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Cybersecurity Ratings, Risk Analysis: SecurityScorecard Raises $50M

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.

Dan Kobialka

Dan Kobialka is senior contributing editor, MSSP Alert and ChannelE2E. He covers IT security, IT service provider business strategies and partner programs. Dan holds a M.A. in Print and Multimedia Journalism from Emerson College and a B.A. in English from Bridgewater State University. In his free time, Dan enjoys jogging, traveling, playing sports, touring breweries and watching football.