RiskRecon, a Salt Lake City, UT-based third-party cyber risk management provider, raised $25m in Series B financing.
The round, which brings total funding to more than $40m, was led by Accel with participation from existing investors Dell Technologies Capital, General Catalyst, and F-Prime Capital, the global venture capital firm affiliated with Fidelity Investments and existing investors Mickey Boodaei, Rakesh Loonkar, and Paul Sagan. In conjunction with the investment, Accel partner Nate Niparko will join the company’s Board of Directors.
The company will use the capital to grow its team of security professionals and expand adoption for its third-party cyber risk management solutions.
Led by Kelly White, CEO, and Eric Blatte, President, RiskRecon provides a SaaS-based platform that enables enterprises to understand the cyber risk performance of their vendors based on continuous discovery of their systems and assessment of them against 39 security risk criteria.
It provides suggested risk prioritization of every issue surfaced based on issue severity and asset value. This risk contextualization enables customers to convert assessments into action, providing capabilities for customers to engage their vendors on the issues and themes that expose them to the greatest risk.