# Bit Discovery

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/bit-discovery

- Industry: Software
- Headquarters: Santa Clara, US
- Website: www.bitdiscovery.com
- Total disclosed funding: $4M
- Latest round: Series B (Jun 25, 2021)
- Investors on record: 2

## About

Bit Discovery, Inc. provides cybersecurity solutions aimed at enhancing organizations’ security posture by effectively managing their attack surfaces through asset discovery and monitoring services.Founded in 2018 and headquartered in Santa Clara, US, Bit Discovery, Inc. specializes in cybersecurity. The company was acquired by Tenable, Inc. for USD 44.50 mn in April 2022, completing the transaction in June 2022. It has been involved in 3 investment deals, with the most recent deal taking place on April 26, 2022. The founder's specific history is not available.BitDiscovery specializes in a robust suite of cybersecurity solutions aimed at helping organizations manage their attack surfaces effectively. The company's core offerings include comprehensive asset discovery and monitoring services that enable clients to identify and secure their digital assets. By leveraging advanced technologies, BitDiscovery focuses on automating the process of asset inventory and vulnerability assessment, aiming to streamline security protocols for businesses in various sectors. Their solutions cater to a wide range of end-users, including IT security teams, compliance officers, and risk management professionals, ensuring that organizations can proactively address potential security threats. BitDiscovery's products are accessible in various geographical markets, with a notable presence in North America, Europe, and parts of Asia, serving a diverse clientele from small businesses to large enterprises.BitDiscovery generates revenue through subscription-based models, allowing clients to access their suite of cybersecurity services regularly. This transactional structure facilitates partnerships with organizations that require ongoing monitoring and discovery of their digital assets. Clients typically engage with BitDiscovery on a multi-tiered pricing structure that aligns with the volume of assets monitored and the level of service required, including potential enterprise solutions tailored to larger organizations. The company’s flagship products are integral to its revenue generation, attracting a broad range of customers who seek to enhance their cybersecurity posture. BitDiscovery's approach to pricing and service delivery supports sustained engagement with clients, fostering long-term relationships within the cybersecurity domain.Following the acquisition by Tenable, Inc., Bit Discovery, Inc. is focusing on expanding its product offerings and enhancing its market penetration. The company plans to develop new cybersecurity solutions aimed at addressing evolving threats and expects to launch these products in the upcoming year. Furthermore, Bit Discovery is targeting expansion into the Asian market by the end of 2023, utilizing the recent funding of USD 44.50 mn to support these initiatives. The acquisition has provided additional resources and strategic direction to drive growth in these areas.

## Funding rounds

- Series B, Jun 25, 2021, $4M — Aligned Partners, Mighty Capital

## Investors

- Aligned Partners (https://capitalatlas.ai/funds/aligned-partners) — Series B
- Mighty Capital (https://capitalatlas.ai/funds/mighty-capital) — Series B