New York-based SecurityScorecard, a security ratings startup, has closed its Series B round on $50m.
The round was led by California-based private equity firm Riverwood Capital and brings SecurityScorcard’s total equity raised to $110m. Previous backers of the cybersecurity startup also returned to the round, including Evolution Equity, Intel Capital, Two Sigma, AXA Ventures, Accomplice, and others.
Funds from the round are earmarked for expanding its product suite and platform as well as support its global expansion efforts.
SecurityScorecard can instantly identify vulnerabilities, active exploits, and advanced threats to help a business better protect their online operations. The API is used by financial services, insurance firms, and technology companies for vendor risk management, self-assessment, threat reconnaissance, cyber insurance, and compliance.
To asses a business, the startup collects, analyses and attributes millions of critical data points to give a holistic view of their running.
The company has witnessed strong growth over the past year, including the doubling of its revenue for the fourth year in a row. Other milestones recently achieved by the company include 1,000 enterprise customers, expansion into numerous places in EMA and APCA, and increased partner integrations.
SecurityScorecard co-founder and CEO Aleksandr Yampolskiy said, “Trust and transparency are must-haves to be the industry standard for measuring security risk today. SecurityScorecard is the only security ratings provider with complete transparency and visibility into the ratings methodology.
“With transparency, unique data insights, and unmatched scoring speed and coverage, we enable any company in the world to instantly claim their scorecard, act to improve their cybersecurity posture, and invite others to do the same. The future is bright, and we look forward to spreading SecurityScorecard as the blueprint to a safer world.”
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