SecurityScorecard, a New York, NY-based cybersecurity risk-monitoring platform, as per recent reports last week, has just closed a Series D financing round, raising $50 million in investment funding. The recent funding round was led by Riverwood Capital, a Menlo Park, California-based globally-focused private equity firm, and was participated by SecurityScorecard’s existing investors: Evolution Equity, Intel Capital, Two Sigma, AXA Ventures, and Accomplice.
As part of this investment, Joe De Pinho, Vice President of Riverwood Capital, will be joining SecurityScorecard as a member of its board of directors.
According to the New York-based cybersecurity firm’s claims the SecurityScorecard cybersecurity platform is the “gold standard” in security ratings, that surfaces as a top player outbidding more than a million companies. The platform is widely used across 175 countries for underwriting, M&A due diligence, reputation management, and vendor risk management services.
With this recent funding, the company plans on continuing its product suite and platform expansion plans to advance corporate growth. Last year, in 2018, the company doubled its customer base and revenue, reporting a 14-times increase in API endpoints, additional partner integrations, and rapid expansion of operations in EMEA and APAC nations.
“Trust and transparency are must-haves to be the industry standard for measuring security risk today,” states Alexsandr Yampolskiy, co-founder & CEO of SecurityScorecard.
“By 2022, cybersecurity ratings will become as important as credit ratings when assessing the risk of business relationships,” adds Francisco Alvarez Demalde, co-founder & Managing Partner of Riverwood Capital.