RiskSense Secures $7 Million Investment to Accelerate Growth
Paladin Capital Group Leads Round; Cyber Risk Management Leader will use Funds to Aggressively Scale its Sales, Marketing, and Product Innovation Resources
Sunnyvale, Calif. & Albuquerque, N.M. – August 3, 2016 – RiskSense®, Inc., the pioneer and market leader in pro-active cyber risk management, today announced that it is closing a $7 Million round of funding led by Paladin Capital Group, with participation from Sun Mountain Capital, EPIC Ventures, as well as other strategic and private investors. The investment will help RiskSense continue its rapid growth by expanding its sales and marketing efforts, as well as broadening and accelerating product development. Paladin Capital Group principal Mourad Yesayan will join RiskSense’s board of directors.
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.
“With RiskSense, enterprises and governments are finally able to manage cyber risk, quickly orchestrate remediation, and monitor the results in the context of the organization’s business goals,” said RiskSense co-founder and chief executive officer Dr. Srinivas Mukkamala. “This round of financing will help us invest in the resources we need to execute our vision even more rapidly and broadly – and capture more market share.”
“We quickly saw the unique value RiskSense delivers for their customers, both as a force-multiplier for increasingly scarce cyber security operations talent, as well as providing cyber risk management visibility and best practices for the C-Suite,” said Mourad Yesayan, principal at Paladin Capital Group. “Paladin’s investment will help RiskSense continue to capitalize on the global demand for its award-winning solutions and accelerate product innovation. We are excited to partner with the company to support its next phase of growth.”
RiskSense was founded as a technology transfer from New Mexico Institute of Mining and Technology (NMT) to commercialize the university’s cyber security research. The advanced cyber research programs at NMT, led by the founders of the company, were funded in partnership with the U.S. Department of Defense and U.S. Intelligence Community. After validation of the research and technology for both commercial and government applications, the company was spun out of NMT.
This funding round is the latest in a series of important milestones achieved by the company so far this year. RiskSense has demonstrated continued strong financial performance, made key executive appointments, opened a new office in Silicon Valley, doubled its workforce, and increased its client base to more than 150 customers spanning every major industry vertical, including some of the largest financial services, telecommunications, utilities, retail, new media, healthcare, higher education, and government organizations.
About Paladin Capital Group
Paladin Capital Group was founded in 2001 and has offices in Washington DC, Silicon Valley, New York, and London. It is a worldwide leader in investments in cyber and digital infrastructure resilience, having completed over 40 cyber related transactions over the last decade. As a multi-stage investor, Paladin focuses on best-of-breed companies with technologies, products, and services that meet the challenging global cyber security and digital infrastructure needs for governments, as well as commercial companies. Paladin has over $1 billion under management.
About RiskSense RiskSense®, Inc., is the pioneer and market leader in pro-active cyber risk management. The company enables enterprises and governments to reveal cyber risk, quickly orchestrate remediation, and monitor the results. This is done by unifying and contextualizing internal security intelligence, external threat data, and business criticality across a growing attack surface.
The company’s Software-as-a-Service (SaaS) Platform transforms cyber risk management into a more pro-active, collaborative, and real-time discipline. The RiskSense Platform embodies the expertise and intimate knowledge gained from real world experience in defending critical networks from the world’s most dangerous cyber adversaries. As part of a team that collaborated with the U.S. Department of Defense and U.S. Intelligence Community, RiskSense founders developed Computational Analysis of Cyber Terrorism against the U.S. (CACTUS), Support Vectors Intrusion Detection, Behavior Risk Analysis of Vicious Executables (BRAVE), and the Strike Team Program.
By leveraging RiskSense cyber risk management solutions, organizations can significantly shorten time-to-remediation, increase operational efficiency, strengthen their security programs, improve cyber hygiene, heighten response readiness, reduce costs, and ultimately minimize cyber risks. For more information, please visit www.risksense.com or follow us on Twitter at @RiskSense.