BlackCloak Announces $11 Million Series A Funding to Expand Digital Executive Protection Platform
BlackCloak, the cybersecurity industry’s first Digital Executive Protection platform for Executives and High-Profile Individuals, announced the company’s $11 Million Series A funding from lead investor TDF Ventures with participation from both TechOperators and DataTribe.
“This investment in BlackCloak highlights where the cybersecurity market is heading,” said Jim Pastoriza, Managing Partner, TDF Ventures. “Attackers are keenly focused on Board members, senior executives, and other key personnel in companies across every industry. They realize that if they can penetrate this inner circle through their personal accounts and devices, they can hit the jackpot in terms of a corporate breach, intellectual property, or other sensitive data.”
In 2020 BlackCloak published original research from hundreds of individuals on the State of Personal Cybersecurity. That research showed 40% of executives were already compromised on their devices or home networks. Furthermore, 70% had exposed passwords on the deep/dark web, and 87% had no security installed on their personal devices.
“It is a known issue that our online activities and devices have been at risk for some time, but what is new is the idea that personal digital lives can have a direct impact on the company,” said Dr. Chris Pierson, CEO & Founder, BlackCloak. “From unemployment fraud impacting entire executive teams to the exposure of corporate information through personal email, the risks and consequences are very real. BlackCloak is exclusively solving this issue.”
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“High-profile individuals often find themselves outside the umbrella of protection provided by their companies and are forced to rely on weak, consumer grade-products,” said Tom Noonan, General Partner, TechOperators. “BlackCloak gives security teams, and the executives they support, security and peace of mind.”
BlackCloak has been honored with multiple awards including being named a SC Media 2021 Trust Award Finalist and being awarded the 2021 Global InfoSec Award for Digital Executive Protection.
With this Series A raise, BlackCloak is expanding its proprietary technology offering in both the cybersecurity and privacy space, deepening its relationship with members, and expanding its team and sale operations.
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