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Cybersecurity Funding

IPO Prospect Rapid7 Takes $30 Million Investment

Rapid7, a Boston, Mass.-based provider of security analytics software and services, today announced that it has received $30 million in funding, bringing the total raised by the company to-date to $93 million.

Rapid7, a Boston, Mass.-based provider of security analytics software and services, today announced that it has received $30 million in funding, bringing the total raised by the company to-date to $93 million.

Best known for its Metasploit penetration testing products, which the company gained through its 2009 acquisition of the open source Metasploit Framework, Rapid7 continues to expand its security software and services to help customers reduce their attack surface and detect security incidents across the enterprise.

The additional funding, which comes from existing investors, Bain Capital and Technology Crossover Ventures, will help Rapid7 continue to innovate and expand its global enterprise customer base, the company said.

Rapid7 Logo

Rapid7, which earlier this year moved into a new 46,000 sq. foot headquarters in Boston’s Financial District, said interest in its offerings has been so compelling that its leadership and investors capitalized on a timely opportunity.

Asked by SecurityWeek if an IPO was in sight, Corey Thomas, president and CEO of Rapid7, did not share specific plans by the company to go public, but said an IPO for a company like Rapid7 would be a “natural progression.”

“As a private company, we don’t comment on these types of strategic initiatives, though I can say that accessing the public capital markets is a natural progression for a company with our size and growth profile,” Thomas told SecurityWeek.

“Right now, we’re focused on continuing to lead with our strong growth and product innovation,” Thomas said. “This funding is about taking advantage of an opportunity. There is a heightened and increasing level of awareness and concern over cyber security that’s being driven by the perfect storm created by (i) the rise of cloud services and consumer IT such as smart phones and laptops, (ii) the commoditization of cyberattack tools, and (iii) the number of high profile beach and vulnerability news stories being reported.”

“This funding enables us to maximize the opportunity by accelerating our investments in our technology innovation, products, and go to market, while maintaining our momentum with our core threat exposure management offerings,” Thomas said.

“Rapid7 has remained a strong performer within our portfolio since our first investment. It’s an efficient, established company that dares to innovate like a startup. We value Rapid7’s mission to give organizations the insight and capabilities they need to be successful with security and are excited to be a part of their continued success,” said Tim McAdam, general partner, Technology Crossover Ventures.

In November 2011, Rapid7 announced a massive $50 Million round of funding, and October 2012 acquired Seattle-based Mobilisafe to add mobile security offerings to its security product portfolio.  

Written By

For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

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