Cybersecurity startup BreachBits has secured seed funding, in a round led by Blu Ventures, to accelerate its efforts to help businesses predict and avoid data breaches at scale.
According to BreachBits, the funds will be used to capitalise on its strong customer growth and accelerate the adoption of its BreachRisk™ solutions.
The funds will also reportedly be utilised to add platform integrations and enhance cyber insurance carriers’ solutions.
John Lundgren, BreachBits CEO and military cyber warfare veteran, commented, “When cyber risk matters to your organization, how you measure that risk matters. “Imagine your business as a house.
“If you need to show the risk of a break-in, you can use satellite images and try to infer what the risk is by counting windows or doors — this is the approach most risk rating providers take today.
Think of our approach as inviting a team of experts to thoroughly test the locks, windows and alarms like a burglar would. With automation and AI, BreachBits performs these assessments continuously or as frequently as you need accurate results.”
J. Foster Davis, BreachBits COO and former Adjunct Professor of Cybersecurity at the U.S. Naval Academy, said, “Our method of using automated penetration testing to measure risk has resonated with customers.
“When they make changes that defeat the testing from our BreachRisk™ platform, they appreciate being able to see their ratings improve and getting credit for those security investments.”
PK Malhotra, Principal at Blu Ventures, added, “It’s been exciting to see their automated penetration testing platform democratize access to what was once a very manual, expensive and time-consuming service. We’ve heard first-hand how easy and valuable it is for their customers, and we are proud to support BreachBits in its next phase of development.”
