Black Kite, a cybersecurity startup based mostly in Boston, has raised $22 million in Collection B funding to satisfy the rising demand for cybersecurity options.
The funding spherical, which was led by Volition Capital, brings the full funding raised by the startup since 2019 to greater than $33 million. Present buyers Moore Strategic Ventures, LLC (MSV), Glasswing Ventures, and Information Level Capital additionally participated. Sean Cantwell, Managing Companion at Volition Capital. Referred to the agency’s participation by stating:
“Third-party cyber danger administration is a persistent and rising concern for organizations throughout all industries, and options that almost all successfully mitigate these dangers have important progress potential. Black Kite’s distinctive standards-based method to produce chain danger evaluation coupled with a powerful administration group has enabled important market progress and traction. As long-time buyers in provide chain compliance and safety software program companies, we consider that Black Kite is well-positioned to emerge because the category-leading third-party cyber danger platform.”
Black kite was based again in 2016 with the mission to revolutionize how third-party danger administration (TPRM) was performed. By specializing in penetration testing from a black hat’s perspective, the startup has developed a platform that approaches cybersecurity from a technical, monetary, and compliance perspective. Paul Paget, CEO of Black Kite, stated on this regard:
“Ransomware danger to produce chains and significant infrastructure suppliers can solely be mitigated by way of a transparent and real-time view of threats and vulnerabilities throughout organizations and their buying and selling companions.”
The platform developed by the startup has been adopted by greater than 300 prospects worldwide, permitting them to evaluate cyber dangers rapidly and cost-effectively. The brand new funding might be utilized by the startup to spice up its advertising and marketing, buyer success, channels, and strategic partnerships, permitting it to maintain the expansion fee that has resulted in a 100% improve in consumer base and worker headcount over the previous yr.
With cybercrime persevering with to turn out to be more and more related to organizations throughout the globe, the demand for cybersecurity options that defend in opposition to ransomware, Distributed Denial of Service (DDoS), company spying, and different sorts of cyberattacks, proceed to soar. Black Kite is decided to satisfy this demand whereas protecting its platform up to date on the newest safety practices to facilitate the closing of crucial safety gaps.