US-based cyber risk-assessment software developer RiskLens has completed a $20.6m series B round that included computing equipment maker Dell and insurance firm Massachusetts Mutual Life.
The round was led by investment firm Paladin Capital and included F-Prime Capital, a subsidiary of investment and financial services group Fidelity, and Osage Venture Partners. Dell and Massachusetts Mutual invested through Dell Technologies Capital and MassMutual Ventures respectively.
Founded in 2011, RiskLens provides software that allows enterprises and government organisations to quantify cyber risk in financial terms, assess risk mitigation and measure the effectiveness of their security investments. It will hire more sales, marketing, engineering and professional services staff using the funding.
Osage Venture Partners led the company’s $5m series A round in July 2017, investing with Dell Technologies Capital, Paladin Capital Group and Kick-Start. RiskLens had previously amassed $1.6m in equity financing across two rounds in 2015, according to securities filings.
Mark Goodman, managing director of MassMutual Ventures, said: “We have a unique view into the disruption RiskLens is bringing to the cyber risk management space as MassMutual is an existing RiskLens client. As many other leaders in cybersecurity and risk believe, RiskLens will soon become a ubiquitously trusted solution across all major enterprises.”