Balbix, a San Jose, Calif.-based cybersecurity posture automation company, announced that it raised $70 million in Series C funding.
The round was led by Redline Capital were joined by new investors, Third Point Ventures, Nautilus Venture Partners, Modern Venture Partners, and Franklin Park as well as existing investors Mayfield, JC2 Ventures, Mubadala Capital, Alter Venture Partners, and Singtel Innov8.
The funds will be used to build out Balbix’s go-to-market capabilities and continued engineering investments to address market needs across unified asset inventory, software bill of materials (SBOM), vulnerability management, cyber risk quantification, and security posture automation.
The Series C announcement comes on the heels of Balbix’s rapid 2.5x growth in annual recurring revenue (ARR) over the last twelve months, including four multi-million-dollar deals closed with Fortune 100 companies.
Company: Balbix Inc.
Raised: $70.0M
Round: Series C
Funding Month: March 2022
Lead Investors: Redline Capital
Additional Investors: Third Point Ventures, Nautilus Venture Partners, Modern Venture Partners, Franklin Park, Mayfield, JC2 Ventures, Mubadala Capital, Alter Venture Partners, and Singtel Innov8.
Company Website: https://www.balbix.com/
Software Category: cybersecurity posture automation
About the Company: Balbix is the world’s leading cybersecurity posture automation company. The Balbix Security Cloud uses AI and automation to reinvent how the world’s leading organizations reduce their cyber risk. With Balbix, security teams can accurately inventory their cloud and on-premise assets, conduct risk-based vulnerability management, and quantify their cyber risk in monetary terms. Balbix was ranked #32 on the 2021 Deloitte Fast 500 North America and was named a Gartner ‘Cool Vendor.’
Source: https://www.balbix.com/press-releases/balbix-announces-70m-series-c-funding/