EiQ Networks, a Boston, MA-based developer of hybrid SaaS security and continuous security intelligence services, raised $9.55m in Series C financing.
The round was led by Arrowroot Capital, with participation from both EiQ founders, Vijay Basani and Jay Reddy. In conjunction with the funding, Matthew Safaii, Founder and Managing Partner of Arrowroot Capital, is joining EiQ’s Board of Directors.
The company, which has raised nearly $30m to date, will use the funds to accelerate new customer acquisition through increased investment in sales and marketing initiatives as well as Hybrid SaaS security services delivery.
EiQ Networks provides hybrid SaaS security services for organizations that need to improve their IT security and compliance posture and protect against cyber threats and vulnerabilities. Its SOCVue is a subscription SaaS service that combines people, process, and technology to deliver an information security program, including:
– Proactive and Continuous Critical Security Controls Auditing
– Co-managed SIEM & Log Management
– Continuous Vulnerability Management
– 24x7x365 Security Monitoring by Trained EiQ SOC Security Analysts
– Incident Analysis, Notification, and Remediation Guidance, and
– Compliance Reporting.