Cybersecurity technology developer FireEye acquired US-based cybersecurity validation software developer Verodin yesterday in a $250m deal that allowed corporates Cisco, Capital One and Citi to exit.
Founded in 2014, Verodin provides software that allows users to identify gaps and risks in their security controls by testing and assessing the effectiveness of endpoint, network, cloud and email security systems.
The Verodin Security Instrumentation Platform will enable FireEye’s product portfolio to run a review against a customer’s existing security setup and find gaps in coverage. Following the deal, Verodin’s services will be available both on a standalone basis and through FireEye’s channel partners.
FireEye CEO Kevin Mandia said: “Verodin gives us the ability to automate security effectiveness testing using the sophisticated attacks we spend hundreds of thousands of hours responding to, and provides a systematic, quantifiable and continuous approach to security program validation.”
TenEleven Ventures and Bessemer Venture Partners co-led a $21m series B round for Verodin in July 2018 that also featured Cisco Investments, Capital One Growth Ventures and Citi Ventures, respective subsidiaries of networking technology provider Cisco, Capital One and Citi.
The company had previously landed $10m in a 2016 series A round that included Cisco Investments, Blackstone, Rally Ventures and Crosslink Capital. That added to $2.1m Verodin had secured in 2015, according to a securities filing.