RedOwl, a US-based cybersecurity company backed by the US intelligence community’s investment affiliate In-Q-Tel, has been acquired by security software developer Forcepoint, according to Washington Technology.
Financial terms of the transaction have not been disclosed.
RedOwl has developed a set of tools that monitor user activity within a network. The platform identifies unusual behaviour by comparing a user’s actions to those of people doing similar jobs.
In-Q-Tel entered a strategic partnership with RedOwl in 2013, though the size of the investment was not disclosed.
The Veterans Opportunity Fund, managed by the Maryland state-owned Technology Development Corporation (Tedco), contributed to a $4.6m series A round in 2014 alongside Attractor Ventures, Propel Baltimore and assorted angel investors.
In 2015, Allegis Capital led a $17m series B round that also include Blackstone and private investors. The series B brought RedOwl’s total funding to $30m, according to a press release published at the time.