US-based cybersecurity technology provider Contrast Security closed a $65m series D round today backed by M12 and Axa Venture Partners, respective corporate venturing units of software producer Microsoft and insurer Axa.
Warburg Pincus led the oversubscribed round, while Battery Ventures, General Catalyst and Acero Capital also participated.
Founded in 2014, Contrast Security’s software detects vulnerabilities in applications and prevents data breaches. The platform identified a total of 1.9 million vulnerabilities in 2018 and protected its clients against a combined 52 million attacks.
The cash will allow Contrast Security to accelerate technology development, field operations and international expansion efforts. The company will also hire a significant number of customer support staff, though it did not offer a precise figure.
Contrast has now collected $122m in funding altogether, it said in its press release. Axa Venture Partners and M12 previously provided an undisclosed amount in December 2017 adding to an initial $30m series C round secured two months earlier.
The first series C tranche was led by Battery Ventures and also featured General Catalyst and Acero Capital.
Contrast’s shareholders also include angel investors Ron Gula, founder of cybersecurity developer Tenable Network Security, Paul Sagan, former CEO of content delivery network Akamai Technologies, and John Thompson, chairman of the board for Microsoft.
