Terbium Labs, a Baltimore startup that scans the dark web for stolen information, has raised $6 million to expand its reach to businesses.
The financing was led by Glasswing Ventures, a Boston-based venture capital firm, and brings Terbium’s total funding to $15 million. The investment will allow Terbium to tap into what it sees as a growing global market for advanced cybersecurity services, as data breaches become increasingly common.
“Post-Equifax, there’s a lot of concern about this in the marketplace,” Danny Rogers, co-founder and CEO of Terbium Labs. “What’s changing now is more and more companies are realizing this is something they need.”
Using artificial intelligence, Terbium constantly searches for clients’ sensitive information on the dark web, a primary market for cyber criminals to sell stolen information. The company codes clients’ data in a way that allows Terbium to determine it has been compromised without accessing any of the data itself.
Large enterprises have long invested heavily to protect themselves against data breaches, but even so, often don’t find out about a breach until the data is long gone.