Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Application Security

Asset Discovery Provider Panaseer Raises $26.5 Million

Asset and security control management provider Panaseer on Wednesday announced a new $26.5 million round of funding, bringing the total investment in the company up to $43 million.

Asset and security control management provider Panaseer on Wednesday announced a new $26.5 million round of funding, bringing the total investment in the company up to $43 million.

The Series B funding round was led by AllegisCyber Capital, with participation from existing investors AlbionVC, Cisco Investments, Paladin Capital Group, Evolution Equity Partners, and Notion Capital, and new investor National Grid Partners.

The company plans to use the new funds to accelerate product development and further invest in customer success and service delivery.


Founded in 2014 in in the U.K., Panaseer provides a Continuous Controls Monitoring platform that enterprises can leverage to identify assets and control gaps, as well as to discover security controls that might be underperforming.


[SEE: Cyber Asset Management Startup JupiterOne Raises $30 Million ]


Advertisement. Scroll to continue reading.

According to Panaseer, the platform can help understand exposures such as zero-days and the manner in which these may affect business-critical systems or processes. It can also tracks remediation.


With CCM becoming a required capability for regulated enterprises, Panaseer has experienced three-fold growth in 2020, and claims customer feedback on its platform has been great.


“CCM continuously validates and measures levels of protection and provides notifications of failures. Ultimately, CCM enables these failures to be fixed before they become security incidents, saving time, cost, and allowing businesses to go faster,” Jonathan Gill, CEO of Panaseer, said.


Related: DevOps Security Startup Cycode Raises $20 Million

Related: Cymulate Raises $45 Million for Attack Simulation Platform

Related: Cybersecurity M&A Roundup: 16 Deals Announced May 1-9, 2021

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.

Register

SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.

Register

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Vulnerabilities

Less than a week after announcing that it would suspended service indefinitely due to a conflict with an (at the time) unnamed security researcher...

Cybercrime

The changing nature of what we still generally call ransomware will continue through 2023, driven by three primary conditions.

Data Protection

The cryptopocalypse is the point at which quantum computing becomes powerful enough to use Shor’s algorithm to crack PKI encryption.

Cybercrime

A recently disclosed vBulletin vulnerability, which had a zero-day status for roughly two days last week, was exploited in a hacker attack targeting the...

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Identity & Access

Zero trust is not a replacement for identity and access management (IAM), but is the extension of IAM principles from people to everyone and...

Data Breaches

OpenAI has confirmed a ChatGPT data breach on the same day a security firm reported seeing the use of a component affected by an...