Black Kite, a Boston-based cybersecurity startup, has raised $ 22 million in Series B funding to meet the growing demand for cybersecurity solutions.
The round of financing led by Volition Capital brings the total collection started in 2019 to more than $ 33 million. Existing investors Moore Strategic Ventures, LLC (MSV), Glasswing Ventures and Data Point Capital also participated. Sean Cantwell, senior partner at Volition Capital. He referred to the company’s participation by stating:
“Third-party cyber risk management is an ongoing and growing concern for organizations in all industries, and solutions that effectively mitigate these risks have great growth potential. Black Kite’s unique approach based on supply chain risk assessment standards has enabled significant growth and traction in the market along with a strong management team. Being a long-time investor in the supply chain compliance and security software business, we believe that Black Kite is well positioned to be a leader in the tertiary cyber risk platform category. “
The Black Comet was created in 2016 with a mission to revolutionize third-party risk management (TPRM). Focusing on entrance tests from a black hat perspective, the startup has developed a platform that raises cybersecurity from a technical, financial, and compliance perspective. Paul Paget, CEO of Black Kite, said:
“Ransomware risk for supply chains and critical infrastructure providers can alleviate a clear and real-time view of threats and vulnerabilities between organizations and their business partners.”
The platform developed at the startup has been taken over by more than 300 customers around the world, allowing them to assess cyber risks quickly and cost-effectively. The new funding will be used by the startup to boost its marketing, customer success, channels and strategic partnerships so that it can sustain a 100% increase in the number of users and employees over the past year.
It remains cybercrime more and more Relevant to organizations around the world, the demand for cybersecurity solutions that protect against ransomware, Distributed Denial of Service (DDoS), corporate espionage, and other types of cyberattacks continue to rise. Black Kite intends to respond to that request while keeping the platform up to date security practices to facilitate the closure of critical security gaps.