Cloud cybersecurity provider SecurityScorecard announced on Thursday (June 23) that it locked down $20 million in Series B funding. The financing round was led by GV (formerly Google Ventures) with participation from existing investors, the company said in a statement.
The new capital will be used to accelerate SecurityScorecard's ongoing scale and foster innovation in its delivery of cybersecurity health ratings.
“Search engines crawl and index webpages across the internet. In a similar fashion, SecurityScorecard continuously surveys, analyzes and indexes vulnerabilities across the entire internet to determine the security posture for every organization worldwide," Dr. Aleksandr Yampolskiy, CEO of SecurityScorecard, explained. "We are excited to partner with GV and leverage their deep expertise in building and scaling great companies.”
Since launching in 2013, the company has actively tracked more than 100,000 companies and identified vulnerabilities using an outside-looking-in perspective. SecurityScorecard’s platform is currently used in the following use cases: vendor risk management, board of directors, mergers and acquisitions and cyberinsurance.
"SecurityScorecard is forever changing the way in which organizations engage and protect themselves with regard to cybersecurity," Tom Mendoza, vice chairman of NetApp, added. "They look at organizations from the outside in and observe company weaknesses with the same precision that hackers do. SecurityScorecard provides a unique and effective solution to a massive problem and is poised for tremendous growth."