MENLO PARK — Blue Lava, creator of the first security program management platform built by and for chief information security officers (CISOs), has completed a total of $25 million in series A funding, with the latest $7.5 million investment on top of $17.5 million raised previously. The latest financing round, led by Crosslink Capital with contribution from existing majority investors Rally Ventures and ClearSky Security, allows Blue Lava to pave the way as an innovator in security program management.
Founded in 2018 and led by CEO David Walter, Blue Lava’s solutions are designed to help CISO’s measure, optimize, and communicate the business value of their cybersecurity program to the board and C-suite executives. The Blue Lava software platform combines on-demand maturity assessments, peer benchmarking and security strategy and roadmap planning to win budget approval for security investments and monitor progress towards a more mature security organization.
“We are pleased to support Blue Lava’s vision of helping their customers unlock the business value of cybersecurity,” said Matt Bigge, partner at Crosslink Capital. “Too often, security management is relegated to the tools corner in executive discussions, instead of being front and center as a strategic business enabler. Every security executive needs Blue Lava, and we see the potential for Blue Lava to be as mission critical to the CISO as Netsuite is to a CFO.”
According to recent IT industry surveys, cybersecurity spending continues to increase in 2021, driven by the need to secure digitization and remote workforce initiatives made critical during the pandemic. The addition of security tools, staff, and processes places additional demands on security leaders, and Blue Lava’s security program management tools are well suited to help CISO’s demonstrate business value and increased digital maturity to the organization.
“We at Blue Lava are committed to providing CISO’s with the ability to extract actionable insights and deliver a security maturity roadmap that maximizes business impact. This new funding will be used to expand our sales, marketing, and engineering teams, and accelerate growth of the Blue Lava customer community,” said David Walter, CEO of Blue Lava.