US-based cybersecurity platform CyberGRX closed a $9m series A round on Thursday featuring the corporate venturing subsidiaries of technology conglomerate Alphabet, software developer TenEleven and insurance provider Massachusetts Mutual Life Insurance.
GV, TenEleven Ventures and MassMutual Ventures were joined by asset management firm Blackstone and venture capital firms Rally Ventures and Allegis Capital, the latter of which led the round.
Healthcare company Aetna, VC fund ClearSky Power and Technology Fund and assorted individuals, alongside unnamed institutions, are also listed as investors and partners on CyberGRX’s website.
CyberGRX operates a third-party cyber risk management platform that analyses a company’s cyberthreats across the entire ecosystem. It aims to prevent attacks perpetrated through increasingly complex networks of vendors, consumers and partners.
The money will be used to bring the platform to market in early 2017. Fred Kneip, chief executive of CyberGRX, said: “CyberGRX is built by security practitioners who bring a risk-based perspective to security control assessment.
“CyberGRX helps enterprises not only automate and standardise the collection of information, but also prioritise, evaluate and remediate risk. Instead of incrementally improving what people do today, CyberGRX fundamentally changes the way organisations address cyber risk in an increasingly interdependent world.”