A Spokane, Wash. startup just raised some serious cash to show companies how the threat of cyberattacks could impact their balance sheets.
RiskLens, a company that makes cybersecurity software for large companies and government organizations has raised a $20.55 million Series B round, led by Paladin Capital Group. Without going into specifics, RiskLens said in a press release it is in the midst of “100 percent year-over-year global growth,” and the cash infusion will fuel expansion across the company’s sales, marketing, engineering and professional services departments.
The company aims to change “the way large organizations assess, manage and report on cyber risk, by translating the impact of threats and vulnerabilities into the financial language of the business that everyone understands: dollars and cents,” RiskLens CEO Nick Sanna said in a statement.
RiskLens’ main product focuses on what the company calls Cyber Risk Quantification, and it’s a way for companies to communicate the financial impact of risk from cyberattacks and other incidents. The company says its goal is to bridge gaps of communication between IT and company executives.
The company was founded in 2011 as CXOWARE by Steven Tabacek and Jack Jones and later re-branded as RiskLens. Sanna, former CEO of Netuitive, was hired in 2015 and named CEO in January 2016.