US-based cybersecurity software developer Verodin has completed a $10m series A round that included Cisco Investments, networking equipment provider Cisco’s corporate venturing unit.
Private equity firm Blackstone, and venture capital firms Rally Ventures and Crosslink Capital also contributed capital to the round, which came roughly two months after Verodin emerged from stealth.
Verodin’s Instrumented Security platform fine-tunes a company’s cybersecurity infrastructure by constantly testing and monitoring its effectiveness through safe simulations of advanced cyberattack patterns in real time. It will use the cash to accelerate market growth.
Christopher Key, co-founder and CEO of Verodin, said: “We are excited to have the credibility and support of this group of security leaders behind Verodin’s execution.
“Together, with these new partners, we look forward to revolutionising how the effectiveness of cybersecurity is measured in a field otherwise governed by gratuitous spending and assumptions.”
Verodin previously secured $2.1m in seed funding in June 2015, according to a securities filing, though it has not disclosed details of earlier investors.