Cybersecurity risk-monitoring platform SecurityScorecard has raised $50 million in a sequence D spherical of funding led by Riverwood Capital, with participation from Intel Capital, Evolution Fairness, Two Sigma, Axa Ventures, and Confederate, amongst others.
The corporate didn’t affirm whether or not earlier buyers — together with Alphabet’s GV and Sequoia Capital — participated on this spherical.
Based out of New York in 2013, SecurityScorecard helps organizations monitor dangers round their cloud-based safety by figuring out attainable vulnerabilities from a hacker’s perspective, overlaying areas corresponding to community, endpoints, DNS well being, and IP repute. Moreover, the platform analyzes the third-party distributors that firms work with to search out weaknesses that might compromise SecurityScorecard’s shoppers’ personal safety.
Armed with all this information, SecurityScorecard assigns a ranking to assist safety officers inside an organization handle probably the most pressing vulnerabilities and consider their partnerships — the platform exhibits a file of particular points which have impacted scores over time.
SecurityScorecard had beforehand raised round $62 million, together with sequence B and C rounds in 2016 and 2017 (which GV invested in). With one other $50 million within the financial institution, it’s getting down to speed up its international enlargement and meet the “spiking demand” for its safety ranking platform.
“SecurityScorecard is the one safety ranking vendor that gives full transparency and visibility into the scores methodology and efficiency of its award-winning platform,” mentioned firm CEO Aleksandr Yampolskiy. “Incorporating belief and transparency into the SecurityScorecard platform is a obligatory requirement to be an business customary for measuring safety danger throughout all industries.”
The worldwide cybersecurity market is anticipated to develop from $152 billion in 2018 to $250 billion by 2023, and the safety risk-rating side particularly has drawn some notable investments over the previous 12 months alone. Cambridge, Massachusetts-based BitSight raised $60 million, taking its complete funding to $150 million, whereas Salt Lake Metropolis-based RiskRecon secured $25 million in a spherical led by Accel.
SecurityScorecard claims its valuation doubled at its newest funding spherical and that final 12 months its income additionally doubled for the fourth consecutive 12 months — although it declined to offer any figures for both metric.
“SecurityScorecard’s progress over a brief time frame is a powerful trajectory as the corporate leads the safety ranking market,” added Joe De Pinho, vp of Riverwood Capital, who now joins SecurityScorecard’s board. “By 2022, cybersecurity scores will develop into as essential as credit score scores when assessing the chance of enterprise relationships.”
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