Balbix

Balbix provides a platform for managing the state of cybersecurity, a BreachControl that uses specialized artificial intelligence (AI) to continuously and predictively assess the risks of hacking.

History

2022: $70 million investment attraction

In early March 2022, the developer of cybersecurity automation technologies Balbix announced the raising of $70 million as part of the Series C funding round. The funds will be used to expand the company's ability to enter the market and continue investments in engineering developments.

The funding round was led by the Redline Capital Fund (affiliated with AFK Sistema), which was joined by new investors - Third Point Ventures, Nautilus Venture Partners, Modern Venture Partners and Franklin Park, as well as existing investors Mayfield, JC2 Venture Ventures, Capital, and NuB2 Capital

Redline Capital Foundation associated with AFC Sistema invested in American platform for forecasting cyber attacks

Balbix intends to direct investments in meeting market needs in unified asset inventory, software material specification (SBOM), vulnerability management, as well as quantitative assessment of cyber risks and automation of the security system.

{{quote 'Companies of all sizes need the visibility of cyber risks in real time, which is essential for coordination and taking timely measures to reduce risks. Due to its differentiated approach to cybersecurity automation based on artificial intelligence and excellent implementation in reference customers, Balbix has every opportunity to meet these needs. We are happy to go on this trip with them as they continue to expand around the world, said Redline Capital partner Nicholas Giuli. }} The announcement of Series C comes after a rapid 2.5-fold increase in Balbix's annual recurring revenue from in 2021, including four multimillion-dollar deals made with Fortune 100 companies. Other important events in Balbix that investors drew attention to:

• Launch of the industry's first automated solution to quantify cyber risks, allowing organizations to automate quantification of cyber risks in dollars with the ability to track key operational problems and risk owners;
• Increase in the number of new corporate clients by 200 +% in North and South To America,, Asia,, and in To Europe Middle East ; To Africa
• Appointment of a new Revenue Director, Marketing Director, First Head of Sales in Europe and nearly 100% increase in headcount compared to 2020;
• Notable additions to the partner ecosystem, including new integration with AWS and partnership with global MSSP Microland.^[1]

Notes