Digital Shadows announces $26m series C round

Level39 high-growth member, Digital Shadows, the cybersecurity firm which names itself as one of our very first members, has announced a new funding round of $26m (£192.m) led by Octopus Ventures, World Innovation Lab and Industry Ventures.

“This funding event is a huge milestone for Digital Shadows so we can expand our lead to offer the best digital risk management service in the industry,” said co-founder and chief executive Alastair Paterson.”

As part of our #Cyber39 cohort, Digital Shadows’ platform has become a market leader in searching the darkest corners of the web looking for threats and chatter against specific organisations.

The company, which started with a handful of desks at Level39, now employs more than 120 globally and is still based at Level39’s High Growth Space: 42.

The funds will be used to expand into new countries and improve its flagship product, SearchLight, which monitors over 100m data sources in 30 languages.

“Digital Shadows has shown phenomenal growth across all verticals
and geographies with a world-class range of partners and
clients,” said Octopus Ventures investor Will Gibbs in a
statement. “We are very excited about what the team have shown
themselves capable of and for the wider opportunity, as we see a
wide range of clients now increasing digital risk as a key


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