Threat detection platform RiskIQ finds $30.5m

Digital risk management company RiskIQ has landed $30.5m in a Series C round.

Georgian Partners led the investment with Summit Partners, Battery Ventures and MassMutual Ventures also participating.

The San Francisco-based firm’s platform is designed to allow companies to assess and manage external security threats outside the firewall.

RiskIQ says it will use the capital to expand its ecosystem, sales operation and platform applications.

It’s clients include financial services companies for whom security is becoming increasingly important as well as businesses across technology, retail, government, healthcare, media and manufacturing.

The chairman of the Treasury Committee in the UK House of Commons Andrew Tyrie recently wrote to FCA CEO Andrew Bailey and Deputy governor of the Bank of England Sam Woods to express his concern surrounding weaknesses in the UK’s banking system.

Summit Partners managing director Greg Goldfarb highlighted the technology’s ability to detect potential threats, “inside and the outside of the enterprise boundary” as key selling point for the company.

He said, “Threats start outside the firewall, move inside, and exfiltrate data back outside – and all the while malicious actors can compromise a company’s digital assets, vendors, and customers across web, mobile, and social environments.”

RiskIQ operates across the US, European and Asian markets claiming more than 200 enterprise clients and 13,000 security analyst users.

The Series C round takes the company’s total funding to $65.5m.

The firm previously raised $25m in a Series B led by battery Ventures in May 2014.

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