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Add one more to the growing tally of security funding deals in early 2017.
RiskSense, an Albuquerque, NM cyber-risk management company, announced this week that it had raised $14 million in a Series A round of financing.
"The funding raised by existing investors Paladin Capital Group, Sun Mountain Capital, EPIC Ventures, and CenturyLink and a new investor Jump Capital will enable RiskSense to expand sales and marketing, enter new markets such as cyber-security insurance, and broaden and accelerate product development," Dr. Srinivas Mukkamala, co-founder and CEO of RiskSense, told eSecurity Planet.
Spun off from the New Mexico Institute of Mining and Technology and acting as advisors to the U.S. Department of Defense and U.S. Intelligence Community, RiskSense uses artificial intelligence (AI) technologies, particularly machine learning, to help governments and enterprise organizations identify and prioritize risks to their networks and data.
"RiskSense is changing the way organizations detect and manage cyber risk," said Mukkamala. He described his company's automated platform as "the first next-generation cyber risk management solution that continuously reveals cyber risk exposure across a growing attack surface -- including the network, servers, endpoints, applications and databases," allowing organizations to keep pace with an ever-evolving security landscape.
Preventing Security Breaches with RiskSense's SaaS Security Platform
RiskSense's software-as-a-service (SaaS) offering analyzes security information from multiple sources and provides IT security teams with a roadmap, of sorts, to prevent potentially devastating security breaches.
"The platform extracts actionable intelligence from the massive volume of data generated by a patchwork of cyber security products, including vulnerability scanners, threat intelligence feeds, and other complex security systems," Mukkamala explained. It then enables security professionals to better focus their attention on the threats that matter.
"RiskSense automates the process of contextualization and prioritization of this data based on business criticality, which enables organizations to focus on closing cyber security gaps that pose the greatest risk to business operations," added Mukkamala. "The RiskSense platform enables enterprises and governments to minimize cyber risk and gain valuable situational awareness to keep cyber adversaries at bay."
So far, 2017 is gearing up to be a busy year for venture capitalist firms on the lookout for security vendors.
Last week, Fortscale, a User and Entity Behavior Analytics (UEBA) specialist, announced it had raised $7 million. To date, the company has raised $23 as it forges ahead in the white-hot UEBA market. On Feb. 7, fellow UEBA vendor Exabeam announced it had raised $30 million.