Respond Software, which builds robotic decision automation software for security operations, has closed its Series B on $20m.
The capital injection was led by ClearSky Security, a fellow online security prevention, detection and mitigation company. As part of the deal, ClearSky Security managing director Jay Leek will join Respond Software’s board of directors.
Previous investors of Respond Software CRV and Foundation Capital also committed funds to the Series B round.
With this new batch of funding, the RegTech will be looking to accelerate its go-to-market operations and bolster the customer success teams around the world.
Respond Software provides organisations with cyber-crime protection solutions, combining human judgement with intelligent algorithms.
The company’s flagship product is the Respond Analyst which increases the capabilities of security teams giving them real-time robotic decision making. The platform can evaluate all security alerts with consistency, accuracy and scale and ensure localised context of an organisation.
This capital injection has come after a year of significant growth for Respond Software, culminating in a six-times year-over-year growth and ‘significant employee expansion in security research, engineering, and marketing.
ClearSky Security managing director Jay Leek said, “The lack of skilled security analysts, coupled with the exponential growth of security-related data, has enterprises in crisis mode and increasingly recognizing that the status quo won’t cut it.
“Respond Software’s RDA software for security operations is the missing link in today’s automation portfolio, as it performs like a virtual team of expert analysts ‘in a box,’ allowing companies to immediately expand their security operations cost-efficiently.”
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