Risk I/O raises $5.25M to predict the future around enterprise security breaches
It’s not just Web-surfing consumers that need help finding signal among the ever-increasing digital noise. Vulnerability intelligence platform Risk I/O has raised $5.25 million in Series A financing to help enterprises aggregate, mine, and prioritize the mountains of vulnerability data coming in from across their assessment toolsets. The round was led by US Venture Partners, with participation from Tugboat Ventures and Costanoa Venture Capital. USVP’s Jacques Benkoski, Ph.D will join the company’s board of directors.
“The explosion of cyber attacks against businesses today combined with the variety of security assessment tools in use has left CISOs with an increasingly uncontrollable vulnerability management problem,” says Benkoski.
Risk I/O’s founder and CEO is former Orbitz CISO Ed Bellis. The security specialist built the platform based on the first-hand challenges he encountered while at the travel marketplace. The SaaS solution offers a single dashboard that aggregates and prioritizes data from over 20 of the most widely-deployed security systems including Qualys, Rapid7, HP, and IBM. Once vulnerabilities are identified, they can be tracked throughout their lifecycle, including through integrating existing bug tracking and trouble ticketing systems.
Most astonishingly, the Risk I/O attempts precognition (like in “Minority Report”), by leveraging predictive, big data analytics technology and contextual data to compare vulnerability data among thousands of companies on its platform to determine where a business is most likely to be attacked. WhiteHat Security Founder and CEO, and Risk I/O advisor, Jeremiah Grossman, calls the platform’s precognition capabilities “a first of their kind.”
With these best-in-class features and a community of existing Fortune 100 clients, Risk I/O is on a self-fulfilling of adoption. The more companies that use the product and the more breach data collected, the better the platform is able to react in the future. As far as competitive moats go, this is a pretty good one.
Nerd-tastic features like precognition and bug-tracking aside, businesses are constantly under attack. Whether the assailants are hostile foreign governments, competitors, or juvenile troublemakers, the scope of the threat is increasing daily. Tools like Risk I/O have never been more critical in allowing companies to quickly and effectively manage inevitable security breaches.