UpGuard, a Mountain View, CA- and Sydney, Australia-based third-party risk and attack surface management platform, completed a $19m ($25 million AUD) Series B-1 funding round.
Backers included existing investors IAG Firemark Ventures, the corporate venture capital unit of IAG, the largest general insurer in Australia, Pelion Venture Partners, Square Peg Capital and August Capital.
This Series B-1 round brings UpGuard’s total funding to $45m ($59m AUD).
The company intends to use the funds to accelerate the development of the UpGuard product and global expansion.
Led by Co-founders and Co-CEOs Mike Baukes and Alan Sharp-Paul, UpGuard is a cybersecurity platform that prevents data breaches by allowing businesses to assess and monitor the risk of their third-party vendors and protect against data leaks. Hundreds of companies use UpGuard with their vendor risk management such as The New York Stock Exchange, Tech Mahindra, the New South Wales Government, Superloop, Aware Super, PagerDuty, USO, and Lendlease.