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Cybersecurity Posture Management Firm Balbix Raises $70 Million

Cybersecurity posture management company Balbix this week announced raising $70 million in a Series C funding round, which brings the total investment in the firm to more than $100 million.

The latest funding round was led by Redline Capital, with participation from Third Point Ventures, Nautilus Venture Partners, Modern Venture Partners, Franklin Park, Mayfield, JC2 Ventures, Mubadala Capital, Alter Venture Partners, and Singtel Innov8.

The money will be used to improve the company’s products and for its go-to-market strategy.

Balbix has developed a cybersecurity posture automation platform that enables security teams to inventory their cloud and on-premises assets, conduct vulnerability management, and quantify their cyber risk in monetary terms.

Balbix claims its annual recurring revenue more than doubled in the last year, when it signed multi-million dollar contracts with four Fortune 100 companies.

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.