US-based cybersecurity software producer SecurityScorecard closed a $50m series D round yesterday that included Intel Capital and Axa Ventures, respective subsidiaries of semiconductor and data technology producer Intel and insurer Axa.
Investment firm Riverwood Capital led the round, participating alongside Evolution Equity Partners, Two Sigma Ventures and Accomplice. Riverwood Capital vice-president Joe De Pinho will join the company’s board of directors in conjunction with the round.
Founded in 2013, SecurityScorecard has developed software that helps users monitor and locate vulnerabilities in their cloud-based security systems as well as their third-party vendors. The platform then scores each threat to help find the most urgent risks to the company.
Aleksandr Yampolskiy, co-founder and chief executive of SecurityScorecard, said: “With transparency, unique data insights and unmatched scoring speed and coverage, we enable any company in the world to instantly claim their scorecard, act to improve their cybersecurity posture and invite others to do the same.”
Nokia Growth Partners (NGP), the venture capital firm sponsored by communications equipment maker Nokia, led a $27.5m series C round for the company in 2017, investing alongside Intel Capital, Axa’s Strategic Ventures unit, credit rating agency Moody’s Corporation, Boldstart Ventures, Two Sigma and Evolution Equity Partners.
GV, a corporate venturing vehicle for internet and technology conglomerate Alphabet, also took part in the series C round, having led SecurityScorecard’s $20m series B round the previous year, which included Sequoia Capital, Boldstart, Evolution Equity and Two Sigma.
Sequoia Capital led SecurityScorecard’s $12.5m series A round in 2015, which also featured Boldstart and Evolution. The latter two had already provided $2.2m in seed funding for the company in 2014.