Security ratings firm SecurityScorecard Inc. today said it has raised $180 million in new funding to accelerate its growth through new product lines, global expansion, a broadening partner ecosystem and additional functionality to assess and mitigate cybersecurity risk.

The Series E round included Silver Lake Waterman, funds and accounts advised by T. Rowe Price Associates, Kayne Anderson Rudnick, Fitch Ventures, Evolution Equity Partners, Accomplice, Riverwood Capital, Intel Capital, NGP Capital, AXA Venture Partners, GV (Google Ventures) and Boldstart Ventures.

Founded in 2013, SecurityScorecard offers ratings of security risks for organizations. Offered with a custom-built software-as-a-service platform, SecurityScorecard helps enterprises gain operational command of their security posture and, in the age of third-party hacks, that of their partners and vendors as well.

SecurityScorecard’s platform provides continuous monitoring with a range of critical data points the company claims are not available from any other service provider. At its core, the platform displays the weaknesses that an attacker would see when scouting for potential attack vectors.

Since it last raised $50 million in 2019, SecurityScorecard said, it has become the market-leading platform for security ratings. It’s used globally by thousands of companies, including seven of the top 10 pharmaceutical companies, four of the top payment processors and more than 10 of the world’s top insurance companies. Notable customers include Nokia Corp., Liberty Mutual Group, AXA S.A., Maxiums Inc., Modulr Finance Ltd. and Truphone Ltd.

SecurityScorecard claims to monitor nearly 2 million organizations daily with its web-scale architecture that supports ubiquitous distribution of its ratings. Further still, the company says it’s on track to rate more than 20 million organizations by the end of 2021.

The growth can also be seen in SecurityScorecard’s financial figures. It reports a 61% rise in fourth-quarter revenue, though on an undisclosed base, and international customer growth of 89%.

“With the increasing number of breaches, cybersecurity ratings are a must-have for organizations to make critical business decisions,” Dr. Aleksandr Yampolskiy, SecurityScorecard’s co-founder and chief executive, said in statement. “We have seen a fundamental shift in budgets to cybersecurity ratings and have passed the tipping point where the depth of our data and network effects are driving broad market adoption.”

Including the new funding, SecurityScorecard had raised $292.2 million to date, according to data from Crunchbase.

Image: SecurityScorecard