CyberGRX, a Denver, CO-based provider of a global cyber risk exchange, raised $30m in Series C funding.
The round was led by Scale Venture Partners, with participation from existing investors Aetna Ventures, AllegisCyber, Bessemer Venture Partners, The Blackstone Group, ClearSky, GV, MassMutual Ventures, and TenEleven Ventures. In conjunction with the funding, Ariel Tseitlin, a partner at Scale Venture Partners, will join CyberGRX’s board of directors.
The company, which has raised a total of $59m in equity financing to date, intends to use the funds to further extend augmentation capabilities with a new analytics package, and to build a community where enterprises can organize a collective defense against attackers.
Led by Fred Kneip, CEO, CyberGRX provides enterprises and their third parties with a cyber risk Exchange, to share dynamic data and create actionable insights on how to prioritize and reduce their collective risk.
Brian Fegley, as CyberGRX’s Vice President of Customer Success. Fegley and his team will focus on ensuring the CyberGRX customer experience on and off the Exchange is conducive to helping third parties and their customers work together to reduce risk. The Exchange, built on a shared cost model, features comprehensive, standardized assessments as well as the advanced analytics to turn that data into actionable insights and augment teams to achieve more with existing resources.