Why we doubled down on 4iQ: the Adara Ventures view on the $18m Series B

Alberto Gómez, Managing Partner, Adara Ventures

4iQ, a pioneer in identity attribution analysis and a leading provider of intelligence for the largest identity theft protection vendors, announced last week that it closed $18 million in Series B funding, led by C5 Capital and with participation by Forgepoint Capital, Adara Ventures, and Benhamou Global Ventures (BGV). The new investment will be used to accelerate product innovation and customer acquisition. Additionally, André Pienaar, Managing Partner of C5 Capital, and Anik Bose, General Partner of BGV, will join the 4iQ Board of Directors.

“André Pienaar brings a depth of experience in Cyber Intel and Anik Bose is an active investor with a strategic and practical perspective on company building,” said Julio Casal, CTO of 4iQ. “They will accelerate our mission to empower investigators with capabilities to discover, uncover, and disrupt adversaries.”

The 4iQ IDLake™ is an archive of more than 14 billion identity records collected from open sources on the deep and dark web.

The funding will be used to expand 4iQ’s IDHunt and IDTheft business lines, powered by the 4iQ IDLake™ — cloud based infrastructure architected for security, privacy and GDPR compliance.

4iQ IDHunt helps analysts in Fraud Investigation Units, Anti-Money Laundering and Financial Crime Intel Units, and advanced Security Operations Centers leverage the 4iQ IDLake™ and Open Source Intelligence (OSINT) to discover, analyze, and uncover adversaries.

4iQ IDTheft provides real-time alerts of stolen, leaked, or lost credentials and personal information to individuals via 4iQ partners — Identity Theft Protection service providers, Security vendors, and large enterprises.

The Adara view: doubling down on best in class cyber technology

We backed 4iQ at the seed stage four years ago and we are delighted to support Julio Casal and the team again in this Series B round.

4iQ has built a best-in-class technology suite and their investigation tools are defining a new category in cybersecurity. Moreover, their impressive list of top tier accounts serves to highlight the value being delivered to national security agencies, governments and enterprises. We are delighted to continue partnering with such a great team and such a distinguished group of investors, like Forgepoint, C5 Capital, and BGV.

4iQ addresses several critical security issues surrounding identity, which together represent a huge global market opportunity. Whether it is “identity theft” of personal or enterprise identity data, or “identity intelligence & attribution” of cyber criminals in the dark web, 4iQ is combining its unique data, analytics and expertise to provide security teams with the solutions they need to combat the ever-more sophisticated area of identity cybercrime.

We at Adara see 4iQ as the perfect combination of visionary management, unparalleled technology and boundless market opportunity. We look forward to helping them achieve this next stage of their growth journey.

Following the acquisition of AlienVault by AT&T during the summer of 2018, in Spain’s largest tech exit to date, we continue to back the most advanced cybersecurity companies in Europe, with threat-hunting leader CounterCraft and web application security innovator Hdiv Security (a Gartner cool vendor), joining 4iQ in the firm’s portfolio in recent years.

About the Author

Alberto is co-founder and Managing Partner of Adara Ventures, an early-stage venture capital firm managing over €180 million in capital, and dedicated to investments in deep-tech companies addressing enterprise (B2B) markets. His investments include: AlienVault, Stratio, 4iQ, ADD Semiconductor, Playgiga, and Openbravo. He is most active in the sectors of big data, analytics, cybersecurity, and cloud services/infrastructure, and enterprise software in general (SaaS or on premise).

We invest in boldly ambitious businesses, partnering with founders with vision, courage and the capacity to execute.

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