Qadium, a San Francisco, CA-based automated global Internet intelligence company, raised $40m in Series B funding.
The round was led by IVP with participation from new investor TPG Growth and prior investors New Enterprise Associates (NEA), Founders Fund, Susa Ventures, and angels.
The company intends to use the funds to expand its sales and marketing efforts and to continue to grow its engineering and product teams.
Led by CEO Tim Junio and CTO Matt Kraning, Qadium indexes every device on the public Internet every hour, similar to how search companies crawl web pages. It uses these data to continually monitor the global Internet for large organizations’ true network boundary, surfacing comprehensive information about all of an organization’s Internet-facing risks. This includes risks not tracked by any other system or vendor, including shadow IT, misconfigurations in cloud hosting, unauthorized or unmonitored Internet of Things (IoT) equipment, regional offices and subsidiaries violating policy, lost devices due to M&A events, and more.
In its first year on the market, the company sold its SaaS product, Expander, to a wide range of Fortune 500 companies and government agencies. Its customer base now includes CVS, PayPal, Capital One, Allergan, and Fluor, among others in banking and other financial services, IT manufacturing, commercial real estate, software, healthcare, and more. Qadium is also deployed at multiple government agencies, including US Cyber Command, the premier cyber operations arm of the US military.