Sign In
Free Newsletter
Terbium receives $2M investment from eBay founder
Baltimore cybersecurity firm Terbium Labs will receive a $2 million investment from the founder of eBay as it looks to expand its dark web products.
Pierre Omidyar, who took eBay public in 1998, and his wife, Pam Omidyar, invested $2 million in Terbium to expand its Matchlight product and to grow its sales and marketing efforts.
“Data privacy has become a defining issue of our time, affecting individuals, governments and businesses,” Subhashish Bhadra, investment principal at Omidyar Network, said in a statement. “Responsible data practices can help businesses increase consumer trust, reduce regulatory risk, and create shareholder value. Terbium’s product enables that by detecting and remedying data breaches without ever receiving a corporation or individual’s sensitive information.”
Bhadra will join Terbium’s board of directors effective immediately.
Terbium’s top product is Matchlight, which uses automation to enable companies to search the dark web for their proprietary information without disclosing it. That allows companies to keep track of potentially sensitive information.
The dark web is an encrypted network accessible through certain tools like the Tor Browser. The dark web can be used for innocuous purposes, but its anonymity also makes it an attractive place on the internet for criminal activity.
Matchlight works using its “data fingerprinting” system. It creates a digital signature for data, allowing companies and other organizations to search for their data without revealing what the data is, even to Terbium.
“Data privacy is the cornerstone of our business, and we consider it a critical differentiator for our company as conversations around more responsible treatment of digital identity take hold,” Danny Rogers, Terbium’s co-founder and CEO, said in a statement. “By providing intelligence based on our exclusive one-way data fingerprinting technology, Matchlight enables organizations to monitor for risks associated with data exposure on the dark web without exposing them to an expanded vendor-related attack surface.”
More than 10,000 users have used Matchlight, including Mastercard, Thomson Reuters and the Royal Bank of Canada. The system has been used to monitor employee personal information, customer data, and sensitive intellectual property.
In addition to Bhadra, Terbium also announced that Rohyt Belani, CEO of Virginia cybersecurity firm Cofense, would be joining its board of directors.
“Subhashish’s deep experience in digital identity policy and Rohyt’s success in building early-stage information security companies will help enhance our product development and operations,” Roger said. “They will be a tremendous resource, and we welcome them to the team.”
Terbium has now raised more $19 million across various funding rounds. That includes a funding round in late 2017, when the firm raised $6 million from Boston venture capital firm Glasswing Ventures.
