Addison’s Safety Evaluation Agency Invests $ 24 Million From Capital One Ventures
Addison-based safety analytics agency Securonix Inc. secures a $ 24 million funding from the enterprise capital arm of economic companies big Capital One.
Securonix mentioned on Wednesday it will use the capital so as to add as much as 200 workers this yr for its cloud-based platform that screens and protects towards cyber assaults, fraud and different safety dangers. Many of the new workers will likely be in Addison, in response to the corporate.
The corporate, which at this time has round 600 workers, was based in 2010 by CEO Sachin Nayyar and CTO Tanuj Gulati. They beforehand ran id compliance firm VAAU, which Solar Microsystems acquired in 2007. Nayyar then served as Solar Microsystems’ chief id strategist for its safety portfolio.
Securonix rose with $ 41 million raised in funding rounds in 2017 and 2019, in response to Crunchbase, which tracks cash flows to rising tech corporations. The personal firm just isn’t disclosing its funds, however mentioned its annual recurring income elevated 55% final yr in comparison with 2019.
Its consumer listing consists of 5 of the world’s Fortune 10 corporations, 4 of the biggest oil and fuel corporations and massive names within the telecommunications, automotive and airline industries, in response to the corporate.
“Capital One has skilled unprecedented success in executing a cloud-driven technique to rise to the highest of its trade and is a perfect associate for us to strengthen our management place in analytics and operations. cloud-native safety, ”Nayyar mentioned in an announcement.
Capital One Ventures is among the largest gamers within the monetary companies trade, with investments in dozens of corporations creating information, funds and safety applied sciences. One among its companions, Jay Emmanuel, will be part of the Securonix board of administrators as an observer.
“We’re very selective and strategic in selecting the portfolio corporations that outline the way forward for cloud companies,” mentioned Emmanuel. “We perceive the large market alternative for Securonix as companies are more and more uncovered to the challenges of securing digital programs and companies in advanced cloud and distributed environments.”
In a latest survey of 200 managers, administrators, and senior executives in IT and cybersecurity roles at U.S. corporations, Malwarebytes recognized new safety dangers for companies with workers working from house. One in 4 individuals mentioned their enterprise paid surprising bills to deal with a cybersecurity breach or malware assault following shelter-in-place orders.