Battery Ventures makes majority funding in Seattle enterprise safety startup DomainTools

DomainTools CEO Tim Chen on the GeekWire Awards 2017.

Longtime funding agency Battery Ventures introduced a majority funding in DomainTools, a Seattle startup that helps firms mitigate safety threats. Phrases of the deal weren’t disclosed.

DomainTools sells a bevy of merchandise together with a site and DNS risk intelligence platform; a site threat evaluation software; a phishing area discovery software; and an API service. The corporate says it has the preferred Whois analysis service. It has greater than 500 prospects together with almost half of the Fortune 500 and eight of the highest 10 banks.

Cybersecurity threats are on the rise amid the pandemic and other people shifting to distant work. SEC Chairman Jay Clayton instructed CNBC final month that cybersecurity dangers for each firms and shoppers are extra urgent than ever.

The risk intelligence market is expected to grow from $5.5 billion final yr to $20.2 billion in 2027.

DomainTools is led by Tim Chen, a longtime tech exec who joined in 2009. It employs greater than 100 folks.

The corporate didn’t elevate exterior capital till the Battery Ventures deal. It gained the Bootstrapper of the Yr award on the GeekWire Awards in 2017.

“The company has been quite successful using a bootstrapped model but we see an opportunity now to partner with a financial and operational partner with proven experience scaling companies to the next level,” Chen mentioned.

DomainTools initially launched in 2000 as Identify Intelligence. The founders bought the corporate in 2009 to a bunch of now-former shareholders. It pivoted in 2013 from a retail to an enterprise enterprise mannequin, specializing in community safety.

Jordan Welu and Dave Tabors of Battery Ventures will be a part of DomainTools’ board on account of the deal. Battery Ventures, which has each a enterprise and personal fairness arm, raised $2 billion for 2 new funds earlier this yr. The agency’s portfolio consists of firms similar to Sumo Logic, BlueJeans, Groupon, Niantic, and others. It backed Seattle-area firms together with Chef and Avalara.

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