RedSeal raises more than $60 million for its cybersecurity tools

[InfoSec News <alerts () infosecnews org>]

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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