BitSight Technologies, a US-based data analytics company focusing on risk management, completed a $23m series B round featuring Comcast Ventures, the corporate venturing arm of cable service provider Comcast, on Thursday.
Flybridge Capital Partners, a venture capital firm spun out of technology research and media company International Data Group, Globespan Capital Partners, Menlo Ventures, Commonwealth Capital Ventures and BitSight chief executive Shaun McConnon also participated in the round.
Founded in 2011, BitSight’s technology continuously collects and analyses data about the efficiency of a company’s security policies implementation. The platform takes a range of factors into account, such as the configuration of email servers and whether the network has been infected by malware.
BitSight will use the funding to expand into the Europe and Asia-Pacific regions, develop new products, hire additional engineers and data scientists, and seek out potential acquisitions.
The company previously secured $24m in a 2013 series A round backed by Flybridge, Globespan, Menlo and Commonwealth. It also raised $2m in seed funding in 2011.
David Zilberman, managing director of Comcast Ventures, said: “BitSight has all the right ingredients for success, including a seasoned leadership team, innovative technology and a growing customer base.
“Given the necessity for continuous vendor management, it is important for us to invest in a company that has the potential to truly change the way all organisations measure risk and rate cyber security performance. BitSight is on an impressive trajectory.”