US-based cybersecurity technology producer RiskSense has boosted a series A round backed by telecommunications firm CenturyLink, to $14m following a contribution from venture capital firm Jump Capital.
RiskSense achieved a $7m first close for the round in August 2016. The first tranche was led by investment firm Paladin Capital Group, with participation from CenturyLink (which was not named as an investor at the time), Sun Mountain Capital, Epic Ventures and assorted angel investors.
Silicon Valley Bank has provided an undisclosed amount of debt financing for RiskSense, though it is not clear whether that capital forms part of the $7m figure.
RiskSense has developed a continuous monitoring platform that offers a unified overview of cyber risks together with contextual information.
The series A funding will support product development and allow the company to increase its sales and marketing activities and enter additional markets such as cybersecurity insurance.
Srinivas Mukkamala, co-founder and chief executive of RiskSense, said: “This series A extension is a significant endorsement of our company, technology, and market traction.
“Demand among governments and enterprises around the world for our cyber risk management solutions has greatly exceeded our expectations. This momentum played a key role in motivating our existing and new investors to commit additional funds to help us expand our sales, marketing and platform resources.”