According to the Baltimore Business Journal, the new funding is a second seed round for Terbium, which previously raised $1.6 million in seed funding. Investors were not named.

Terbium's approach to cyber security assumes that even with high-tech firewalls and expensive cyber security systems, critical data will get stolen. Instead, the company focuses on tracking down stolen data within minutes of it hitting the dark web, or Internet's black market, where it is sold to other cyber criminals. The company's Matchlight program uses encryption technology to create a 'fingerprint' or unique identifier for a company's confidential information and constantly scans the dark web for matches to this encoded data.

Matchlight launched in June after several months of beta testing. Terbium's latest financing will go toward growing sales of the program. The company is going after enterprise clients in sectors such as health care and finance, where large companies have frequently been targeted by hackers.

The company is led by founders CEO Danny Rogers and Chief Technology Officer Michael Moore. Both are veterans of Johns Hopkins University's Applied Physics Lab who sought a way to use their experience developing cyber solutions for government agencies to help commercial businesses better protect themselves.