ZeroNorth, a risk management company, has closed its Series A funding round which was led by ClearSky Ventures.
Other commitments to the series funding came from firms including Crosslink Capital, Rally Ventures and previous ZeroNorth backer Petrillo Capital. In total, the RegTech company has raised $18.6m in venture funding.
Following the close of the round, the company will look to further the development of its software and infrastructure risk management by improving its R&D and investing into sales, marketing and services.
ZeroNorth offers software and infrastructure risk management by continuously monitoring for vulnerabilities. The platform enables businesses to construct and manage an automated and consistent software security program. This offers board-visibility into business risk, improved security, more cost-effective processes and continuous proof of compliance.
ClearSky Ventures managing director Peter Kuper said, “Today every organization is in the software business. Software and the infrastructure it runs on are critical assets and continuous deployment is essential – but not at the expense of security.
“ZeroNorth makes it possible for organizations to have both fast and secure production software – something that was considered incompatible before. Most importantly, ZeroNorth makes it possible for organizations to easily discover and remediate vulnerabilities without disrupting the software development process. Its orchestration platform will be critical to protecting this software-defined world and why we are so excited to be a supporter of this effort.”
In line with the investment round ClearSky Ventures, managing director Peter Kuper and operating partner Patrick Heim, and Rally Ventures venture partner Art Coviello will the ZeroNorth board of directors.
The RegTech has also named former Synopsys senior director and Codiscope co-founder John Steven as its new chief technology officer. In this role he will lead the ZeroNorth technical direction in defining and delivering solutions which will bolster security of clients.
ZeroNorth has also named Alan Deane as its new vice president of worldwide sales. Prior to this role, he served as the vice president of worldwide sales and field operations at Qumas.
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