Rapid7 gets venture capital funding
Specialist vendor get $30m to invest in new security analytics and services offerings
Rapid7, a global provider of security analytics software and services, has announced that it has received $30 million in additional funds from its long-standing investors, Bain Capital and Technology Crossover Ventures (TCV).
The stockholders increased their investment in Rapid7 to enable the company to maximise on the incredible growth opportunity presented by its latest innovative technology and strategic security services, which help customers to radically improve security incident detection and speed response, and build better enterprise security programmes.
"At Rapid7, we design our products and services with a relentless focus on making it easier for enterprise customers and organisations to execute effective security programmes. We believe companies can be successful in security without slowing down their business," said Corey Thomas, president and CEO of Rapid7. "This infusion of funds will enable us to capitalise on the tremendous growth and success we have seen this year by accelerating our leadership, market share, and development in intruder analytics and services, while continuing to innovate to better serve our existing customer base."
According to Rapid7, the past year has been notable for the many high-profile security compromises of well-known and respected companies. In most cases, the attacks were not detected for several weeks or months, enabling the intruders to move through the network and steal a great deal of valuable information. The 15% year-over-year growth in breaches reported last year can be attributed to a combination of factors: risky user and vendor behaviour, prevalent cloud environments, and a remote and extended workforce, the company said in a statement.