Balbix Secures $70 Million

<header class&equals;"container release-header">&NewLine;<div class&equals;"custom-container">&NewLine;<div class&equals;"row">&NewLine;<div class&equals;"col-sm-12 col-xs-12">&NewLine;<hr &sol;>&NewLine;<&sol;div>&NewLine;<&sol;div>&NewLine;<&sol;div>&NewLine;<&sol;header>&NewLine;<section class&equals;"release-body container ">&NewLine;<div class&equals;"row">&NewLine;<div class&equals;"col-sm-10 col-sm-offset-1">&NewLine;<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">SAN JOSE<&sol;span><&sol;span><&sol;strong> &&num;8212&semi; <u>Balbix<&sol;u>&comma; a provide of cybersecurity posture automation&comma; has raised <u><span class&equals;"xn-money">&dollar;70 million<&sol;span> in Series C funding<&sol;u>&period; The oversubscribed round was led by Redline Capital who were joined by new investors&comma; Third Point Ventures&comma; Nautilus Venture Partners&comma; Modern Venture Partners and <span class&equals;"xn-person">Franklin Park<&sol;span>&comma; as well as existing investors Mayfield&comma; JC2 Ventures&comma; Mubadala Capital&comma; Alter Venture Partners and Singtel Innov8&period;<&sol;p>&NewLine;<div class&equals;"col-sm-10 col-sm-offset-1">&NewLine;<p>The funds will be used to build out Balbix&&num;8217&semi;s go-to-market capabilities and continued engineering investments to address market needs across unified asset inventory&comma; software bill of materials &lpar;SBOM&rpar;&comma; vulnerability management&comma; cyber risk quantification and security posture automation&period;<&sol;p>&NewLine;<p>The Balbix Security Cloud uses AI and automation to reinvent how the world&&num;8217&semi;s leading organizations reduce their cyber risk&period; With Balbix&comma; security teams can accurately inventory their cloud and on-prem assets&comma; conduct risk-based vulnerability management&comma; and quantify their cyber risk in monetary terms&period;<&sol;p>&NewLine;<&sol;div>&NewLine;<div class&equals;"col-sm-10 col-sm-offset-1">&NewLine;<p>&&num;8220&semi;Organizations of all sizes need real-time cyber risk visibility which is crucial for coordinating and driving timely risk mitigation actions&comma;&&num;8221&semi; said <span class&equals;"xn-person">Nicolas Giuli<&sol;span>&comma; Partner at Redline Capital&period; &&num;8220&semi;With its differentiated AI-powered approach to cybersecurity posture automation and excellent reference customer deployments&comma; Balbix is very well poised to address these requirements&period; We are excited to take this journey with them as they continue to scale across the world&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;Balbix&&num;8217&semi;s ability to operate at massive enterprise scale to deliver valuable business outcomes in terms of risk reduction&comma; security team productivity and security program cost reduction&comma; puts it ahead of other companies in the industry&comma;&&num;8221&semi; said <span class&equals;"xn-person">Curtis McKee<&sol;span>&comma; Partner at Third Point Ventures&period; &&num;8220&semi;We are excited to work with company leadership to help scale Balbix and cement its leadership position in this rapidly growing market segment&period;&&num;8221&semi;<&sol;p>&NewLine;<&sol;div>&NewLine;<&sol;div>&NewLine;<&sol;div>&NewLine;<&sol;section>&NewLine;