Kenna Security, a US-based developer of cybersecurity risk prediction software, received $48m in series D funding from investors including Citi Ventures, the corporate venturing subsidiary of financial services firm Citi, yesterday.
The round also featured growth equity firm Sorenson Capital, venture capital firms Bessemer Venture Partners (BVP), US Venture Partners (USVP) and Costanoa Ventures, angel syndicate Hyde Park Angels, equity crowdfunding platform OurCrowd and undisclosed existing backers.
Founded in 2010 as HoneyApps and later known as Risk I/O, Kenna has created a cybersecurity software platform for enterprises that provides real-time analysis and predictions of flaws in their IT system so they can be remedied by the client’s human IT specialists.
The company employs data science and machine learning to prioritise a customer’s biggest cyber threats and benchmark their overall security status against other companies.
The round brought Kenna’s total funding to $98m, and the capital will go towards the next phase of its growth plans, which include international expansion and innovation activities. Sorenson Capital managing director Ken Elefant will join its board of directors.
BVP led the company’s $25m series C round in March 2018, investing alongside USVP, OurCrowd, Costanoa Ventures, Hyde Park Angels and PeakSpan Capital. The latter four had supplied $15m for Kenna in a series B round that closed in 2016.
Kenna had collected $10.5m in a series A round that closed two years earlier with funding from Costanoa Ventures, Hyde Park Angels, USVP and Tugboat Ventures.