CHICAGO – Oct. 14, 2014 – Risk I/O, the leading vulnerability threat management platform, announced today that it has appointed Karim Toubba as chief executive officer. Ed Bellis, Risk I/O Co-Founder and CEO, will continue to be involved in the day-to-day operations of Risk I/O.
“Risk I/O is growing dramatically, and Karim brings the perfect mix of security knowledge, product strategy and sales expertise to help usher the company through the next phase of its expansion,” said Bellis. “Karim has an incredible track record of building highly successful businesses in competitive market segments. His experience will be a tremendous asset as we focus more heavily on sales and marketing to meet demand for our platform. He has a clear vision for the future of the company and I look forward to working closely with him to expand our reach and further innovate on our core technology.”
Toubba brings nearly twenty years of experience in technology and information security to Risk I/O. He most recently served as Vice President of Global Security Channels at Juniper Networks. Prior to that he drove the turnaround of Juniper’s billion-dollar security business unit as Vice President of Products and Strategy. He has also held executive positions at Ingrian Networks ahead of its acquisition by SafeNet, Inc., and Digital Island before its acquisition by Cable and Wireless.
“Risk I/O is solving a very real problem facing CISOs today – the need for a clear view of where they are most vulnerable and exposed. Before Risk I/O, it was essentially impossible to identify where attacks are most likely to occur,” said Toubba. “The team has built a sophisticated, easy-to-use platform that delivers immediate value to enterprise users. The company has gained some incredible momentum over the last three years, and I’m excited to join Risk I/O at such a pivotal time in its growth.”
Risk I/O Extends Series A to Capitalize on Momentum
New financing highlights demand for data-driven security intelligence
CHICAGO – Oct. 14, 2014 – Risk I/O, the leading vulnerability threat management platform, announced today that it has raised an additional $4 million as part of its Series A financing round, bringing the company’s total capital raised to $10.5 million. The financing was led by existing investor Costanoa Venture Capital, with participation from current investors U.S. Venture Partners (USVP), Tugboat Ventures and Hyde Park Angels. Neill Occhiogrosso, Partner at Costanoa Venture Capital, will join the company’s board of directors.
Risk I/O will use the financing to expand sales and marketing efforts to meet demand from organizations that require better visibility into where they are most susceptible to cyber attack.
“Security is one of the biggest generators of data in the enterprise, yet CISOs have very few tools to help them understand and make use of that data. Heartbleed and Shellshock offer sobering examples of how widespread and potentially devastating a single vulnerability can be, yet it is incredibly difficult for any security team to identify and address every vulnerability that comes into their organization,” said Risk I/O CEO, Karim Toubba. “Risk I/O tackles this data challenge head on. It would take 475,000 security analysts to process as much security data as Risk I/O does in a single day. By connecting the dots between vulnerability data, threat and attack data, we are able to give companies a clear view of where they are most likely to be attacked so they can prioritize remediation quickly and efficiently.”
Risk I/O processes over 2.5 billion security vulnerabilities each day via its SaaS analytics platform, matching vulnerability scan data with Internet breach traffic from threat intelligence feeds from Dell, Verisign, AlienVault and others, to prioritize the vulnerabilities that pose the greatest threat to a company’s environment and predict where an attack is most likely to occur.
The new financing comes on the heels of a record year for Risk I/O. The company has tripled its year-over-year bookings and its customer base has grown exponentially year-over-year. Additionally, the company expanded its technology offering with the introduction of two new features, Threat Trends and Risk Meter. Threat Trends delivers visualization and analysis of the volume of cyber attacks happening in real-time, while Risk Meter provides real-time view of the vulnerability and exploit risk a group of assets poses to an organization. The company also recently announced a robust integration with Dell Secureworks, which has exponentially increased the company’s growing customer base.
“We look for companies that are building data-driven applications using machine learning and predictive analytics to tackle a significant technical or business problem, and Risk I/O is a great example of that kind of company,” said Occhiogrosso. “Risk I/O offers unprecedented visibility into an organization’s risk posture and the ability to foresee potential attack. The power of the analytics platform has led to its rapid adoption by Fortune 100 companies and more.”