- BlueVoyant announced it closed an expanded $82.5 million in Series B funding round at a valuation of more than $430 million
- This round of funding will be used for accelerating the development of its cloud-based cybersecurity product platform
Analytics-driven cybersecurity company BlueVoyant announced it closed an expanded $82.5 million in Series B funding round at a valuation of more than $430 million. This new investment included participation from new existing investors along with financial services technology company Fiserv. Including this round, BlueVoyant has raised a total of $207.5 million.
This round of funding will enable the company to accelerate the development of its cloud-based cybersecurity product platform that is comprised of Managed Security Services, Advanced Threat Intelligence, and Professional Services.
Founded by CEO Jim Rosenthal and executive chairman Tom Glocer (former CEO of Thomson Reuters), BlueVoyant leverages its proprietary and open source Threat Intelligence coupled with information from its technology stack to enhance delivery across its services. And BlueVoyant is going to accelerate its growth across Europe and Asia through the expansion of sales, engineering, and Security Operations Center teams.
Rosenthal and Glocer met when Rosenthal was COO of Morgan Stanley and Glocer was a director at the financial services company. While they working at Morgan Stanley, the company was spending about $300 million per year on cybersecurity. This is when they realized that the industry was ripe for disruption.
“This latest round of funding will enable BlueVoyant to bring corporate cyber defense capabilities to global businesses of all sizes ranging from large businesses with advanced defenses to small-medium size enterprises,” said Rosenthal. “We were delighted to expand our Series B funding round to accommodate strong investor demand.”
Since BlueVoyant launched, it has become one of the fastest growing global cybersecurity companies. And when the Managed Security Services platform launched in June 2018, the company expanded its customer base to more than 150 clients from a cross-section of sectors including financial services, manufacturing, municipal government, education, and other sectors.
“The strategic alliance between Fiserv and BlueVoyant brings advanced cyber defense capabilities to banks and credit unions of all sizes,” added Fiserv Chief Administrative Officer Byron Vielehr. “Our continued investment in BlueVoyant underscores the value these capabilities can bring to our clients.”
