Enterprise security company Balbix raises $20 million Series B round to boost its operations

  • General
  • June 28, 2018
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  • 3 minutes read

image credit : Balbix

Silicon Valley based security startup Balbix which offers cybersecurity software to various enterprises through its suite of products has just raised a $20 million Series B investment round led by Singaporean based Singtel Innov8 and also saw participation from Abu Dhabi owned Mubadala Investment Company, Mayfield Fund and also former Cisco CEO and Chairman John T. Chambers amongst other investors.

With these investment, Balbix which offers software making use of predictions to measure and assess threats will expand its “go-to-market strategy” and put more resources into scaling its platform which provides enterprise scale cybersecurity services for various companies.

Along with this investment, Singtel Innov8”s managing director Jeff Karras will be joining the company’s board along with the addition of two other members and also the hiring of a new Chief Revenue Officer and a vice president of business development and alliances for the comapny.

Commenting of this funding round is former Cisco CEO and Chairman John Chambers which led the networking technology giant for 20 years stating “Balbix is taking a game-changing approach to address the most fundamental cybersecurity challenges of today, including the ever-increasing volume and complexity of major breaches,” He further continued “Cybersecurity threats are evolving faster than we could have ever imagined, and Balbix is a true leader in the space with their innovative approach to improving cyber-resilience.”

This investment represents a good boost for the company which just launched out of stealth one year ago and has raised a total of $28.6 million to kick off its operations.

The SF based company is now scheduled to grow rapidly as it provides its software to several companies and gain market share in the highly competitive and innovation-demanding Enterprise Security market.

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