Total amount raised
$101.6 Million
Latest funding date
3/1/2022
Location
Balbix has successfully raised significant funding through three rounds, with backing from 14 investors, including Alter Venture Partners and Redline Capital. The company offers an AI-native cyber risk and exposure management platform designed to provide security teams with a real-time view of their attack surface.
Keep reading to explore the intricacies of Balbix's fundraising journey and the investors backing this innovative platform.
What Is Balbix?
Balbix, headquartered in San Jose, California, specializes in AI-native cyber risk and exposure management. The company provides a platform that offers security teams a real-time view of their attack surface, helping to manage and reduce cyber risk.
Founded by Gaurav Banga, Balbix has between 101-250 employees. The company serves various industries, including finance, manufacturing, telecommunications, energy, and healthcare, by offering actionable insights to prioritize and mitigate vulnerabilities.
How Much Funding Has Balbix Raised?
- Series A
- Amount Raised: USD 8,600,000
- Date: June 2017
- Lead Investors: Mayfield Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Series B
- Amount Raised: USD 23,000,000
- Date: June 2018
- Lead Investors: Singtel Innov8
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance platform capabilities.
- Series C
- Amount Raised: USD 70,000,000
- Date: March 2022
- Lead Investors: Redline Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build out go-to-market capabilities and continue engineering investments.
Total Amount Raised: USD 101,600,000. Current Valuation: Not publicly disclosed.
Key Investors
- Redline Capital
- Details: Redline Capital is a venture capital firm that led the Series C funding round for Balbix. They focus on investing in innovative technology companies.
- Investment Focus Areas: Technology, innovation, cybersecurity
- Notable Investments: Balbix
- Singtel Innov8
- Details: Singtel Innov8 is the corporate venture capital arm of the Singtel Group. They invest in companies that can leverage Singtel's assets and market reach.
- Investment Focus Areas: Telecommunications, technology, innovation
- Notable Investments: Not publicly disclosed
- Mayfield Fund
- Details: Mayfield Fund is a venture capital firm that participated in the Series A funding round for Balbix. They focus on early-stage investments in technology companies.
- Investment Focus Areas: Technology, early-stage startups, innovation
- Notable Investments: Not publicly disclosed
- Third Point Ventures
- Details: Third Point Ventures is a venture capital firm that participated as a new investor in the Series C funding round for Balbix. They focus on technology and innovation.
- Investment Focus Areas: Technology, innovation, cybersecurity
- Notable Investments: Not publicly disclosed
- JC2 Ventures
- Details: JC2 Ventures is a venture capital firm that continued its participation as an existing investor in Balbix. They focus on technology and innovation.
- Investment Focus Areas: Technology, innovation, cybersecurity
- Notable Investments: Not publicly disclosed
What's Next for Balbix?
Balbix is poised to capitalize on significant opportunities in the cybersecurity landscape. With a focus on enhancing go-to-market capabilities and engineering investments, the company aims to address critical market needs such as unified asset inventory, SBOM, and vulnerability management. The recent growth in annual recurring revenue and multi-million-dollar deals with Fortune 100 companies highlight the vast potential for expansion.
Future fundraising opportunities seem promising as Balbix continues to attract interest from venture capital firms. The company's growth trajectory and market presence suggest that additional funding rounds could be on the horizon to further bolster its capabilities. However, challenges such as keeping pace with the rapidly evolving cybersecurity landscape and maintaining growth momentum will require strategic planning and execution.
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