SUNNYVALE and ALBUQUERQUE, NM — RiskSense, Inc., a pioneer in pro-active cyber risk management, announced the total capital raised in its Series A round of financing has increased to $14 Million. As part of this extension, Jump Capital joins existing investors Paladin Capital Group, Sun Mountain Capital, EPIC Ventures, and CenturyLink. Silicon Valley Bank provided a debt facility.
RiskSense plans to use the funds to expand sales and marketing, enter new markets such as cyber security insurance, as well as broaden and accelerate product development.
“Legacy vulnerability management systems do not work anymore as they struggle to scale across the risk landscape and offer limited workflow efficiencies,” said Saurabh Sharma, principal at Jump Capital, one of RiskSense’s new investors. “We were impressed by RiskSense’s disruptive continuous monitoring platform that provides a comprehensive attack surface coverage, leverages predictive analytics to prioritize critical attacks, and orchestrates remediation actions.”
RiskSense pioneered the category of cyber risk management in response to the increasing challenges of extracting actionable intelligence from the massive volume of data generated by the patchwork of cyber security products, including vulnerability scanners, threat intelligence feeds, and other complex security systems. Enterprises are seeking solutions to unify and contextualize the feeds from these disconnected, siloed tools and then prioritize and remediate those cyber risks that pose the biggest business impact. Rather than adding more tools, organizations are recognizing the need to implement a new, more efficient enterprise security model.
To address these challenges, RiskSense provides a pro-active approach to cyber risk management that identifies, visualizes, prioritizes, and orchestrates the remediation of cyber risks across a growing attack surface. The RiskSense Platform enables organizations to manage their cyber risks by unifying and contextualizing internal and external security intelligence into a single view, and then correlating these findings with business criticality to drive risk-based remediation.
Manual approaches can take months, during which time attackers can exploit vulnerabilities, causing damaging cyber breaches and loss of valuable data. RiskSense automates these processes, empowering organizations to reveal imminent cyber risks, increase the productivity of their limited cyber security staff, and minimize attack surface exposure.
“This Series A extension is a significant endorsement of our company, technology, and market traction,” said RiskSense co-founder and chief executive officer Dr. Srinivas Mukkamala. “Demand among governments and enterprises around the world for our cyber risk management solutions has greatly exceeded our expectations. This momentum played a key role in motivating our existing and new investors to commit additional funds to help us expand our sales, marketing, and platform resources.”