SpyCloud, developer of a unique online fraud prevention platform, has secured $30 million in Series C funding to power future growth.

The company, based in Austin, Texas, specialises in account takeover prevention and fraud investigations tools. Its latest funding round was led by Centana Growth Partners, with participation from existing investors M12, Altos Ventures, Silverton Partners and March Capital Partners. The new investment means the company has raised a total of $58.5 million since its inception in 2016.

Centana Growth’s Partner Eric Byunn has joined SpyCloud’s board, said co-founder and CEO Ted Ross. Ross claimed cybercriminals are constantly working on new ways to collect and use stolen data to harm organizations and individuals. He added that the company now protects two billion people, with growth that has seen a tripling of revenue over the last year.

He said the new funding means SpyCloud can grow product, engineering and sales teams in its home market and abroad, and develop new product lines.

This event will feature detailed discussion of various cybercrime topics.