The Dubai-based startup, Spiderilk, raised $ 2.25 million in the pre-Series A round, led by venture companies Global Ventures and STV.
In the last two years SpiderSilk has uncovered some of the biggest data breaches: Blind, the seemingly anonymous social network that has uncovered private complaints from Silicon Valley employees; Lab leaked Samsung’s highly sensitive source code; An inadvertent public code repository has uncovered apps, code and cameras and apartment building cameras belonging to a controversial startup Clearview AI; And a massive spill of unencrypted customer card numbers in MoviePass now discontinued may have been the last nail in the coffers of a subscription service that was already under siege.
Many of the findings were found in the company’s proprietary Internet scanner, SpiderSilk’s co-founder and chief security officer, Musab Hussein, told TechCrunch.
Every company will want to lock their data, but errors occur and incorrect configurations can leave sensitive internal organizational data accessible from the Internet. SpiderSilk helps its customers understand their attack surface by searching for things that are exposed but should not be.
The cyber security activation uses its scanner to map company assets and attack surfaces to detect vulnerabilities and data exposures, and it also simulates cyber attacks to help customers understand where the vulnerabilities in their defenses are.
“The attack and threat management platform we have built scans the open Internet continuously in order to attribute all publicly accessible assets back to organizations that may be affected by them, directly or indirectly,” SpiderSilk founder and CEO Remy Al-Malak told TechCrunch. “The platform regularly exposes survivors and emphasizes how no organization is immune to blind spots in infrastructure vision.”
Al-Malek said the funding would help build its security, engineering and data science teams, as well as its marketing and sales. He said the company is expanding its presence to North America with sales and engineering teams.
This is the company’s second round of funding, following a $ 500,000 round of funding in November 2019, which was also led by Global Ventures and several Angel investors.
“The SpiderSilk team is an outstanding partner, solving a critical problem in the ever-complex security world, and protecting online companies from the growing threats of malicious activity,” said Basil Mufti, Global Ventures’ partner.