US-based risk analytics technology developer Bay Dynamics attracted $23m in funding yesterday, in a series B round featuring media and cable company Comcast’s investment subsidiary, Comcast Ventures.
Investment firm Carrick Capital Partners led the round, which follows an $8m series A round in 2014 led by Comcast Ventures.
Established in 2001, Bay Dynamics is the creator of Risk Fabric, a cybersecurity platform that automatically analyses data and provides contextual information to help companies identify and counter threats. Risk Fabric prioritises the protection of a businesses’ most valuable assets.
The cash will help Bay Dynamics accelerate its domestic and international growth, and its go-to market efforts as well as further development of its product.
Feris Rifai, co-founder and chief executive of Bay Dynamics, said: “We are already helping companies nationwide shift their approach to focusing on risks to their most valued assets as the driver of their cybersecurity decisions.
“Now we are going to expand our reach and continue to innovate so that companies can easily and effectively embrace cyber risk management as part of their regular business processes.”