AttackIQ Raises $17.6 Million in Series B Funding Round

AttackIQ, a California-based company that specializes in continuous security validation, on Wednesday announced that it raised $17.6 million in a Series B funding round, which brings the total raised by the firm to roughly $35 million.

The latest funding round was led by Khosla Ventures, with participation from existing investors Index Ventures, Salesforce Ventures and Telstra Ventures. The money will be used to continue development of its platform, hire more people, and expand field operations.

The AttackIQ platform is designed to help organizations ensure that their security controls, processes and employees work as intended and efficiently. The solution can quickly identify misconfigurations and blind spots, and it can help prioritize remediation efforts.

“AttackIQ is on a mission to fix enterprise security,” said Brett Galloway, CEO of AttackIQ. “We believe that security matters very deeply. A successful cyber attack on critical infrastructure would be devastating. Yet the effectiveness of enterprise security controls is often poor. The missing ingredient is systematic feedback on effectiveness. The best way to deliver this feedback is to emulate attacker behavior and see what the security controls do – or, all too frequently, what they don’t do. AttackIQ provides enterprises the information necessary to move from security guesswork to successfully managing the cybersecurity risks that they face, both today and into the future.”

AttackIQ announced the latest funding round just as competitor Verodin was acquired by FireEye in a deal valued at roughly $250 million in cash and stock.

It is possible that we will see more companies specializing in cybersecurity effectiveness testing getting acquired, similar to what has been happening in the SOAR (Security Orchestration, Automation and Response) space, where companies such as Demisto and Phantom Cyber have been acquired for significant amounts of money.

Related: Guardicore Raises $60 Million in Series C Funding

Related: Cequence Security Secures $17 Million in Series B Funding

Related: Siemplify Raises $30 Million in Series C Funding

Related: KnowBe4 Announces New Funding Round at $800 Million Valuation

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

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