Cyber media company in Fulton raising $1.8 million to add staff & products

26 Jul 2018

Published in: Blog

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As we continue our working relationship with the State of Maryland, we like to keep you up to date with the exciting news and events happening over on the east coast.

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As we continue our working relationship with the State of Maryland, we like to keep you up to date with the exciting news and events happening over on the east coast.

A cyber-focused media company located in Fulton is looking to raise up to $1.8 million as it aims to grow its staff and product lines.

The CyberWire is raising money to support growth. According to documents recently filed with the U.S. Securities and Exchange Commission, the firm has raised nearly $900,000 toward its total goal from five investors. Participants in the round thus far include neighboring cyber startup studio DataTribe and Maryland Technology Development Corp.

Spun out of Baltimore's CyberPoint International in 2016, CyberWire has been publishing media content focused on the global cybersecurity industry since 2012. The company serves an audience of thousands in just about every country, delivering cyber news in various formats, including daily newsletters and podcasts.

"We help people sort out what’s important in the cybersecurity space," said CEO and executive editor Peter Kilpe. "People want to know what’s happening now, what might threaten their business, what they or their employees need to know. And that's what we deliver."

Kilpe said demand for CyberWire's services has been growing quickly over the past few years, and the company must expand to keep up. He declined to share specific growth or revenue numbers. The company has seven employees, and Kilpe said he will probably add another five over the coming year, across sales, marketing, editorial and production positions.

CyberWire is also planning to pilot new products, including new podcast concepts, which the new funding will also support. The company also builds and sells its own proprietary publishing tools, such as for media content management and advertising.

Kilpe said Maryland is an ideal market in which to grow his cyber-focused media business. The company has access to expert cyber engineering sources from local big-name industry players, as well as from federal intelligence groups. Maryland is home to more than 12,000 IT and cybersecurity companies, as well as organizations like the National Security Agency and U.S. Cyber Command.

"In cyber, it's so important to stay in tune and up to date with what’s going on, and being in this location has been invaluable to our own growth," he said. "I don’t know if we would’ve been as successful as we are without being where we are. The talent and networks here are really unparalleled."