CyberGRX, a Denver, CO-based provider a global cyber risk exchange, raised $40m in Series D funding.
The round was led by Iconiq Capital, with participation from existing investors AllegisCyber, Bessemer Venture Partners, The Blackstone Group, ClearSky, GV, MassMutual Ventures, Scale Venture Partners and TenEleven Ventures. In conjunction with the funding, Doug Pepper, General Partner, Iconiq Capital, joined CyberGRX’s board of directors.
The company, which has raised a total of $100m to date, intends to use the funds to expand internationally and continue its product development efforts.
Led by Fred Kneip, CEO, CyberGRX provides enterprises and their third parties with a dynamic stream of third-party data and advanced analytics to enable them to manage risk in their partner ecosystems.
This round precedes another year of growth for the company, which anticipates closing the year with 5x increase in recurring revenue and more than 54,000 organizations worldwide on their Exchange.