SecurityScorecard continues growth with $50m funding
SecurityScorecard aims to build on last year’s impressive growth after closing a $50 million Series D financing round, reports Jane Connolly.
The round was led by Riverwood Capital, with participation from existing investors including Evolution Equity, Intel Capital, Two Sigma, AXA Ventures and Accomplice. Joe De Pinho, vice president of Riverwood Capital, will join SecurityScorecard’s board of directors.
SecurityScorecard claims its platform offers the “gold standard” in security ratings, scoring over a million companies. It is used across 175 countries for underwriting, M&A due diligence, reputation management and vendor risk management.
The company will continue to expand its product suite and platform and advance corporate growth.
Last year SecurityScorecard doubled its customers and revenue, saw a 14-times increase in API endpoints, added more partner integrations and rapidly expanded its operations in EMEA and APAC.
“Trust and transparency are must-haves to be the industry standard for measuring security risk today,” says SecurityScorecard’s co-founder and CEO, Alexsandr Yampolskiy.
Francisco Alvarez Demalde, co-founder and managing partner of Riverwood Capital, adds: “by 2022, cybersecurity ratings will become as important as credit ratings when assessing the risk of business relationships.”
The company says it had around 1,000 enterprise customers actively monitoring over 150,000 companies on its platform last year.