Recorded Future has successfully raised $58.6 million over six funding rounds, achieving a valuation of over $500 million. The company specializes in cybersecurity, leveraging machine learning to provide real-time threat intelligence.
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, founded by Andy Palmer and Christopher Ahlberg, is headquartered in Somerville. The company specializes in providing real-time threat intelligence to help organizations prevent cyber attacks.
Using patented machine learning technology, Recorded Future collects and analyzes data from various sources to deliver actionable insights. This enables security teams to lower risks and respond to threats more effectively.
With a workforce of 201-500 employees, Recorded Future continues to expand its operations and innovate in the cybersecurity space.
How Much Funding Has Recorded Future Raised?
- Series A (First Round)
- Amount Raised: $2,200,000
- Date: July 2009
- Lead Investors: GV, In-Q-Tel
- Motivation Behind the Round: To develop initial technology and scale operations.
- Series A (Second Round)
- Amount Raised: $677,500
- Date: January 2010
- Lead Investors: GV, In-Q-Tel
- Motivation Behind the Round: To further enhance the platform and expand the team.
- Series B
- Amount Raised: $6,700,000
- Date: June 2010
- Lead Investors: Accomplice, GV, In-Q-Tel
- Motivation Behind the Round: To accelerate product development and market reach.
- Series C
- Amount Raised: $12,000,000
- Date: May 2012
- Lead Investors: Balderton, GV
- Motivation Behind the Round: To expand customer base and enhance predictive analytics technology.
- Series D
- Amount Raised: $12,000,000
- Date: April 2015
- Lead Investors: Reed Elsevier Ventures
- Motivation Behind the Round: To drive expansion and meet growing market demand for threat intelligence.
- Series E
- Amount Raised: $25,000,000
- Date: October 2017
- Lead Investors: Insight Partners
- Motivation Behind the Round: To scale operations and further develop the threat intelligence platform.
Recorded Future has raised a total of $58,577,500 in funding, with a current valuation of $500 million.
Key Investors
- Google Ventures (GV)
- Details: Google Ventures is the venture capital investment arm of Alphabet Inc., established in 2009. It focuses on funding innovative startups across various sectors.
- Investment Focus Areas: Consumer, Enterprise, Life Sciences, Frontier Tech
- Notable Investments: Uber, Nest, Slack
- In-Q-Tel
- Details: In-Q-Tel is the strategic investment arm of the CIA, investing in technologies that support the mission of the U.S. intelligence community. It was founded in 1999.
- Investment Focus Areas: Security, Data Analytics, Artificial Intelligence
- Notable Investments: Palantir, Keyhole (acquired by Google), FireEye
- Balderton Capital
- Details: Balderton Capital is a London-based venture capital firm that invests in early-stage, technology-driven companies. Bernard Liautaud, a partner at Balderton, joined Recorded Future's board.
- Investment Focus Areas: Fintech, Healthtech, Consumer Internet
- Notable Investments: Revolut, Citymapper, The Hut Group
- IA Ventures
- Details: IA Ventures is a venture capital firm focused on investing in companies that deal with big data and analytics. It was founded in 2010.
- Investment Focus Areas: Big Data, Analytics, Fintech
- Notable Investments: Datadog, The Trade Desk, DigitalOcean
- Atlas Venture
- Details: Atlas Venture is a venture capital firm that invests in early-stage technology and life sciences companies. It has a strong focus on innovation and disruptive technologies.
- Investment Focus Areas: Technology, Life Sciences, SaaS
- Notable Investments: Acetylon Pharmaceuticals, PillPack (acquired by Amazon), MongoDB
What's Next for Recorded Future?
Recorded Future stands at the cusp of significant growth opportunities, driven by the increasing demand for real-time threat intelligence. The company’s platform is already protecting some of the world's top organizations, and with the recent $12 million Series D funding, it is poised to expand its reach even further. The adoption of their platform by leading financial institutions, technology companies, and government agencies underscores the vast potential for growth.
Future fundraising seems promising, given the strong backing from investors like Reed Elsevier Ventures and MassMutual Ventures. As the market for threat intelligence continues to grow, Recorded Future may seek additional funding to scale operations and enhance its technology. However, the company will need to navigate challenges such as maintaining differentiation in a competitive market and continuously innovating to stay ahead of emerging cyber threats.
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