Kenna Security Secures $25 Million in Series C Funding Led by Bessemer Venture Partners
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San Francisco, March 27, 2018 – Kenna Security, a leader in predictive cyber risk, announced today that it has secured $25 million in Series C funding. Bessemer Venture Partners led the round, with participation from U.S. Venture Partners, Costanoa Ventures, PeakSpan Capital, Hyde Park Angels and OurCrowd. Alex Ferrara, partner at Bessemer Venture Partners, will join Kenna’s board of directors.
“Strong market demand has validated Kenna’s risk-based approach to vulnerability management with CISOs, security teams, and IT operations staff leveraging Kenna’s machine learning and data science to proactively manage cyber risk,” said Karim Toubba, CEO of Kenna Security. “Kenna sees a world where teams work in collaboration to quickly and easily measure risk, prioritize remediation, and make a substantive difference in efficacy across the global attack surface and this investment is an endorsement of what we have achieved and our vision for the future.”
“Kenna is pioneering a new category of enterprise security to solve a pain point that is high on the priority list for CISOs, Security, and IT Ops teams, and we believe that Kenna is best situated to maintain its lead in the emerging vulnerability prioritization market,” said Alex Ferrara, partner at Bessemer Venture Partners and member of the board of directors at Kenna Security. “Kenna’s risk-based approach offers customers a way to cut through the volumes of data and threat reports to get to actionable information. We’re excited to invest and support Kenna as they transform the way that enterprises align around cyber risk.”
One of the first venture firms to invest in cyber security startups, Bessemer has invested in more than 45 leading cyber security startups over the past two decades. Recent successful cyber security investments include: LifeLock (acquired by Symantec), Postini (acquired by Google), Tripwire (acquired by Belden), iSight (acquired by FireEye).
As organizations shift to a risk-based approach to vulnerability management, many of the world’s most trusted brands have turned to Kenna Security, including elite members of the Fortune 100, to manage cyber risk at scale, preparing them to confront the volume and diversity of contemporary cyber threats. For the third year in a row, Kenna’s sales more than doubled in 2017 and the number of organizations using the Kenna Security Platform grew by more than 60 percent to more than 300 customers worldwide. Other milestones for Kenna in 2017 include the launch of its EMEA business with a new head of sales and partnerships and new staff in the UK and a significant increase in Kenna’s go-to-market and branding capabilities. Kenna more than doubled its employee headcount in 2017 and continues to add key personnel to grow the company.
This round brings Kenna’s total funding to $50 million.
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) invests in early-stage, hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, Cambridge, New York, Bangalore, Herzliya and Sao Paulo. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like Pinterest, Twilio, Box, LinkedIn, Shopify, Yelp, Skype and CornerstoneOnDemand. Over 100 BVP companies have gone public-in the last three years alone, BVP has had 36 exits (IPO and M&A) and made new investments in more than 70 companies. Learn more at www.bvp.com and follow us on Twitter @BessemerVP.
About Kenna Security
Kenna Security is a leader in predictive cyber risk. The Kenna Security Platform enables organizations to work cross-functionally to determine and remediate cyber risks. Kenna leverages Cyber Risk Context Technology™ to track and predict real-world exploitations, focusing security teams on what matters most. Headquartered in San Francisco, Kenna counts among its customers many Fortune 100 companies, and serves nearly every major vertical. For more information, visit kennasecurity.com. Follow us on Facebook, Twitter, and LinkedIn.
Bessemer Venture Partners