US-based cybersecurity technology developer RiskSense has completed a $12m series B round backed by UL Ventures, the corporate venturing vehicle for safety and regulatory services provider UL.
Investment manager Spring Mountain Capital and investment firm NightDragon Security co-led the round, which also featured Paladin Capital Group, Sun Mountain Capital, Epic Ventures and Jump Capital.
RiskSense has created software that prioritises cyber threats and vulnerabilities in order of their relative seriousness so they can be tackled more efficiently. The funds will go to sales and marketing and research and development.
Srinivas Mukkamala, RiskSense’s CEO, said: “This new investment will allow us to take advantage of the enormous market opportunity for helping customers prioritise their risks.
“The funding will provide the resources we need to accelerate our business momentum and strengthen our technology advantage.”
The company raised $7m from Paladin Capital Group, Sun Mountain Capital and Epic Ventures in 2016, all three of which returned alongside Jump Capital and telecommunications company CenturyLink to double its funding to $14m in March 2017.