Risk-based vulnerability cybersecurity startup Kenna Security Inc. today said it has raised $48 million in new funding to accelerate its international expansion and drive product development.
The Series D round included Sorenson Capital and Citi Ventures as new investors, with previous investors Bessemer Venture Partners, U.S. Venture Partners, Costanoa Ventures, Hyde Park Angels and OurCrowd also participating. As part of the deal, Ken Elefant, managing director of Sorenson Capital is joining Kenna Security’s board of directors.
Founded in 2010, Kenna Security offers a risk intelligence and vulnerability platform designed to allow InfoSec teams to prioritize and remediate vulnerabilities faster. Using its patented “Cyber Risk Context Technology,” Kenna Security is designed to predict “real-world exploitations.”
Under the hood, the company’s platform uses data science and machine learning to prioritize vulnerabilities based on risk and is claimed to reduce the average time required to patch vulnerabilities by more than 40 days compared with other strategies.
As noted in 2016 when it raised $15 million in funding, Kenna Security displays its findings in a graphical dashboard that enables security professionals to find and the most urgent problems first. Even if a company doesn’t have the staff to plug every single exploit discovered by the platform, addressing the most significant threats on its network can still significantly lower the risk of hacking.
Kenna’s Security’s vulnerability risk intelligence offering is integrated into VMware’s AppDefense as part of the VMware vSphere Platinum offering.
In a statement, the company said that it has grown by more than 1,000% over three years, though it didn’t provide absolute numbers. Customers include TransUnion, Lear Corp., Fannie Mae, Dow Jones Inc., Hanes Brands Inc. and FICO.
“Kenna Security has led risk-based vulnerability management and is the first company to bring truly predictive and proactive capabilities to this market,” Elefant said. “We’ve been impressed with their extensive client portfolio and pioneering technology.”