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London startup lauded by Mayor secures $14m in Series B funding

Digital Shadows, the London-based cybersecurity startup which has been highlighted as a shining example of the capital’s burgeoning tech sector by the Mayor of London, has secured $14m (£9.6m) in its Series B funding round.

The funding round was led by US-based investment firm Trinity Ventures and follows the $8m (£5.5m) Series A funding round which closed in February.

The tech startup, which helps firms monitor their digital footprint through cyber situational awareness tools, was held up as a shining example of US investors turning to London’s tech expertise by Boris Johnson last year.

Speaking at an event in New York last February, Johnson said: “Digital Shadows is another fantastic example of why US investors are turning to London’s tech talent.

“My export programme is opening doors for forward thinking firms like Digital Shadows to explore trade opportunities in the United States and to expand their networks.

“I want to encourage even more of London’s companies to benefit from exporting to this dynamic market, building on the strong existing ties with the UK.”

With an office already established in San Francisco, this new round of funding will allow Digital Futures to further expand its reach across America.

Commenting on the firm’s growth potential, Fred Wang, general partner at Trinity Ventures, told Tech City News: “Given Trinity’s long and successful history investing in the cybersecurity market, we understand how cyber situational awareness has become critical for enterprises.

“Digital Shadows’ remarkable growth and the rapid adoption of its SearchLight offering by large enterprises has impressed us, as did its strong management team. Trinity’s investment will help Digital Shadows capitalize on the widespread demand for a solution that provides buyers with a ‘beyond the boundary’ view of their organizations.”

The Series B funding round also drew support from Storm Ventures, TenEleven Ventures, Passion Capital and Paladin Capital Group.