Cybersecurity specialist UpGuard has raised $17 million in new funding from a group of investors that included a “strategic investment” from Australian insurance giant, IAG. The company, which made its FinDEVr debut last fall in San Francisco as ScriptRock, will use the capital to help grow its CSTAR cybersecurity preparedness-assessment solution, as well as double staff to 120 by early next year. UpGuard co-CEO and cofounder Mike Baukes said that “by providing the tools needed to build resilient information systems, make strategic decisions with real data in real time, as well as obtain cyber insurance should the worst case scenario occur, we equip businesses to start fighting fire with fire.”
Alan Sharp-Paul, cofounder and co-CEO of UpGuard, during his presentation, “Integrity in the Age of DevOps,” at FinDEVr San Francisco 2015.
The Series B was led by new investor Pelion Venture Partners and existing investor Square Peg Capital. All of UpGuard’s other current investors participated in the round as well, which takes the company’s total capital to $27 million. Speaking about the investment, Pelion Ventures Partner Chris Cooper said, “UpGuard’s ability to assess both external and internal risk factors is a huge step forward in understanding the complete security posture of a business.” He also praised CSTAR’s “technical rigor and simplicity” when it comes to helping companies to better manage data-breach risks.
CSTAR provides enterprises with a comprehensive and actionable cybersecurity preparedness score. Similar to the way financial risk is aggregated into credit scores for consumers, CSTAR gives businesses such as ADP, Citrix, and Rackspace a single, wholistic risk metric that still enables them to drill down to the server or device level to spot and remedy potential vulnerabilities. UpGuard believes CSTAR can serve as the basis for a cyber-risk benchmark for businesses and consumers alike, and will explore new opportunities with insurance companies, such as with IAG, to help them better assess their customer’s cyber risks. The company also provides a free external assessment tool for websites.
Founded in Australia and headquartered in San Francisco, UpGuard presented “Integrity in the Age of DevOps” at FinDEVr San Francisco 2015.
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scriptrock.com | scriptrock.com/blog | @scriptrock
ScriptRock is the brainchild of two longtime IT veterans who recognized a common problem inherent in IT and set out to build a solution. The result is a powerful configuration-integrity-monitoring platform in use by companies around the world. Thanks in part to the platform’s flexibility and scalability, ScriptRock has become integral to workflows in high finance, banking, healthcare, retail, and other industries.
Integrity in the age of devOps
The chips have fallen and devOps is here to stay, but many companies are still falling short in testing their infrastructure throughout the development cycle. Automation platforms like Chef and Puppet are great, but they’re not enough to guarantee systems integrity. See why continuous testing can mean the difference between profit and PR disaster.
- Continuous delivery is great, but without proper testing, your project can quickly go off the rails.
- How recent high-profile outages such as the NYSE, Apple’s App Store, and United Airlines could have been prevented.
- Compliance monitoring doesn’t have to be a long, arduous, and expensive process.
Presenter: Alan Sharp-Paul, Co-CEO, Co-founder
LinkedIn | @asharppaul
Sharp-Paul is an experienced veteran of corporate IT, a relentless entrepreneur, and a self-described perfectionist with an emphasis on usability, elegance, and efficiency. As co-founder of ScriptRock, he seeks to solve many of the problems that, until now, have been inherent to IT, and specifically devOps.
FinDEVr Previews highlight companies that will present their latest developer tools, platforms, and integrations at FinDEVr 2015 San Francisco on 6/7 October. Pick up your ticket before Friday, 11 September, and save $100 on an early bird ticket!
ScriptRock provides complete visibility into the configuration state of any IT environment. Any stakeholder—from admin to dev-ops to CIO—can use this information to quickly ensure consistency and compliance, identify misconfigurations, and painlessly scan an entire IT infrastructure for potential vulnerabilities.
Why it’s a must-see
In an era where IT security and stability are critical in finserv, having visibility and validating what you’ve got are key to success. Previously, this task was laborious, tedious, difficult, and sometimes impossible. We’ve built a platform which handles all of it with ease, allowing you to deploy faster and safer than ever before.
Check out more of today’s FinDEVr previews:
- “Trunomi Raises $3 Million to Solve KYC Challenges”
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- Finovate Debuts: “Hip Pocket Generates Qualified Mortgage Leads While Boosting Engagement”
Around the web
- Financial Times quotes Giles Andrews, Zopa executive chairman, in discussion on P2P providers and fee transparency.
- Let’s Talk Payments talks with Stephane Dubois, CEO and founder of Xignite, on the importance of APIs in fintech. See Xignite at FinDEVr 2015 in San Francisco in October.
- iSignthis to provide KYC services to Crownbet Pty starting in 2016.
- TickSmith’s TickVault earns certification on Cloudera Enterprise.
- KPMG and Matchi form alliance to enhance access to financial service innovation.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.