligence technology. Participating investors included Atlas Venture, IA Ventures, and In-Q-Tel.
- Series D
- Amount Raised: USD 12,000,000
- Date: April 16, 2015
- Lead Investors: Reed Elsevier Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach. Participating investors included MassMutual Ventures, Google Ventures, In-Q-Tel, Atlas Venture, IA Ventures, and Balderton Capital.
- Secondary Market
- Date: September 2017
- Lead Investors: Employee Stock Option Fund (ESO Fund)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees. Amount not publicly disclosed.
- Series E
- Amount Raised: USD 25,000,000
- Date: October 31, 2017
- Lead Investors: Insight Partners (Insight Venture Partners)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand threat intelligence capabilities, support company growth, and extend geographical reach.
- Series Unknown
- Amount Raised: USD 21,058,969
- Date: March 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance cybersecurity solutions and support ongoing innovation.
Total Amount Raised: At least USD 78,958,969 based on disclosed funding rounds. Current Valuation: Not publicly disclosed (Recorded Future was acquired by Mastercard in December 2024 for $2.65 billion).
Key Investors
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in growth-stage technology, software, and internet businesses. Founded in 1995, the firm has raised over $90 billion and invested in hundreds of companies worldwide. Insight Partners led the Series E round and later acquired Recorded Future for $780 million in 2019.
- Investment Focus Areas: Technology, software, internet businesses.
- Notable Investments: Twitter, Shopify, DocuSign.
- Employee Stock Option Fund (ESO Fund)
- Details: ESO Fund specializes in providing liquidity solutions for employees of private companies by purchasing their stock options. The fund aims to help employees unlock the value of their stock options without waiting for an IPO or acquisition.
- Investment Focus Areas: Liquidity solutions for employees of private companies.
- Notable Investments: Primarily involved in purchasing stock options from employees of private companies.
- Reed Elsevier Ventures (REV)
- Details: Reed Elsevier Ventures is the corporate venture capital arm of RELX Group (formerly Reed Elsevier), focusing on investments in innovative technology companies. REV led the Series D round in Recorded Future in 2015.
- Investment Focus Areas: Technology, innovation, data analytics.
- Notable Investments: Not publicly disclosed.
- Balderton Capital
- Details: Balderton Capital is a London-based venture capital firm that invests in early-stage technology companies. Balderton led the Series C round in Recorded Future in 2012 and participated in the Series D round.
- Investment Focus Areas: Early-stage technology, startups, global leaders.
- Notable Investments: Revolut, Citymapper, GoCardless.
- Google Ventures (GV)
- Details: Google Ventures, also known as GV, is the venture capital arm of Alphabet Inc. GV invested in Recorded Future across multiple rounds including Series A, B, C, D, and E. The firm invests in a wide range of industries, including technology, life sciences, and consumer products.
- Investment Focus Areas: Technology, life sciences, consumer products.
- Notable Investments: Uber, Slack, Nest.
What's Next for Recorded Future?
Recorded Future stands at the cusp of significant growth, driven by the expanding threat intelligence market projected to reach $1.8 billion by 2021. The company aims to leverage this opportunity by enhancing its machine learning capabilities and expanding its geographical footprint. These advancements will enable Recorded Future to address a broader range of cybersecurity challenges, positioning it as a leader in the industry.
Future fundraising opportunities appear promising, given the market's growth and the company's ambitious expansion plans. However, challenges such as staying ahead of evolving cyber threats and maintaining rapid growth while ensuring product quality and customer satisfaction remain. Despite these hurdles, Recorded Future's commitment to innovation and customer success sets a strong foundation for continued success.
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