Arlington, Va.-based ThreatConnect, the developers of a cloud and on-premise software suite to aggregate, collect and analyze threat intelligence data to make smart moves, have raised an impressive $16 million Series B funding round. The round was led by SAP National Security Services (SAP NS2), the defense-focused subsidiary of publicly traded cloud, IT, data analytics and enterprise applications firm SAP (NYSE: SAP). The influx of cash will be used, CEO Adam Vincent said, to expand business globally, for product development efforts and hiring purposes.
“Security operations [have] become a mission critical element of the enterprise in national security and commercial organizations alike. ThreatConnect is the leader in the marketplace and provides a true threat intelligence platform to address the unmet needs of those organizations. It’s difficult to imagine a better solution and partner to showcase the speed, scalability and power of HANA,” said Ron Police, COO of SAP NS2, in a statement.
Importantly, the new deal with SAP NS2 will also lead to ThreatConnect’s first ever joint product. The aforementioned SAP NS2 product named HANA by Police, will be used in combination with ThreatConnect’s recently launched TC Exchange and software development kit to build a new offering.