Posted on Jun 23, 2016
“We see SecurityScorecard as a transformational solution that addresses the cybersecurity pandemic” - Karim Faris, General Partner of GV.
We are excited to announce that we have raised $20 Million in Series B Funding. The round was led by GV (formerly Google Ventures), includes a new investor in Two Sigma Ventures, and existing investors Sequoia Capital, Evolution Equity Partners, and Boldstart Ventures.
A security rating is a compilation of critical data points accurately depicting the overall cybersecurity posture of an organization. Security ratings change and evolve over time based on data points indicating how strong an organization’s security practice is. Critical security layers that must be factored into a security rating to ensure accuracy are:
A true Security Rating must account for all listed factors to accurately measure a company’s security posture.
Referred to as the Google of Cybersecurity, our rating platform continuously monitors the security posture of over 100,000 companies and users can instantly add any company by providing a domain name or URL. The platform can automatically detect vendors an organization is doing business with and immediately begin monitoring their overall rating. Custom alerts can be set for rating changes or vulnerabilities that may arise based on user defined thresholds.
Investors recognized our continued commitment to offer the most accurate rating of security risk, provide actionable insight on critical security data points not available in any other security rating service, and allow collaboration and communication through our platform between vendors. The security rating platform is powered by the award-winning Threatmarket™ data engine that surveys the entire internet and identifies over 30 million vulnerabilities, malware signals, and many other high-risk signals daily. ThreatMarket sees weaknesses from the outside - in, the same way a hacker would.
“What makes us different is the depth and breadth of our data combined with collaborative technologies,” said Aleksander Yampolskiy. “Our platform is unique because it looks at over 500% more data points and over 300% more critical security categories than other rating services."
To help drive our vision, we would like to welcome Karim Faris and Tom Mendoza to our Board of Directors. Karim Faris is General Partner at GV, and Tom Mendoza is a well-known public speaker and Vice Chairman at Netapp, representing Sequoia Capital for SecurityScorecard. Both have vast experience building and scaling high growth organizations.
Our Series B funding will drive the continued advancement of security ratings and continuous risk monitoring to enable our mission to transform third party risk management, cyber insurance underwriting, private equity due diligence and board level reporting.
Check out our list of 3 top third party risk management (TPRM) challenges, and the actions you can take to bolster your program. Learn more.
Performing cybersecurity risk assessments is a key part of any organization’s information security management program. Read our guide.
Templates and vendor evaluations are needed to level that playing field, in a time efficient and fair way, so that the best vendors are chosen.
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