US-based cybersecurity software producer CyberGRX has raised $20m in a series B round featuring the investment arms of healthcare provider Aetna, internet technology conglomerate Alphabet and insurer Massachusetts Mutual Life Insurance.
Aetna Ventures, GV and MassMutual Ventures participated alongside Bessemer Venture Partners (BVP), which led the round, Allegis Capital, TenEleven Ventures, ClearSky, Rally Ventures and additional, existing strategic investors.
Other investors and partners for CyberGRX include Blackstone, and ClearSky Power and Technology Fund as well as several undisclosed institutions and private investors.
CyberGRX has created a third-party cyber risk management platform that analyses cyberthreats across an enterprise’s entire ecosystem of users, vendors and partners. The technology aims to thwart attacks exploiting the increasingly complex networks of businesses.
The company will use the capital to accelerate adoption of its CyberGRX Exchange platform, and BVP partner David Cowan will join its board of directors in conjunction with the round.
CyberGRX received $9m in a July 2016 series A round led by Allegis Capital that included GV, MassMutual Ventures, TenEleven Ventures, Rally Ventures and Blackstone.