US-based cybersecurity services provider RiskRecon secured $25m on Tuesday in a series B round that included Dell Technologies Capital, computing equipment producer Dell’s corporate venturing unit.
Accel led the round, which included investments from fellow venture capital firm General Catalyst and F-Prime Capital, a VC affiliate of investment and financial services group Fidelity, as well as private investors Mickey Boodaei, Rakesh Loonkar and Paul Sagan.
RiskRecon has developed a platform that helps organisations manage third-party cybersecurity risks by giving them access to detailed security assessments of potential vendors on demand.
General Catalyst joined undisclosed angel investors to supply $3m for RiskRecon in a 2016 seed round, before returning for a $12m series A round led by Dell Technologies Capital and backed by F-Prime Capital and Paul Sagan in June 2017.
Eric Blatte, RiskRecon’s co-founder and president, said: “We are thankful for the customers and investors who have joined with us to build RiskRecon into a world-class technology company.
“In the next few years, the broader industry, including the mid-market, will be adopting third-party cyber risk products and RiskRecon is well-positioned to take advantage of this growing market demand.”
Nate Niparko, a partner at Accel, will join the board of directors at RiskRecon in conjunction with the round.