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RedSeal raises more than $60 million for its cybersecurity tools
From: InfoSec News <alerts () infosecnews org>
Date: Thu, 11 Apr 2019 09:06:19 +0000 (UTC)
https://venturebeat.com/2019/04/10/redseal-raises-more-than-60-million-for-its-cybersecurity-tools/ By Kyle Wiggers Venture Beat April 10, 2019 RedSeal, a 15-year-old San Jose, California-based startup developing cyber risk modeling software for hybrid cloud environments, today announced a growth equity investment from Symphony Technology Group (STG), a private equity firm based in Palo Alto. It didn’t disclose the exact amount, but said that it’s a 70 percent majority stake, and that it brings RedSeal’s total raised to date to $142 million. (Previous funding rounds totaled about $77 million, according to Crunchbase.) That puts it somewhere north of $60 million. RedSeal CEO and chairman Ray Rothrock said the infusion will be used to “support” growth, which has accelerated pretty dramatically over the past year. The company now counts more than 220 Global 2000 corporations and mission-critical government agencies in North America, Europe, and Asia among its customer base, including power grid companies, financial institutions, and all branches of the U.S. military. “We have found a growth partner in STG,” he said. “They are aligned with our digital resilience strategy, and the enormous value that understanding your cyber terrain has on driving down your cybersecurity risks and exposure. STG’s collaboration and investment will help us further strengthen our position in the industry, expand and pursue growth opportunities, and drive increasing value to our customers.” [...]
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