Cyber risk management company RiskSense recently raised $12 million in a Series B round of funding co-led by Spring Mountain Capital and NightDragon Security. The other investors in the round included UL Ventures, Paladin Capital Group, Sun Mountain Capital, EPIC Ventures, and Jump Capital. The new funds will support the company accelerate growth through sales, marketing, research & development investments, and help customers prioritize cybersecurity risks.
Formerly known as CAaNES, RiskSense was founded in 2006 by Srinivas Mukkamala. The company aids private and government organizations to reveal cyber risks and provides clear remediation guidance to fix them. The RiskSense’s technical team joined forces with the U.S. Department of Defense and U.S. Intelligence Community on applying artificial intelligence to cybersecurity threats as a part of the CACTUS (Computational Analysis of Cyber Terrorism against the U.S.) project.
“This new investment will allow us to take advantage of the enormous market opportunity for helping customers prioritize their risks. The funding will provide the resources we need to accelerate our business momentum and strengthen our technology advantage,” said Srinivas Mukkamala, CEO of RiskSense. “We are pleased to welcome Spring Mountain Capital to our board. Both Raymond Wong and Dave DeWalt will be invaluable advisors to our management team. ”
“Spring Mountain Capital invests in companies that are developing breakthrough technology innovations in high growth markets. RiskSense stands out in the cyber risk management sector because of its ability to identify and prioritize security blind spots, so companies can fix what matters most,” said Raymond Wong, Managing Director and Head of Growth Equity at Spring Mountain Capital. “We love the fact that RiskSense makes the security tools that companies already have more effective.”