Domain name and DNS-based predictive threat intelligence provider DomainTools has attracted significant strategic investment from that Battery Ventures – a global, technology-focused investment firm. The investment is aimed at accelerating growth initiatives.
This investment would drive more rapid innovation in DomainTool’ platform capabilities for machine learning-based threat analytics and predictive risk scoring. It would also enable enhanced product development around automating threat intelligence and incident response workflows.
Founded in 1983, Battery Ventures backs companies at all stages, ranging from seed and early to growth and buyout. It covers technology markets from six strategic locations including Boston; San Francisco and Menlo Park, Calif.; Herzliya, Israel; London; and New York. Battery is focused on investments in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology.
Strategic Investment Partner
It is the first institutional investment in DomainTools’ nearly 20-year history. Until now, the company has grown organically from a niche provider of domain name information to a leading cybersecurity player delivering Internet-scale data analytics and threat intelligence. Today, over 500 enterprise customers and some of the world’s largest organizations trust DomainTools to provide the intelligence they need to detect, investigate and prevent threats. This would include 45 of the Fortune 100, 8 of the top 10 banks, numerous government agencies and all branches of the military.
“Battery Ventures brings DomainTools a proven financial, operational, and strategic partner with an outstanding track record of helping companies scale,” said Tim Chen, CEO of DomainTools. “Their investment validates our data-driven approach and will accelerate our ability to innovate for our customers and deliver on our mission to make the internet safer for everyone.”
Threat intelligence continues to be one of the fastest growing segments of the cybersecurity market, says DomainTools. Analysts would estimate that the threat intelligence market size will grow from $5.5 billion in 2019 to $20.2 billion by 2027, according to Verified Market Research. The attack surface for organizations has increased exponentially due to the shift to remote work, along with a significant rise in phishing and ransomware attacks amid COVID-19. According to DomainTools, organizations see the need for real-time, predictive threat intelligence so they can proactively defend themselves against emerging threats.
“DomainTools has consistently empowered its customers to turn threat data into the actionable threat intelligence they need to protect themselves in today’s environment. We’re also impressed by the number of strong customer relationships the company has maintained throughout the years,” said Jordan Welu, Principal, Battery Ventures. “We’re excited to partner with DomainTools in its next phase of growth, including, potentially, new acquisitions.”
As part of the investment, Mr. Welu and Battery private equity partner, Dave Tabors, are joining DomainTools’ board. Andy Rothery, a Battery executive-in-residence, will become executive chairman of DomainTools.