NAB leads $10 million round in Digital Shadows

NAB leads $10 million round in Digital Shadows

Information security outfit Digital Shadows has scooped $10 million in a funding round led by NAB Ventures, the fintech investment arm of existing customer National Australia Bank.

The backing of NAB gives the US company a firm foothold in Asia Pacific as it expands its team to provide 24/7 coverage of emerging cyber threats in the region.

Alastair Paterson, CEO, and co-founder of Digital Shadows, comments: “It’s clear that an investment from a regional specialist in NAB Ventures is exactly what is needed to drive further growth in this massive market and to expand the delivery of our SearchLight service to customers around the world.”

SearchLight operates as a managed service, giving customers early insight into data loss exposures.

David Fairman, chief enterprise security officer at NAB, says: “As an existing customer of Digital Shadows, we have seen the value its service provides by delivering early foresight into a range of cybersecurity threats. Digital risk protection is an emerging security category and we have already seen the benefits of adding their capabilities to our security portfolio.”

Fairman will join NAB Ventures MD Melissa Widner as a board observer at Digital Shadows.

Says Widner: "It’s clear that our economy is becoming ever-more digitised, with information safety and security becoming paramount in the minds of consumers. As the platform and capabilities expand, we hope this relationship will help provide us with opportunities for future innovation.”

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