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 this event as we dive into threat hunting tools and frameworks, and explore value of threat intelligence data in the defender’s security stack.

Register

Learn how integrating BAS and Automated Penetration Testing empowers security teams to quickly identify and validate threats, enabling prompt response and remediation.

Register

People on the Move

DARPA veteran Dan Kaufman has joined Badge as SVP, AI and Cybersecurity.

Kelly Shortridge has been promoted to VP of Security Products at Fastly.

After the passing of Amit Yoran, Tenable has appointed Steve Vintz and Mark Thurmond as co-CEOs.

More People On The Move

Expert Insights

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest cybersecurity news, threats, and expert insights. Unsubscribe at any time.