Tracebit, a cloud-native cybersecurity platform that detects threats anywhere in a system, has raised £15 million in a Series A led by FirstMark, with participation from Accel. MMC Ventures, Tapestry VC and CCL also participated in the investment. The funding will support expansion across the United States, the rollout of new security products and the opening of its first US office in New York.
Deception technology places decoy assets within systems to bait cyberattackers into revealing their location, detect compromised accounts and prevent lateral threat movement. As cloud systems became larger and more dynamic, scaling canaries manually became difficult. Enterprises are increasingly adopting an “assume breach” mindset that prioritises early and unambiguous threat detection, particularly as attack surfaces expand and AI-driven threats increase.
Founded in 2023 by former Tessian employees Andy Smith and Sam Cox, Tracebit provides cloud-native deception technology that allows enterprises to deploy canaries across entire cloud systems. The platform supports multi-cloud environments including AWS, Azure and Google Cloud Platform, and also allows canary deployment in Kubernetes, CI/CD pipelines, developer workstations and identity providers.
Following its £4 million seed round in 2024 led by Accel, Tracebit has grown from 7 to 20 employees and opened its first global office in New York. The platform now covers thousands of accounts, monitors 5 billion events weekly and creates millions of canaries every day for customers including Riot Games, Snyk, Synthesia, Docker and Admiral Insurance.
Alongside the Series A, Tracebit has introduced new products including Perimeter Canaries, Deceptive Artefacts and support for Google Cloud Platform. Perimeter Canaries allow canaries to be placed at the edge of SaaS and cloud systems, creating an additional line of defence and enabling faster detection of threats.
Deception Technology is now a cornerstone of cybersecurity, thanks to the growing importance of adopting an ‘assume breach’ mentality for all cloud-based businesses. We’re proud to be the most advanced threat detection platform on the market - helping major enterprises to make ‘assume breach’ a reality. This Series A funding has helped us reach major milestones already, including the launch of Perimeter Canaries, Deceptive Artefacts and GCP support, alongside the opening of our first US office. We’re excited to build more products, grow our teams in London and New York, and help even more businesses strengthen their security posture.
AI is rapidly shifting the economics and scale of cyber attacks. Exploits are being generated, tested, and deployed at machine speed, while AI agents in and outside enterprises are creating new, unpredictable paths to critical systems. In this new reality, the question is fast becoming how quickly you detect and contain threats. Tracebit is building the cloud-native deception and detection layer for the AI era, giving security teams the highest signal proof of compromise. We believe “assume breach” will become the default posture for modern enterprises, and Tracebit is leading that shift.
Tracebit’s traction with cloud-native companies is remarkable, and the company is already challenging cloud security incumbents and setting itself apart as a category leader in threat deception. Andy and Sam’s security engineering pedigree, along with their clear vision for how vital Tracebit’s technology would be for enterprises of all sizes, prompted us to lead their seed round. Now, with AI making the threat landscape even more complex, we’re excited to back the Tracebit team again as they continue on their growth path.
