Action1, a Houston, Texas-based provider of a risk-based patch management platform, raised $20 million in funding.
The investment aims to address the need for secure and easy-to-use cloud solutions for continuous remediation of security vulnerabilities on distributed networks.
The company intends to allocate the funds towards research and development (R&D), specifically focusing on implementing a zero-knowledge architecture into its platform.
Action1's cloud-native platform enables enterprises to address security vulnerabilities by streamlining the deployment of operating systems and third-party updates or implementing compensating controls.
By integrating a zero-knowledge architecture, Action1 aims to eliminate the risk of successful supply chain attacks targeting both the platform and its customers, allowing organizations to secure their endpoints with confidence.
"Action1, through its commitment to setting a new standard in patch management, provides enterprises with easy-to-use and powerful solutions for continuous patch compliance, all fortified by advanced security measures. These measures ensure the highest level of protection for the product and its underlying infrastructure, effectively addressing the evolving needs of modern distributed enterprises in mitigating the threat of supply chain attacks," said Mike Walters, President and co-founder of Action1.
Company: Action1 Corporation
Raised: $20.0M
Round: Unknown
Funding Month: June 2023
Lead Investors: Undisclosed
Additional Investors:
Company Website: https://www.action1.com/
Software Category: Cloud Risk-based Patch Management Software
About the Company: Founded in 2018 by Alex Vovk and Mike Walters, Action1 is a risk-based patch management platform for distributed networks trusted by thousands of global enterprises. Action1 helps to discover, prioritize, and remediate vulnerabilities in a single solution to prevent security breaches and ransomware attacks. It automates the patching of third-party software and operating systems, ensuring continuous patch compliance and remediation of security vulnerabilities.
Source: https://www.darkreading.com/endpoint/action1-announces-20m-investment-in-its-patch-management-platform