Cybersecurity startup Kenna Security secures $48 million to help organizations predict and prevent future cyber attacks using risk-based vulnerability management
As the number and sophistication of cyber threats continues to increase exponentially, it is becoming increasing difficult to protecting an organization from threats. Protecting organization’s critical assets is not the only challenge facing security professionals, knowing which vulnerabilities pose the greatest risk among millions of vulnerabilities is what is keeping security executives awake at night. Enter Kenna Security, a predictive cybersecurity startup that uses data science to deliver risk-based vulnerability management across your infrastructure and applications.
Today, Kenna Security announced it has raised $48 million series D funding round to accelerate its international expansion and drive further innovation that helps companies better manage their overwhelming cybersecurity challenges through data science. Backers include new investors Sorenson Capital and Citi Ventures. They were joined by existing investors, including Bessemer Venture Partners, U.S. Venture Partners, Costanoa Ventures, Hyde Park Angels, and OurCrowd. The investment brings Kenna’s total raised to $98 million. In conjunction with the funding, Kenna also announced that Ken Elefant, Managing Director of Sorenson Capital will join its board of directors.
Founded in 2010 by Ed Bellis and Jeff Heuer, the San Francisco, California-base 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.
“This round of funding demonstrates significant confidence in Kenna’s continued growth potential as the global market for risk-based vulnerability management expands,” said Karim Toubba, CEO of Kenna Security. “Kenna will continue to accelerate its international expansion and drive further innovation that helps companies better manage their overwhelming cybersecurity challenges through data science.”
Kenna’s existing investors, including Bessemer Venture Partners, U.S. Venture Partners, Costanoa Ventures, Hyde Park Angels, and OurCrowd, joined the funding round.
“Kenna Security has led risk-based vulnerability management and is the first company to bring truly predictive and proactive capabilities to this market,” said Elefant. “We’ve been impressed with their extensive client portfolio and pioneering technology. Our investment will help position the company for the next stage of its global growth.”
The pressure to digitally transform businesses, coupled with a tech stack of ever increasing complexity have created such a deluge of data that it is simply impossible for any organization to ensure 100% coverage of its attack surface. Yet research shows that only 5% of vulnerabilities in an enterprise have exploits developed against them.
It’s clear that effective security depends on quickly determining which vulnerabilities warrant action and which of those have highest priority, but prioritization remains one of the biggest challenges in vulnerability management. Kenna Security has solved this challenge using data science and machine learning to prioritize vulnerabilities based on risk and to reduce the average time to patch the riskiest vulnerabilities by more than 40 days compared to other strategies.
Kenna has grown revenue by more than 1000 percent over three years. It introduced groundbreaking technology, such as the industry’s first vulnerability exploit prediction and peer benchmarking capabilities, and was granted a patent for truly predictive vulnerability management.