- Rapidly growing security ratings company SecurityScorecard announced it raised $50 million in Series D funding led by Riverwood Capital
SecurityScorecard, a rapidly growing security ratings company, announced it has completed a $50 million Series D round of funding led by Riverwood Capital. Existing SecurityScorecard investors Evolution Equity, Intel Capital, Two Sigma, AXA Ventures, Accomplice, and several others also participated in this round.
Including this round, SecurityScorecard has raised $110 million total. With this round of funding, SecurityScorecard is going to continue aggressively expanding its product suite and platform.
SecurityScorecard is the only security ratings provider to have scored over 1 million companies. And SecurityScorecard is known for providing the industry’s broadest range of rated companies. Launched in late 2013 by Dr. Yampolskiy and Sam Kassoumeh, SecurityScorecard’s cloud solutions are becoming an increasingly integral part of the security technology stack.
“Trust and transparency are must-haves to be the industry standard for measuring security risk today. SecurityScorecard is the only security ratings provider with complete transparency and visibility into the ratings methodology,” said SecurityScorecard CEO and co-founder Aleksandr Yampolskiy. “With transparency, unique data insights, and unmatched scoring speed and coverage, we enable any company in the world to instantly claim their scorecard, act to improve their cybersecurity posture, and invite others to do the same. The future is bright, and we look forward to spreading SecurityScorecard as the blueprint to a safer world.”
Now SecurityScorecard’s platform for security ratings is used across 175 countries cybersecurity insurance underwriting, M&A due diligence, reputation management, and vendor risk management.
“SecurityScorecard’s growth, team, and technology leadership in providing a standard for cybersecurity ratings and risk management is impressive,” added Francisco Alvarez-Demalde — Co-Founder and Managing Partner of Riverwood Capital. “We are very enthusiastic with the long term potential of the company given the increasing importance of understanding, measuring and monitoring cybersecurity risk, and the company’s ability to build such a unique technology platform and offering for its customers.” According to Gartner, “By 2022, cybersecurity ratings will become as important as credit ratings when assessing the risk of existing and new business relationships.”*
This round of funding will be used for further advancing SecurityScorecard’s corporate growth and fast-yielding financial performance. Over the course of 2018, SecurityScorecard doubled customers, doubled revenue for the fourth year in a row, hit more than 100% year-over-year growth, and surpassed 1,000 enterprise customers actively monitoring over 150,000 companies on the SecurityScorecard platform.
“We have been impressed by SecurityScorecard’s excellent competitive win rate as seen by the increasing number of Fortune 500 companies standardizing on the SecurityScorecard platform for self-assessments, board reporting and third-party risk management,” explained Riverwood Capital VP Joe R. De Pinho — who is also joining the board of directors at the company.
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