Balbix, Inc., a San Jose, CA-based provider of a system built for avoiding breaches, raised $20m in Series B funding.
The round was led by Singtel Innov8, the corporate venture fund of the Singtel Group, and Mubadala Ventures, the venture arm of Abu Dhabi’s Mubadala Investment Company, with participation from Cisco veteran leaders, former CEO and Executive Chairman John Chambers (and founder and CEO of JC2 Ventures) and former EVP and Chief Development Officer Pankaj Patel, as well as Series A investor Mayfield Fund, and longtime entrepreneurs BV Jagadeesh and Gary Gauba. In conjunction with the funding, Patel, Gauba and Jeff Karras, managing director of Singtel Innov8, joined Balbix’ board of directors.
The company intends to use the funds to expand its go-to-market strategy and accelerate growth.
To expand its go-to-market leadership, Balbix has hired Jeff True as its chief revenue officer and Chris Griffith as its vice president of business development and alliances.
Led by Gaurav Banga, CEO and founder, Balbix provides both enterprise customers and global managed security service providers (MSSP) with BreachControl™, a breach avoidance platform that leverages deep learning and other advanced AI algorithms to continuously gather and analyze data about an enterprise’s massive attack surface to produce relevant insights for different stakeholders.
Balbix can predict where and how breaches are likely to happen (before attacks start) and provides specific prescriptions and workflow support to improve security posture, develop cyber-resilience, and avoid breaches.