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SOCRadar announced a $25.2 million Series B on May 22, 2024. PeakSpan Capital led the round, and Oxx participated. The company said it would use the funding to expand in the United States and Europe, develop its platform and AI-enabled workflows, and grow its managed service provider and managed security service provider channels.
How much funding did SOCRadar raise?
SOCRadar announced that it raised $25.2 million in a Series B round on May 22, 2024. The figure refers to that specific 2024 financing announcement, not a current funding total. The company’s original release was titled “SOCRadar Secures $25.2M in Funding to Combat Multibillion-Dollar Cyber Security Threats.”
Who invested in SOCRadar’s Series B?
PeakSpan Capital led the Series B, and Oxx participated, according to SOCRadar’s announcement and Oxx’s account. Oxx said the round followed a $5 million Series A led by 212 in 2023. That earlier-round amount is Oxx’s retrospective account; the cited material does not include the original Series A announcement.
What did SOCRadar plan to do with the funding?
SOCRadar said the proceeds would support several growth and product priorities. These were plans announced in May 2024, not evidence that the company later completed them.
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- Expand in the US market and invest further in Europe.
- Invest in research and development and product innovation.
- Develop AI-enabled capabilities and workflows.
- Increase its presence in channels serving managed service providers (MSPs) and managed security service providers (MSSPs).
SOCRadar CEO Huzeyfe Onal described the company’s stated mission as “to provide proactive protection against external cyber threats for companies of all sizes,” in the funding release. This is the company’s description of its aim, not an independently measured outcome.
What is SOCRadar?
SOCRadar is a cybersecurity vendor whose announcement described its Extended Threat Intelligence (XTI) offering as a cloud-based software-as-a-service platform for organizations. The company said XTI combines several capabilities:
- Cyber threat intelligence
- External attack surface management
- Brand protection
- Dark web monitoring
- Supply-chain threat intelligence
This list reflects the vendor’s description in its 2024 announcement; it does not establish the platform’s current feature set.
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In its Series B release, SOCRadar reported more than 25,000 freemium customers across more than 150 countries, more than 600 active paid customers, and more than 350 channel partners. These are company-reported figures from May 2024, not current operating metrics or independently verified counts. PeakSpan Capital’s announcement repeated the company’s figures and is investor-side corroboration of the release, not independent validation.
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What the announcement does—and does not—establish
The announcement establishes the amount, investors, and intended uses of the Series B as reported in May 2024. It does not establish SOCRadar’s current customer or partner scale, whether it carried out each spending plan, or the terms of any current channel program. The cited sources also do not independently substantiate the cybersecurity loss and incident statistics mentioned in the company release, so those figures are not necessary to explain the financing.
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