Cybersecurity / Funding / Investing

Two months after official launch, Verodin announces $10 million Series A

The startup helps companies assess whether their cybersecurity is actually working.

Verodin is kind of like security for your security. (Photo by Flickr user, used under a Creative Commons license)

Reston-based security startup Verodin announced on Tuesday that the company has raised $10 million in Series A financing. Investors in the round include Blackstone, Rally Ventures, Crosslink Capital and Cisco Investments.
The announcement comes just two months after Verodin officially launched its concept of “instrumented security” from stealth mode in April. The question Verodin’s software seeks to answer is very simple: Is your cybersecurity working?
In an age where high-profile hacks dominate headlines, this is a very valuable question. And not just for a company’s security team — this information is increasingly valuable for C-suite executives who hold the purse strings on further investment in cybertech. In conversation with in April, Verodin CEO Christopher Key put it this way: “If you’re interested in the effectiveness of the dollars spent on security, you’ll be interested in this.”
And indeed this round of funding shows the concept is catching the attention of a variety of high-profile cyber investors.
“Verodin’s unique focus on proving where security measures are truly effective is a disruptive new offering in the cybersecurity space,” Blackstone Chief Information Security Officer (CISO) Jay Leek said in a statement. “CISOs shouldn’t have to assume. They need to know how their people, processes and technology will perform when attacked, and Verodin’s platform makes that possible.”
According to a press release the round will “accelerate Verodin’s market growth.”

Companies: Verodin

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