SpecterOps builds adversary-focused cybersecurity products and services that help organizations detect and remove Identity-based Attack Paths, centered on its BloodHound open-source project and BloodHound Enterprise (BHE) managed SaaS. BHE, launched in 2021, provides attack path prioritization, remediation guidance and reporting for Active Directory, Entra ID and hybrid environments. The company emphasizes research and community contributions—BloodHound has been downloaded more than 1.5 million times and SpecterOps has produced 90+ open-source security tools and trained over 7,000 students. In 2024 SpecterOps reported ARR growth of 100% year-over-year and grew new customer acquisition over 60% YoY in Q4 to nearly 200 BHE customers. Recent milestones include FedRAMP High Authorization for BHE in December 2024 and CREST accreditation for penetration testing in January 2025, along with launching a channel partner program and additions to its board. SpecterOps builds adversary-focused cybersecurity solutions, centered on BloodHound Enterprise (BHE), a platform for removing identity attack paths in Active Directory and Azure AD. The company also maintains BloodHound free and open-source software, with the most recent FOSS release in April 2023. The additional funding will accelerate adoption of BHE and expand research and development initiatives across SpecterOps, including continued work on BloodHound FOSS. BloodHound Enterprise launched in 2021 and experienced rapid customer adoption in 2022, with product revenue growth and new customer acquisition increasing by more than 600%. BHE is used worldwide by organizations such as Capital Group, the University of Texas at Austin and Woodside Energy. The company emphasizes deep knowledge of adversary tradecraft to help clients detect and defend against sophisticated attackers. SpecterOps builds adversary-focused cybersecurity products and services centered on identifying and eliminating identity attack paths in Microsoft Active Directory and Azure AD. Its flagship product, BloodHound Enterprise (launched in 2021), evolved from the widely used BloodHound open-source tool. The company reported rapid customer adoption in 2022, with product revenue growth and new customer acquisition increasing by more than 600%. BloodHound Enterprise is used by organizations including Capital Group, the University of Texas at Austin, and Woodside Energy. SpecterOps also offers services and training, having trained over 6,900 students, assisted more than 185 customers with adversary simulation and detection assessments, contributed 400+ security community contributions, and released 93 open-source security tools. The company plans to expand R&D, product features, consulting and training teams, and open-source development with new funding.

Total raised

$109M

Funding rounds

3

Latest round

Series B

Latest activity

Mar 2025