One week after being named a Gartner Cool Vendor in Identity Access Management and Fraud Detection, SpyCloud is back in the cybersecurity headlines. The company has forged a partnership with DotForce, a leading value-added distributor for information security solutions in Southern Europe, to help businesses and government agencies in the region fight account takeover (ATO) attacks.
“SpyCloud has the most complete set of breach data assets in the world, making them the best partner to join our fight against account takeovers,” DotForce CEO Zane Ryan said. “These attacks can hit any organization at any time, and they are extremely expensive and time-consuming to resolve. With SpyCloud as our partner, we will be able to help organizations minimize the damage caused by ATO.”
Via the partnership, DotForce will enable its channel partners and managed security service providers (MSSP) to bring SpyCloud’s ATO prevention solutions to their customers. A Finovate Best of Show winner in its FinovateFall debut in 2017, SpyCloud specializes in detection and remediation of compromised accounts, helps identify and monitor supply chain exposure, and accelerates the fraud investigation process. The firm leverages human intelligence, data cleansing, and password cracking techniques to find exposed credentials faster, and has recovered more than 109 billion breach assets since inception.
“Account takeovers happen everywhere – criminals go where the money and data are, regardless of country,” Director of Sales, EMEA at SpyCloud Neill Cooper said. “We’re honored to partner with DotForce to help businesses in Southern Europe get proactive about protecting themselves.” In its statement, SpyCloud added that the cyberattacks and security breaches that are made possible by cybercriminals accessing stolen credentials cost businesses more than $17 billion a year and can continue for years.
SpyCloud’s partnership news comes just months after the company announced a $30 million Series C round that took its total funding to $58.5 million. Headquartered in Austin, Texas, SpyCloud counts Centana Growth Partners, Altos Ventures, March Capital Partners, Silverton Partners, and M12, Microsoft’s venture capital entity, among its investors.