SecurityScorecard, a cybersecurity ratings and risk analysis provider, has raised $50 million in a Series D financing round led by private equity firm Riverwood Capital. The Series D financing brings SecurityScorecard's total funding to $110 million.
Risk analysis and mitigation services are particularly important to MSPs and MSSPs -- especially as such companies try to lock down their own businesses before extending such risk analysis services out to end-customers.
SecurityScorecard will use the Series D financing to expand globally, the company stated. It also will explore ways to accelerate its growth following a successful performance in 2018.
SecurityScorecard's 2018 financial and business metrics included:
- Doubled its customer base year over year.
- Doubled its revenue year over year; 2018 was the fourth consecutive year in which SecurityScorecard doubled its revenue.
- Exceeded 100 percent year-over-year annual recurring revenue growth.
SecurityScorecard recently ranked the cyber risk exposure of U.S. and European political parties. In addition, approximately 1,000 enterprises currently use the SecurityScorecard platform.
A Closer Look at SecurityScorecard's Platform
SecurityScorecard's platform empowers organizations to identify and resolve IT infrastructure risk, the company said. It offers a variety of security capabilities, including:
- Security Ratings: Enables end users to view and monitor security ratings.
- Data Analytics: Leverages security collection capabilities and advanced machine learning algorithms to identify security vulnerabilities.
- Threat Intelligence: Collects terabytes of security data and transforms this information into intelligence that can be used to identify cyber risks and prevent exploits.
Furthermore, SecurityScorecard provides a free security scorecard to help organizations analyze their security posture across 10 risk categories. SecurityScorecard also allows users to answer security scorecard questions and receive a personalized scorecard in minutes via email.