Electricity and gas utility National Grid and insurer Massachusetts Mutual are set to exit US-based cybersecurity technology producer RiskIQ after software provider Microsoft agreed yesterday to buy it for an undisclosed amount.
The announcement came after people familiar with the matter told Bloomberg last week Microsoft was set to pay over $500m in cash for the company.
Founded in 2009, RiskIQ operates an attack surface management platform that helps enterprises identify and address vulnerabilities to cyber threats coming from outside their firewalls.
The software sources threat intelligence data from across the internet to provide its customers with insights into the source and methods of cyberattacks. RiskIQ claims its platform is used by more than 100,000 security professionals.
Elias Manousos co-founder and CEO of RiskIQ, said: “We are thrilled to add RiskIQ’s attack surface and threat intelligence solutions to the Microsoft Security portfolio, extending and accelerating our impact. Our combined capabilities will enable best-in-class protection, investigations and response against today’s threats.”
The company had raised $83m of funding, including a $15m series D round in June 2020 that included MassMutual Ventures and National Grid Partners, on behalf of National Grid and Massachusetts Mutual, as well as Georgian Partners, Summit Partners and Battery Ventures.
RiskIQ had closed a $30.5m series C round in 2016 led by Georgian Partners that also featured MassMutual Ventures, Summit Partners and Battery Ventures.
MassMutual Ventures also contributed to a $27.5m series B round for the company that closed in 2014 and which was led by Battery Ventures and also backed by Summit Partners and Florence Venture Partners.