Baltimore-based Terbium Labs, a dark web intelligence firm, announced a $2 million investment that will help the company advance its web monitoring software.
The Omidyar Network, a philanthropic investment firm created by eBay founder Pierre Omidyar and his wife Pam Omidyar, invested $2 million in Terbium Labs, the company announced Monday. The funds will be used to continue developing Matchlight, Terbium’s fully private dark web data intelligence system, and to expand its sales and marketing efforts.
Matchlight helps companies minimize the risk of damaging data breaches by monitoring their exposure on the dark web and scanning for stolen information.
“Data privacy is the cornerstone of our business, and we consider it a critical differentiator for our company as conversations around more responsible treatment of digital identity take hold,” Terbium Labs co-founder and CEO Danny Rogers said in a statement. “We strive to set a new standard for information security and risk management that can help companies prevent damage, while still holding ourselves to the highest standard in terms of protecting the privacy of their information.”
Subhashish Bhadra, an investment principal of Omidyar Network, and Rohyt Belani, CEO of Cofense, will join Terbium’s board of directors, Terbium announced.
“Responsible data practices can help businesses increase consumer trust, reduce regulatory risk, and create shareholder value,” Bhadra said in a statement. “Terbium’s product enables that by detecting and remedying data breaches without ever receiving a corporation or individual's sensitive information.”
Terbium Labs was established in 2013. The latest investment brings the amount of funding Terbium has raised to $19 million, including investments from Glasswing Ventures and .406 Ventures.