Total amount raised
$101.6 Millions
Latest funding date
3/1/2022
Location
Balbix has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform leverages AI and automation to help organizations manage their cybersecurity posture and reduce breach risks.
Keep reading to explore the intricacies of Balbix's fundraising journey and the investors backing this innovative platform.
What Is Balbix?
Founded in 2015 by Gaurav Banga, Balbix is headquartered in San Jose, California. The company specializes in AI-powered cybersecurity posture automation, helping organizations reduce their cyber risk.
Balbix offers solutions for inventorying cloud and on-prem assets, risk-based vulnerability management, and quantifying cyber risk in monetary terms. Their platform is trusted by many Global 2000 organizations.
With a team of 101-250 employees, Balbix continues to innovate in the field of cyber risk and exposure management, leveraging AI to transform cybersecurity postures.
How Much Funding Has Balbix Raised?
- Series A
- Amount Raised: $8.6M
- Date: June 2017
- Lead Investors: Mayfield Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their AI-powered cybersecurity platform.
- Series B
- Amount Raised: $23M
- Date: June 2018
- Lead Investors: Singtel Innov8
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and enhance product capabilities.
- Series C
- Amount Raised: $70M
- 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: $101.6M. Current Valuation: Not publicly disclosed.
Key Investors
- Redline Capital
- Details: Redline Capital is a venture capital firm that focuses on investing in high-growth technology companies. They have a global presence and a strong track record in supporting innovative startups.
- Investment Focus Areas: Technology, AI, Cybersecurity
- Notable Investments: Balbix, DataRobot, SentinelOne
- Singtel Innov8
- Details: Singtel Innov8 is the corporate venture capital arm of the Singtel Group, one of Asia's leading communications technology companies. They invest in startups that align with Singtel's strategic interests.
- Investment Focus Areas: Telecommunications, Cybersecurity, AI
- Notable Investments: Balbix, Shape Security, Arista Networks
- Mayfield Fund
- Details: Mayfield Fund is a venture capital firm with a long history of investing in early-stage technology companies. They focus on partnering with entrepreneurs to build impactful companies.
- Investment Focus Areas: Enterprise Software, Consumer, Health IT
- Notable Investments: Balbix, Lyft, SolarCity
- Third Point Ventures
- Details: Third Point Ventures is the venture capital arm of Third Point LLC, a New York-based investment firm. They invest in technology companies at various stages of growth.
- Investment Focus Areas: Technology, AI, Fintech
- Notable Investments: Balbix, SentinelOne, Upstart
- Mubadala Capital
- Details: Mubadala Capital is the financial investment arm of Mubadala Investment Company, a sovereign wealth fund based in Abu Dhabi. They manage a diverse portfolio of global investments.
- Investment Focus Areas: Technology, Healthcare, Energy
- Notable Investments: Balbix, Waymo, SpaceX
What's Next for Balbix?
Balbix stands at the cusp of significant growth, driven by the increasing demand for cybersecurity solutions. With a focus on enhancing go-to-market capabilities and engineering investments, the company is well-positioned to address market needs in areas like unified asset inventory and vulnerability management. The recent growth in annual recurring revenue and multi-million-dollar deals with Fortune 100 companies underscore the vast opportunities ahead.
Future fundraising seems promising, given the successful Series C round and the involvement of high-profile investors. However, Balbix will need to navigate the rapidly evolving cybersecurity landscape, maintain growth momentum, and effectively integrate new technologies and partnerships to sustain its trajectory.
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