Tracebit raises $20m in a Series A round led by FirstMark to expand its cloud security platform
FirstMark led the Series A investment, which will fund US expansion and product development.
Tracebit provides cloud-native deception technology designed to help organisations detect security breaches quickly.
London-based cybersecurity startup Tracebit has secured $20m in a Series A funding round led by FirstMark. The round included participation from Accel, alongside existing backers MMC Ventures, Tapestry VC, and CCL.
The company will direct the capital towards scaling its engineering and go-to-market teams, launching new security offerings, and supporting international expansion. As part of this push into the United States, Tracebit is opening its first office in New York.
Founded in 2023, the firm builds cloud-native deception tools that automatically deploy canaries across modern technology stacks. The platform monitors billions of events weekly for major enterprises, helping security teams identify potential threats at an early stage.
From the founder
"Deception Technology is now a cornerstone of cybersecurity, thanks to the growing importance of adopting an 'assume breach' mentality for all cloud-based businesses. We’re proud to be the most advanced threat detection platform on the market – helping major enterprises to make ‘assume breach’ a reality. This Series A funding has already helped us reach major milestones, including the launch of Perimeter Canaries, Deceptive Artefacts, and GCP support, as well as the opening of our first US office. We’re excited to build more products, grow our teams in London and New York, and help even more businesses strengthen their security posture."
Andy Smith
CEO at Tracebit
Investor perspective
"AI is rapidly shifting the economics and scale of cyber attacks. Exploits are being generated, tested, and deployed at machine speed, while AI agents in and outside enterprises are creating new, unpredictable paths to critical systems. In this new reality, the question is fast becoming how quickly you detect and contain threats. Tracebit is building the cloud-native deception and detection layer for the AI era, giving security teams the highest signal proof of compromise. We believe “assume breach” will become the default posture for modern enterprises, and Tracebit is leading that shift."
David Waltcher
Partner, FirstMark
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Accelerate go-to-market
- 04Continue product development
