DomainTools attracts strategic investment from Battery Ventures
DomainTools, a leader in the fields of Domain Name and DNS-based Predictive Threat Intelligence, today announced that Battery Ventures, a global technology-focused investment firm, has made a significant strategic investment in the company to accelerate growth initiatives. This investment will result in accelerated innovation of DomainTools' platform capabilities for machine learning-based threat intelligence and predictive risk assessment, as well as enhanced product development to automate threat intelligence and incident response workflows.
Threat intelligence continues to be one of the fastest growing segments of the cybersecurity market. Analysts estimate that the threat intelligence market size will grow from $5.5 billion in 2019 to $20.2 billion in 2027, according to Verified Market Research. The attack surface for enterprises has increased exponentially due to the shift to remote work, along with a dramatic increase in phishing and ransomware attacks amid COVID-19. Enterprises see the need for real-time predictive threat intelligence so they can proactively defend against emerging threats.
This is the first institutional investment in DomainTools' nearly 20-year history of organically transforming from a niche provider of domain name information to a cybersecurity leader in data analytics and threat intelligence in the Internet has developed. Today, over 500 enterprise customers and some of the world's largest companies trust DomainTools to provide the information they need to detect, investigate and prevent threats, improving their overall security posture. This includes 45 of the Fortune 100, 8 of the top 10 banks, numerous government agencies and all branches of the military.
"Battery Ventures brings DomainTools to a proven financial, operational and strategic partner with an outstanding track record of helping companies scale," said Tim Chen, CEO of DomainTools. "Their investment validates our data-driven approach and will accelerate our ability to innovate for our customers and fulfill our mission to make the Internet safer for everyone."
"DomainTools has consistently empowered its customers to transform threat intelligence into actionable threat intelligence they need to protect themselves in today's environment. We are also impressed with the number of strong customer relationships the company has cultivated over the years, " said Jordan Welu, Principal of Battery Ventures. "We look forward to working with DomainTools in its next phase of growth, including potentially new acquisitions."
As part of the investment, Welu and Dave Tabors, private equity partners at Battery, join DomainTools' board of directors. Andy Rothery, an executive-in-residence at Battery, becomes executive chairman.
