SnapAttack Secures $8M Series A Funding - Threat Intelligence Startup

SnapAttack Secures $8 Million in Series A Funding

SnapAttack, a newly independent threat hunting company originating from IT consultancy Booz Allen Hamilton, has successfully raised $8 million in Series A funding this week.

The company positions itself as possessing the “largest library of labeled threat data globally.” It was initially developed within Booz Allen’s DarkLabs, a specialized group comprised of researchers, threat hunters, analysts, and data scientists dedicated to preempting cyberattacks.

Core Functionality and Approach

SnapAttack functions as a cloud-delivered software platform, integrating practical threat intelligence with hacker detection capabilities. The startup emphasizes a unique approach by combining both offensive and defensive cybersecurity techniques within a unified workflow.

This integrated system fosters collaboration within the security community, focusing on threat intelligence sharing, attack simulation, and behavioral analysis. Organizations can leverage this to proactively pinpoint vulnerabilities, risks, and weaknesses in their systems before they are exploited.

Leadership Perspective

“SnapAttack is uniquely positioned to facilitate enhanced collaboration among ethical hackers, threat hunters, and security researchers, delivering crucial insights to neutralize attackers,” stated Fred Frey, CTO and a founding member of the SnapAttack team.

He further explained that, unlike many competitors who concentrate on a single workflow stage – often from either an offensive or defensive viewpoint – SnapAttack offers a platform to synthesize both perspectives.

Investment Details

Volition Capital, a growth equity firm, spearheaded the Series A funding round. Strategic Cyber Ventures (SCV) and Booz Allen Hamilton also participated, with the latter maintaining a “significant” minority ownership stake in the newly independent entity.

The investment coincided with SnapAttack’s recent spinout from Booz Allen Hamilton, a process that had been underway for several months, according to a report by TechCrunch.

The company emphasized the importance of a smooth transition, ensuring both the establishment of the new corporate structure and securing sufficient funding to support ongoing operations.

Future Plans

SnapAttack intends to utilize the new capital to accelerate platform development. This includes deeper integration with existing security operations, comprehensive management of the detection analytics lifecycle, and improved reporting features.

The company also plans to expand its workforce – currently at 15 employees – aiming to double its team size within the next year. Growth will also focus on expanding its customer base within both the federal and commercial sectors.

Here's a summary of key objectives: