Risk I/O Extends Series A Funding, Hires New CEO

Risk I/O, a vulnerability intelligence platform designed to help organizations report and mitigate security vulnerabilities, announced this week that it has raised an additional $4 million as part of its Series A financing round, which the company originally announced in November 2012. 

The added funding brings the total raised by the company to $10.5 million.

The company said that it would use the added cash to expand sales and marketing efforts.

Risk I/O offers a platform that continuously aggregates attack data, breach data and exploit data from across the Internet, and correlates the data with an organization’s vulnerability scan results and other sources to monitor exposure.

The company says that it currently processes over 2.5 billion security vulnerabilities each day via its SaaS analytics platform, matching vulnerability scan data with Internet breach traffic from threat intelligence feeds from Dell, Verisign, AlienVault and others, to prioritize the vulnerabilities that pose the greatest threat to organizations.

The company said a recent integration with Dell Secureworks has exponentially increased the company’s customer base.

New CEO

In addition to announcing the funding, the company said that it has appointed Karim Toubba as chief executive officer.

Ed Bellis, Risk I/O Co-Founder and CEO, will continue to be involved in the day-to-day operations of Risk I/O, the company said.

Toubba most recently served as Vice President of Global Security Channels at Juniper Networks. He has also held executive positions at Ingrian Networks ahead of its acquisition by SafeNet, Inc., and Digital Island before its acquisition by Cable and Wireless.

“Security is one of the biggest generators of data in the enterprise, yet CISOs have very few tools to help them understand and make use of that data. Heartbleed and Shellshock offer sobering examples of how widespread and potentially devastating a single vulnerability can be, yet it is incredibly difficult for any security team to identify and address every vulnerability that comes into their organization,” said Toubba.

The financing was led by existing investor Costanoa Venture Capital, with participation from current investors U.S. Venture Partners (USVP), Tugboat Ventures and Hyde Park Angels. As part of the deal, Neill Occhiogrosso, Partner at Costanoa Venture Capital, will join the company’s board of directors.