Risk I/O, a vulnerability intelligence platform, announced on Tuesday that it has secured $5.25 million in Series A funding. The money was raised from U.S. Venture Partners, with participation from Tugboat Ventures and Costanoa Venture Capital.
The money raised will be used for research and development, in an effort to expand sales and marketing here in the U.S., the company said. In their first year, Risk I/O said that it has signed more than 400 enterprise customers, something that surely helped attract investor interest and funding from the firms.
“Security professionals are faced with a sea of noise when it comes to security data generated by their numerous, disparate assessment tools. It is incredibly difficult to manually aggregate, mine and prioritize vulnerability data from these tools, and companies are often left exposed to attack for far too long,” said Ed Bellis, Risk I/O Cofounder & CEO.
To date, Risk I/O has processed over 6 million security vulnerabilities via its SaaS platform. The platform itself aggregates and prioritizes vulnerability data collected from over 20 of the most widely-deployed security assessment tools—including Qualys, Rapid7, HP, IBM and others in a single dashboard. From there vulnerability data can be tracked through the entire lifecycle.
The company said that it leverages a combination of sophisticated predictive, big data analytics technologies to compare a company’s own vulnerability data against that of thousands of others, as well as contextual data such as publicly available exploit information, in order to predict where a business is most likely to be attacked.
“Security holes are everywhere – in applications, networks, databases, you name it. Risk I/O is the only vulnerability intelligence platform to aggregate and prioritize all vulnerability data no matter which assessment technologies a company is using. It sits above the fray to help companies make sense of the flood of security issues they ingest on a daily basis,” said Jeremiah Grossman, Founder and CTO of WhiteHat Security and advisor to Risk I/O.
As a result of the funding, by U.S. Venture Partners’ Jacques Benkoski will join the Risk I/O Board of Directors. More information is available online.