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

ThreatBook Overview

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

ChinaBeijing

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

ThreatBook funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2022Series ECDH Investments (lead); Hangzhou Xinglu$47MThreatBook 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 2021Series ECPE (lead); V Fund Management$77MThreatBook 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 2020Series DCICC (lead); CITIC Securities (lead)$44MThreatBook 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 2019Series CHillhouse Investment (lead); Star Road Ventures (lead)$14MThreatBook raised $14.2 million in a funding round on November 19-20, 2019, from investors Hillhouse Investment and Star Road Ventures, labeled as Series D in one source and Series C in another. Star Road Ventures participated in this round and a later Series E - II in 2022.
Sep 2017Series BHillhouse Investment (lead)$18MThreatBook is a Beijing-based cybersecurity company specializing in threat intelligence platforms, offering services like malware analysis, threat hunting, and security operations centers powered by AI and big data. Founded in 2014, it targets enterprises and governments with products such as the ThreatBook Intelligence Center and CTI services to combat advanced persistent threats. In June 2017, ThreatBook raised approximately $18.3 million in a Series C funding round led by Hillhouse Investment, following prior rounds from investors like Qiming Venture Partners and Matrix Partners China. The funds were intended to expand product development, enhance global threat intelligence capabilities, and grow its team amid rising demand for cybersecurity solutions in China. ThreatBook operated in a competitive landscape with players like Qihoo 360, Knownsec, and international firms expanding into Asia.
Jun 2016Series ACrestValue (lead); Northern Light Venture Capital; China Soft Capital$5MThreatBook 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 2015AngelNorthern 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

Investors in ThreatBook by funding rounds participated
InvestorHQRoundsRoleFirst check
Northern Light Venture CapitalChinaBeijing2LeadSep 2015
Hillhouse InvestmentSingaporeSingapore2LeadSep 2017
CPEChinaBeijing1LeadMar 2021
Cloud Angel FundChinaBeijing1ParticipantSep 2015
CICCChinaBeijing1LeadSep 2020
Hangzhou XingluChinaHangzhou1ParticipantMar 2022
Star Road VenturesChinaHangzhou1LeadNov 2019
China Soft CapitalChinaBeijing1ParticipantJun 2016
CrestValueChinaHangzhou1LeadJun 2016
CITIC SecuritiesChinaShenzhen1LeadSep 2020

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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ThreatBook Competitors

ThreatBook competitors include listed companies like Palo Alto Networks, CrowdStrike, IBM and Fortinet, and private ones like Safe Superintelligence and Cyera.

Public and private companies comparable to ThreatBook
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Palo Alto NetworksUnited StatesUnited StatesPublicly listed$11B$1B$307B25.9x
CrowdStrikeUnited StatesUnited StatesPublicly listed$4.8B($12M)$252B44.5x
IBMUnited StatesUnited StatesPublicly listed$68B$17B$224B4.0x
FortinetUnited StatesUnited StatesPublicly listed$6.8B$2.3B$127B15.9x
Safe SuperintelligenceUnited StatesSan Francisco, CAPrivate--$32B-
CyeraUnited StatesNew York City, NYPrivate$150M-$12B80.0x

ThreatBook Public Comps

ThreatBook is still privately-owned, but its public comps include Palo Alto Networks, CrowdStrike, IBM, Fortinet, Cloudflare, Okta, Zscaler, F5, Rubrik and Gen Digital.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Palo Alto Networks$11B$1B26.7x25.9x301.1x76.9x
CrowdStrike$4.8B($12M)51.4x44.5x(19816.2x)151.0x
IBM$68B$17B4.2x4.0x16.9x14.6x
Fortinet$6.8B$2.3B18.1x15.9x53.7x41.9x
Cloudflare$2.2B($25M)54.6x44.3x(4653.4x)185.1x
Okta$2.9B$245M10.6x10.0x126.4x36.4x
Zscaler$3.4B$42M9.1x8.9x721.8x32.5x
F5$3.1B$901M7.5x6.9x25.8x18.3x

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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, CrowdStrike, IBM, Fortinet, Safe Superintelligence and Cyera.

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