SecurityScorecard has been serving to companies understand the security risk of its vendors since 2014 by offering each one with a letter grade based on a preference of dimensions. Today, the company announced a $180 million Series E.
The round entails unusual investors Silver Lake Waterman, T. Rowe Value, Kayne Anderson Rudnick and Fitch Venture, along with existing investors Evolution Equity Partners, Accomplice, Riverwood Capital, Intel Capital, NGP Capital, AXA Venture Partners, GV (Google Ventures) and Boldstart Ventures. The company reports it has now raised $290 million.
Co-founder and CEO Aleksandr Yampolskiy says the company’s mission has no longer changed because it launched. “The idea that we started the company was a realization that after I was CISO and CTO I had no metrics at my disposal. I invested in all forms of solutions the place I was fully in the dark about how I’m doing compared to the trade and how my vendors and suppliers were doing compared to me,” Yampolskiy told me.
He and his co-founder COO Sam Kassoumeh likened this to a banker wanting at a mortgage application and having no credit get to take a look at. The company changed that by starting a system of scoring the security posture of diversified companies and giving them a letter grade of A-F just treasure at college.
Today, it has ratings on extra than 2 million companies worldwide, giving companies a way to understand how accept their vendors are. Yampolskiy says that his company’s resolution can rate a unusual company no longer in the data place in exactly five minutes. Every company can search its own scorecard without spending a dime along with advice on how to make stronger that get.
He notes that the disastrous SolarWinds hack was entirely predictable based on SecurityScorecard’s rating system. “SolarWinds’ get has been lagging under the trade average for somewhat a very prolonged time, so we weren’t really particularly stunned about them,” he said.
The trade average is around 85 or a solid B in the letter grade system, whereas SolarWinds was sitting at 70 or a C for somewhat some time, indicating its security posture was suspect, he reports.
Whereas Yampolskiy didn’t want to speak about valuation or income and even allege numbers, he did say the company has 17,000 customers worldwide, together with 7 of the 10 top pharmaceutical companies on this planet.
The company has reached a point the place this can be the last private fundraise it does ahead of going public, however Yampolskiy kept his cards shut on timing, saying it may happen some time in the next couple of years.