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- ThreatBook
ThreatBook Funding, Investors & Competitors
ThreatBook has raised $208M across 7 funding rounds, most recently a $47M Series E in March 2022.
Last ThreatBook funding round
$47M
Series E · Mar 2022
Cumulative funding ThreatBook raised
$208M
across 7 funding rounds
Key investors in ThreatBook
Hillhouse Investment
Northern Light Venture Capital
CDH Investments
CICC
CPE
CITIC Securities
V Fund Management
CrestValue
About ThreatBook
ThreatBook is a Beijing-headquartered cyber threat intelligence provider founded in 2015, specializing in detection and response for cloud, network, and endpoints. Recognized on the Cybersecurity 500, in Gartner's Market Guide four times, No.1 in Frost & Sullivan's 2022 China report, Forrester's 2023 landscape, and Gartner's 2023 NDR report, ThreatBook serves finance, energy, manufacturing, and internet sectors as China's first Amazon GuardDuty CTI provider.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
ThreatBook Funding History
ThreatBook has raised a total of $208M across 7 funding rounds.
ThreatBook's first fundraising round was a $2M angel round in September 2015. The most recent completed round was a $47M Series E in March 2022.
ThreatBook funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2022 | Series E | CDH Investments (lead); Hangzhou Xinglu | $47M | ThreatBook is a Beijing-based security threat intelligence company founded in 2015, focusing on threat detection and response technology. It applies core threat intelligence capabilities across product lines to serve enterprise customers including government organizations, energy firms, banks, securities, insurance, smart manufacturing, and internet companies such as State Grid Corporation of China, Xiaomi, JD.com, and CITIC Group, with nearly 1,000 large enterprise customers. The company operates under the credo of 'new threats and new security,' expanding from threat intelligence to a comprehensive technology stack. On March 28, 2022, ThreatBook completed an E+ funding round raising more than 300 million yuan (approximately $47.1 million), led by CDH Investments with participation from existing shareholder Star Road Ventures (also referred to as Hangzhou Xinglu). This follows a prior E round exceeding 800 million yuan. Total funding across rounds reached about $193.85 million by that point from 12 investors. Post-round, ThreatBook planned to invest further in product R&D, market development, and upgrading security operations for enterprise customers. CDH Investments' managing directors Frank Xie and Yang Fan highlighted ThreatBook as a leading Chinese network security firm with innovation-driven technology, expanding product lines and services amid rising digitalization and complex cyber threats. |
| Mar 2021 | Series E | CPE (lead); V Fund Management | $77M | ThreatBook is a cybersecurity company that has raised a total of $193.85M across 8 funding rounds, with investors including CPE, V FUND, Star Road Ventures, CDH Investments, and others. ThreatBook maintains 12 investors overall, with V FUND participating in Series D and Series E (2021). |
| Sep 2020 | Series D | CICC (lead); CITIC Securities (lead) | $44M | ThreatBook is a cybersecurity company that has raised a total of $193.85M across 8 funding rounds, with its latest being a Series E - II round of $47.12M on March 28, 2022. |
| Nov 2019 | Series C | Hillhouse Investment (lead); Star Road Ventures (lead) | $14M | ThreatBook raised a Series C round of about RMB 100 million, announced in November 2019, co-led by its existing shareholder Hillhouse Capital and the new shareholder Star Road Capital. The company said the round had been completed in July 2019 and that the proceeds would go to product development, sales and marketing, and brand building. ThreatBook is a Chinese threat intelligence and cybersecurity company founded in July 2015 by Xue Feng, who serves as chief executive. Its products include the Threat Detection Platform (TDP), an on-premises Threat Intelligence Platform (TIP) and the OneDNS secure DNS service. The company says its security cloud serves many major Chinese banks, securities firms and internet companies. Star Road Capital later took part in a further round in 2022. |
| Sep 2017 | Series B | Hillhouse Investment (lead) | $18M | Hillhouse Capital led a Series B round of RMB 120 million, about US$18.4 million, in ThreatBook in September 2017. Existing investors including Northern Light Venture Capital also continued to invest. ThreatBook is a Beijing-based cybersecurity company that provides threat intelligence to enterprises and governments, with products for threat detection, malware analysis and incident response. The company was founded in 2015. The funds were intended for product development and for building out its threat intelligence capabilities and artificial intelligence research. |
| Jun 2016 | Series A | CrestValue (lead); Northern Light Venture Capital; China Soft Capital | $5M | ThreatBook was founded in 2015 as a provider of cyber threat detection and response solutions. The company offers a threat intelligence analysis platform utilizing machine learning to process cyber threat data, with integrated full lifecycle threat detection and incident response capabilities across cloud, network, and endpoint environments. ThreatBook completed a Series A funding round on May 31, 2016, raising approximately $5.3 million. The company has achieved significant market recognition, including being featured in Gartner's Market Guide for Security Threat Intelligence Products and Services for four consecutive years as the only Chinese vendor, and ranking first in Frost & Sullivan's China Threat Intelligence Market Report for 2022. ThreatBook subsequently raised $18.4 million in Series B (September 2017) and $14.2 million in Series C (November 2019), demonstrating sustained investor confidence. |
| Sep 2015 | Angel | Northern Light Venture Capital (lead); Cloud Angel Fund | $2M | - |
Who has invested in ThreatBook?
12 investors have backed ThreatBook across its funding rounds, including Hillhouse Investment, Northern Light Venture Capital, CDH Investments, CICC, CPE and CITIC Securities.
Lead investors include CDH Investments, CPE, CICC, CITIC Securities, Hillhouse Investment and 3 other investors.
ThreatBook Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Sep 2015 | ||
| 2 | Lead | Sep 2017 | ||
| 1 | Lead | Mar 2021 | ||
| 1 | Participant | Sep 2015 | ||
| 1 | Lead | Sep 2020 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Lead | Nov 2019 | ||
| 1 | Participant | Jun 2016 | ||
| 1 | Lead | Jun 2016 | ||
| 1 | Lead | Sep 2020 | ||
This data is available for Pro users. Sign up to see all 12 ThreatBook investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInvestments by ThreatBook
ThreatBook has invested in 1 company to date.
Latest investment by ThreatBook was on October 23rd 2026. ThreatBook invested in ChainReactors in their $400K Seed round.
Latest Investments by ThreatBook
| Description | ChainReactors is a cybersecurity company based in Hangzhou, China, focused on AI-driven offensive security. Its main product, Cairn, is aimed at redefining penetration testing, and the company also builds products for threat management, attack simulation and vulnerability discovery. It publishes a set of open-source offensive tooling on GitHub written in Go, Rust and Python, including projects such as gogo, spray and Malefic. Its AI agent platform produces penetration test reports with verified findings and a documented reasoning chain, and the company reports having found more than 180 critical and 740 high-risk vulnerabilities in live environments. The company was founded in 2021. |
| HQ Country | |
| HQ City | Hangzhou |
| Deal Date | 23 Oct 2026 |
| Round | Seed |
| Raised | $400K |
| Investors | Jing'an Technology |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all ThreatBook investments and their VC round multiples. Start Free Trial | |
ThreatBook Competitors
ThreatBook competitors include listed companies like Palo Alto Networks, IBM, CrowdStrike and Cloudflare, and private ones like Safe Superintelligence and Cyera.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $11B | $1B | $257B | 21.0x | ||
| Publicly listed | $68B | $17B | $232B | 4.1x | ||
| Publicly listed | $4.8B | ($12M) | $222B | 38.0x | ||
| Publicly listed | $2.2B | ($25M) | $96B | 33.7x | ||
| Private | - | - | $32B | - | ||
| Private | $150M | - | $12B | 80.0x |
ThreatBook Public Comps
ThreatBook is still privately-owned, but its public comps include Palo Alto Networks, IBM, CrowdStrike, Cloudflare, Fortinet, Zscaler, Okta, Rubrik, Gen Digital and F5.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $11B | $1B | 22.3x | 21.0x | 252.0x | 63.6x | |||
| $68B | $17B | 4.3x | 4.1x | 17.3x | 14.5x | |||
| $4.8B | ($12M) | 45.3x | 38.0x | (17454.4x) | 127.1x | |||
| $2.2B | ($25M) | 44.2x | 33.7x | (3772.9x) | 140.3x | |||
| $6.8B | $2.3B | 12.2x | 10.4x | 36.2x | 26.8x | |||
| $3.4B | $42M | 9.1x | 8.7x | 722.5x | 31.7x | |||
| $2.9B | $245M | 9.3x | 8.6x | 111.2x | 31.6x | |||
| $1.3B | ($324M) | 16.2x | 13.3x | (65.8x) | 236.1x | |||
This data is available for Pro users. Sign up to see all ThreatBook competitors and their valuation data. Start Free Trial | ||||||||
Common questions about ThreatBook
| When was ThreatBook founded? | ThreatBook was founded in 2015. |
| Where is ThreatBook headquartered? | ThreatBook is headquartered in Beijing, China. |
| Is ThreatBook publicly listed? | No, ThreatBook is a private, VC-backed company. |
| How much funding has ThreatBook raised? | ThreatBook has raised $208M across 7 funding rounds. |
| What was ThreatBook's last funding round? | ThreatBook's last funding round was a $47M Series E in March 2022, led by CDH Investments. |
| Who are ThreatBook's investors? | ThreatBook's investors include Northern Light Venture Capital, Hillhouse Investment, CPE, Cloud Angel Fund, CICC, Hangzhou Xinglu, Star Road Ventures, China Soft Capital, CrestValue, CITIC Securities and 2 others. |
| Which companies are comparable to ThreatBook? | Companies comparable to ThreatBook include Palo Alto Networks, IBM, CrowdStrike, Cloudflare, Safe Superintelligence and Cyera. |
| How many companies has ThreatBook invested in? | ThreatBook has invested in 1 company, including ChainReactors. |
| What was ThreatBook's last investment? | In October 2026, ThreatBook invested in ChainReactors' $400K seed round alongside Jing'an Technology. |
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