Intelligence agencies from the CIA to the National Security Agency have huge quantities of data to parse through, and picking up on abnormalities amid all of it isn’t easy. In-Q-Tel, the investment firm aimed at helping the U.S. intelligence community, apparently wants to do something about that. It has entered into a strategic partnership with RedOwl Analytics and has also invested in the company, according to a statement from RedOwl.
RedOwl didn’t say how much money it’s picking up through the deal, which is typical for deals In-Q-Tel gets involved in. The company previously picked up $100,000 through the InvestMaryland Challenge, and it has raised a seed round of funding from private investors.
RedOwl, founded in 2011 and based in Baltimore, boasts of founders with extensive experience working with intelligence agencies. At one point co-founder and CEO Guy Filippelli was special assistant to the director of the NSA, and before starting RedOwl he co-founded Berico Technologies, which provides data analysis and visualization tools for government use. Renny McPherson, another co-founder and the vice president of strategy and business development at RedOwl, was a Marine Corps intelligence officer.
The company has developed a system named Reveal for identifying unusual behaviors within phone calls, emails and other forms of information in near-real-time. The application can run on premises or in clouds, McPherson said. It can be used to spot employees who increase a company’s risk by not meeting regulatory requirements or show when employees start referring to certain people more frequently in emails. A New York hedge fund is an initial pilot client, using the software to ensure compliance with regulations from the the U.S. Securities and Exchange Commission, McPherson said.