SpyCloud Inc., a cybersecurity startup that counts half the Fortune 10 as customers, has raised $110 million in funding to finance new growth initiatives.

Austin-based SpyCloud announced the investment this morning. It said that the funding included a “commitment of primary and secondary capital.” That suggests the investment included a secondary raise, a deal through which investors buy shares in a startup from that startup’s employees or existing venture backers.

SpyCloud’s latest funding round was led by technology-focused private equity firm Riverwood Capital. Silverton Partners, a returning backer, contributed as well. In total, the startup has raised more than $168 million from investors to date.

The company provides a software platform that helps companies detect when their employees’ login credentials leak online. The platform can, for example, spot if employee passwords associated with an internal supply chain application surface on a dark web forum. It also detects other types of leaked login credentials.

Another task that the company promises to ease is the process of finding compromised cookies. In some cases, hackers can steal the cookies that a company’s applications install on employee devices and use them to log into those applications. This breach tactic is commonly known as session hijacking. 

SpyCloud’s platform is powered by what it describes as the industry’s largest repository of breach-related data assets. According to the company, its platform ingests more than 12 billion new pieces of data per month.

Besides notifying companies when they’re affected by a breach, SpyCloud can help them respond to the incident. Its platform includes a tool that allows administrators to reset employees’ passwords if their login credentials appear online. Furthermore, it makes it possible to delete any compromised cookies that may be installed on employees’ devices.

The company also provides a number of other cybersecurity features. Most notably, it says, its platform can determine when a worker’s device may be infected with malware. It says its algorithms are capable of finding malware on both company-issued machines and personal devices used for work.

SpyCloud says its platform can help companies secure the login credentials of not only employees but also customers. A software-as-a-service provider, for example, could use the platform to protect users of its application from account hijacking attempts. It says that its technology is used to protect more than 4 billion accounts worldwide.

“As authentication methods improve, businesses need to adjust their defenses to keep up with criminals’ new behavior,” said co-founder and Chief Executive Officer Ted Ross.

The startup will use the proceeds from its latest funding round to extend its platform. In particular, SpyCloud plans to add more integrations with third-party cybersecurity tools such as breach response tools. In parallel, it will grow its go-to-market team and international presence. 

Image: SpyCloud