Tracebit has raised a $20M in Series A funding to expand its cloud-native deception technology, which deploys decoy assets across enterprise networks to detect threats early.
Tracebit, a cloud-native cybersecurity company that detects threats by planting decoy assets across enterprise networks, has raised $20 million in a Series A round led by FirstMark, with participation from Accel, MMC Ventures, Tapestry VC and CCL. The raise brings Tracebit’s total funding to $25 million, following a $5 million seed round led by Accel in 2024.
The company was founded in 2023 by Andy Smith, chief executive, and Sam Cox, chief technology officer, both formerly of email security company Tessian. Their approach is built around a technique known as deception technology, which deploys decoy assets, called canaries, throughout a company’s cloud infrastructure. When an attacker interacts with a canary, the system flags the activity immediately, enabling security teams to detect intrusions earlier and with greater precision than conventional monitoring approaches allow.
The platform currently monitors around five billion events each week, generates millions of canaries daily and supports thousands of customer accounts. Clients include Riot Games, Snyk, Synthesia, Docker and Admiral Insurance.
Tracebit has expanded its coverage beyond Amazon Web Services to include Microsoft Azure, Kubernetes, continuous integration and delivery pipelines, developer workstations and identity providers — reflecting the increasingly distributed nature of modern cloud infrastructure, where threats can enter through any number of entry points.
Alongside the funding announcement, the company is introducing several new products. Perimeter Canaries extends the deception concept to the edges of cloud and software-as-a-service environments, placing decoys where attackers typically first make contact rather than deeper within systems where intrusions may already be underway. The company is also launching Deceptive Artefacts and adding support for Google Cloud Platform.
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The perimeter approach is designed to address a specific evolution in the threat landscape: AI-driven attacks that can rapidly scan cloud environments for vulnerabilities, compressing the window between initial access and deeper infiltration.
The Series A funding will support the rollout of the new products, expansion of Tracebit’s customer base and growth of its go-to-market and engineering teams.
