BlackCloak pulls in $11m in its Series A funding round

BlackCloak, a cybersecurity platform to protect executives and high-profile individuals, has netted $11m in its Series A round.

The investment was led by TDF Ventures, with commitments also coming from TechOperators and DataTribe.

Funds from the round will help BlackCloak deepen its technology offering in the cybersecurity and privacy space, through deeper relationships with members. The company also plans to grow its team and sales operations.

Executives are major targets of hackers. A recent study by BlackCloak found that 40% of executives already had compromised devices or home networks. Worryingly, 85& of those in the survey had no security installed on personal devices and 70% had exposed passwords.

BlackCloak protects corporate executives and high-individuals from cybersecurity, privacy, financial and other reputational risks. Its services are also used by Fortune 500 companies and protects their intellectual property, data, reputation and finances.

The technology assesses the dark web to find exposed passwords and conducts home penetration tests to find weaknesses within a system.

BlackCloak CEO and founder Chris Pierson said, “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.

“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.”

As part of the investment said TDF Ventures managing partner Jim Pastoriza will join the BlackCloak board of directors.

BlackCloak previously raised $1.9m in 2020 from DataTribe.

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