Maryland-based CyberTech Foretrace bags $500,000


Maryland-based CyberTech Foretrace has received $500,000 in seed funding from TEDCO, an investor focused on technology companies in Maryland.

Foretrace is an external attack surface management platform that provides footprinting and information gathering to protect companies from cyberattacks.

By integrating known attacker techniques, Foretrace gives clients a clearer image of what information illicit players can find.

Foretrace CEO Nick Ascoli said, “Successful cyber-attacks start with external reconnaissance, and adversaries know how to find exposed information and vulnerabilities that can be used to target an organisation.

“Foretrace leverages the same techniques and tools used by attackers and red teams to proactively alert our clients to vulnerabilities, information exposure, and external gaps. These findings are then used to inform businesses where they’re vulnerable, allowing them to act and keep their information secure.”

TEDCO, which tapped its Seed Funds for the deal, typically invests into early-stage, technology and life sciences companies.

Speaking on the deal, TEDCO CIO Jack Miner added, “Cost-effective solutions like those that Foretrace offers may be instrumental in preventing the leak of important business information. It’s exciting to be a part of Foretrace’s journey, helping them get their innovative business more exposure while, helping them to help others.”

Another Maryland-based FinTech to recently raise funds was Curbio. The startup, which offers a pay-at-closing home improvement product for real estate agents, raised $25m in a credit facility.

In other CyberTech news, Guardz recently raised $10m to support its launch out of stealth. It provides real-time cybersecurity protection and insurance for small companies. It helps guard cloud applications, web browsing, devices, emails and compromised data.  

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