US-based cybersecurity platform SecurityScorecard has secured $20m in a series B round led by GV, the corporate venturing division of internet technology conglomerate Alphabet.
Venture capital firms Sequoia Capital and Boldstart Ventures, private equity firm Evolution Equity Partners and hedge fund Two Sigma also took part in the round.
Founded in 2013, SecurityScorecard’s cloud-based technology continuously rates a network’s security risk to prevent data breaches. The tool identifies vulnerabilities from outside the network, operating the same way as a malicious actor would.
The company will use the series B funding to continue scaling its business. Karim Faris, general partner at GV, and Tom Mendoza, vice-chairman of data management company NetApp, will join SecurityScorecard’s board of directors. Mendoza will represent Sequoia Capital.
Sequoia previously led a $12.5m series A round forSecurityScorecard in March 2015 that featured existing investors Boldstart and Evolution, which provided $2.2m in seed capital in 2014.
Aleksandr Yampolskiy, CEO of SecurityScorecard, said: “Search engines crawl and index web pages across the internet. In a similar fashion, SecurityScorecard continuously surveys, analyses, and indexes vulnerabilities across the entire internet to determine the security posture for every organisation worldwide.
“We are excited to partner with GV [formerly Google Ventures] and leverage their deep expertise in building and scaling great companies.”