BitSight Technologies, a Massachusetts-based firm that develops data analytics software, has received USD24m in a Series A funding round from Globespan Capital Partners, Menlo Ventures, Flybridge Capital Partners and Commonwealth Capital Partners.
BitSight Technologies, which launched in 2010, uses big data analytics to provide risk assessments and is currently developing its first product for public release. BitSight Technologies will use the new funding to further product development.
“We are excited to bring a new evidence based approach to quantifying security risks while providing our customers with actionable insight to quickly respond to emerging data security threats,” said Shaun McConnon, CEO, BitSight Technologies. “With this financing, BitSight is well positioned to drive innovation in the security risk management market. We are continuing to hire the best people in their fields of expertise to enhance BitSight’s innovative platform.”
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