UpGuard raises $17M in Series B

What does UpGuard do?

UpGuard, is the company whose proprietary tech tests an organizations IT infrastructure externally and internally and calculates the potential risk for future outages and intrusions. This company is the world’s only actionable and comprehensive cybersecurity preparedness score for enterprises. It is the company behind CSTAR. Many companies including Cisco Systems, ADP and E*TRADE, use this platform for validating infrastructure ure, constantly detect risks and procuring cybersecurity insurance.

How much UpGuard was funded?

UpGuard has raised $17M in Series B on August 11, 2016 from Square Peg Capital and Pelion Venture Partners.

Previous funding

$45k on January 1, 2012 from StartMate

$1.2M on June 1, 2012 from Square Peg Capital, 500 Startups, Starfish Ventures, Scott Petry, Valar Ventures, Larry Marshall, Anthony Marcar, Alan Jones and Mark Jung

Undisclosed amount on June 1, 2012 from Citrix Startup Accelerator

$8.73M in Series A on August 14, 2014 from August Capital, Square Peg Capital, Valar Ventures and Scott Petry

What is next for UpGuard?

The company plans on using the funding for fueling an aggressive growth strategy centered on increasing adoption of its cybersecurity assessment score, and exploring insurance chances. The company aims at becoming the cyber risk benchmark for insurance providers, companies and consumers in the same way. The company is on track to be the 1st for bringing standardization for a deeply fragmented and disorganized space. The company has the smarts, resources, and the strategic partnerships for establishing a market wide cyber risk benchmark which will completely transform modern businesses and driving down the number of breach headlines.

More about UpGuard

UpGuard was founded on January 21, 2012 by Leo Venegas, Alan Sharp-Paul and Mike Baukes. It has its headquarters in San Francisco, CA. The company has office in Portland, OR. This is the company behind CSTAR. The score enables businesses in understanding the risk of unplanned outages and breaches due to software vulnerablities and misconfigurations.