Internet Security Company WhiteHat Raises $31 Million
WhiteHat Security is a U.S. based security company that has raised $31 million in funding. The company has hit around $50 million in funding total. The company plans to use the funding to expand overseas and increase their focus on SMBs. JMI Equity led this round of funding and existing investor Investor Growth Capital also participated.
“This investment will enable WhiteHat to further that momentum by expanding into new global markets as well as broaden its market share with enterprise and SME [small and medium enterprise] customers,” said WhiteHat.
WhiteHat provides security for websites and they help protect online assets of enterprise customers. Their clients range across various sectors including e-commerce, financial services, IT, and healthcare companies. The company’s bookings are up by 75% year-on-year and their customer retention rate is 95%.
WhiteHat is also very focused on mobile. The company launched a service called Sentinel Mobile for mobile security and Sentinel Source offers Static Application Security Testing (SAST).