TRACEBIT has announced a $20 million Series A funding round, bringing its total raised to $25 million. The investment round was led by FirstMark, with additional support from Accel, MMC Ventures, Tapestry VC, and CCL. Founded in 2023 and based in London, UK, Tracebit has developed cloud-native threat deception technology that uses tailored canaries to detect threats across the entire environment.
The canaries are described as fake honeypots deployed by identity providers, on workstations, in AWS, Azure, Kubernetes, and CI/CD pipelines to attract attackers and help organisations prevent cyberattacks and respond to incidents faster. The startup expanded its portfolio with Perimeter Canaries for edge deployment and introduced Deceptive Artefacts and GCP Support, with plans to use the new funding to roll out these products, expand across the US, and grow its go-to-market and engineering teams.
Tracebit says its cloud-native technology aims to identify and prevent evolving threats in the AI era, adopting an “assume breach” mentality as the default security posture.