Reston-based cybersecurity firm raises $26.3 million
LookingGlass Cyber Solutions Inc., a Reston-based cybersecurity firm, has raised $26.3 million in debt and venture capital to expand its portfolio and build its international sales.
Eastward Capital and Triangle Peak Partners are new investors in the company, joining long-term investors Alsop Louie Partners, Neuberger Berman and New Spring Capital.
LookingGlass specializes in threat-detection monitoring and its clients include private companies and government agencies.
The LookingGlass platform takes a preemptive approach to protecting technology systems from hackers, CEO Chris Coleman told the Washington Business Journal in 2015. He described the strategy as “playing whack-a-mole” when intrusive activity is suspected. The broader idea is to predict what potential intruders might attempt and defend against those actions.
The company was established in Baltimore and later moved to Arlington County. It moved into a 20,000-square-foot office at 10740 Parkridge Blvd. in Reston in March. LookingGlass employs about 140 at its Reston location and it keeps offices in Baltimore, San Jose, California, and South Jordan, Utah. It counts 300 employees in total.
In a statement announcing the new funding, LookingGlass said it has started working with companies in Asia and the Middle East and its looking to grow clients in Europe.
The company’s revenue growth and near-term profitably were what attracted the new investors, the company said in its statement.
LookingGlass acquired fellow cyber threat detection company Cyveillance and cybersecurity company CloudShield in 2015. It also raised $70 million across two rounds of funding that year.