US-headquartered cybersecurity ratings provider SecurityScorecard closed a $180m series E round today featuring investment vehicles for semiconductor technology producer Intel, internet and technology group Alphabet and insurance firm Axa.
Intel Capital, GV and Axa Venture Partners joined Silver Lake Waterman, Kayne Anderson Rudnick, Fitch Ventures, Evolution Equity Partners, Accomplice, Riverwood Capital, NGP Capital, Boldstart Ventures and funds and accounts advised by T Rowe Price in the round.
SecurityScorecard provides a cybersecurity ratings service that covers near to 2 million organisations, helping corporate customers and manage security risk and underwrite cybersecurity insurance policies.
Aleksandr Yampolskiy, SecurityScorecard’s co-founder and chief executive, said: “With the increasing number of breaches, cybersecurity ratings are a must-have for organisations to make critical business decisions.
“The size and calibre of this financing is a testament to the confidence that our existing and new investors have in SecurityScorecard. We have seen a fundamental shift in budgets to cybersecurity ratings and have passed the tipping point where the depth of our data and network effects are driving broad market adoption.”
The round valued the company at almost $1bn, a person familiar with the matter told Reuters, and it has now raised a total of more than $290m. JP Morgan Securities was placement agent for the transaction.
GV led SecurityScorecard’s $20m series B round in 2016, investing together with Two Sigma and existing backers Evolution Equity Partners, Sequoia Capital and Boldstart Ventures.
The company added $27.5m in a 2017 series C round led by NGP Capital (then Nokia Growth Partners) that included Intel Capital, Axa Strategic Ventures, credit rating agency Moody’s, Boldstart Ventures, Two Sigma and Evolution Equity Partners.
Riverwood Capital subsequently led a $50m series D round for the company in mid-2019 that also featured Intel Capital, Axa Ventures, Evolution Equity Partners, Two Sigma Ventures and Accomplice.
