Market Overview

RiskSense Raises $12MM in Series B Funding Round Co-Led by Spring Mountain Capital and NightDragon Security


Industry Luminary Dave DeWalt Joins as Strategic Advisor and UL
Ventures as a Strategic Investor

RiskSense®, Inc.,
the pioneer in intelligent threat and vulnerability prioritization,
today announced it has closed a $12 million Series B round of financing
co-led by Spring Mountain Capital and NightDragon Security, with
participation from UL Ventures, Paladin Capital Group, Sun Mountain
Capital, EPIC Ventures and Jump Capital. The funds will be used to
accelerate growth through sales, marketing and research & development

The RiskSense team has collaborated with the U.S. Department of Defense
and U.S. Intelligence Community on applying artificial intelligence to
cybersecurity problems as part of the CACTUS (Computational Analysis of
Cyber Terrorism against the U.S.) project. Today the RiskSense threat
and vulnerability prioritization platform is used by Global Fortune 500
customers, government agencies as well as one of the largest
telecommunications providers in the world to deliver managed security
services to businesses.

"Spring Mountain Capital invests in companies that are developing
breakthrough technology innovations in high growth markets. RiskSense
stands out in the cyber risk management sector because of its ability to
identify and prioritize security blind spots, so companies can fix what
matters most," said Raymond Wong, Managing Director and Head of Growth
Equity at Spring Mountain Capital. "We love the fact that RiskSense
makes the security tools that companies already have more effective."

Organizations are struggling with what to fix first out of the tens of
thousands of vulnerabilities that could adversely affect their IT
infrastructure. RiskSense provides clear remediation guidance to ensure
that what is fixed actually reduces an organization's overall risk. The
RiskSense Security Score (RS3) provides CISOs and boards clear
visibility into their temporal risk with a simple, credit-like score, as
well as a framework to track and improve security over time.

According to a recent Gartner report: "‘I have 1,000 critical
vulnerabilities, but I can only fix 100 this month. Which 100 do I
is a common question that IT security managers ask
Gartner. In the past, this process has been tedious and time-consuming,
as well as manual and error-prone. Going beyond the capabilities of a VA
(vulnerability assessment) tool, threat and vulnerability management
solutions are designed to support an organization's vulnerability life
cycle management, provide formalized workflow and report collaboration

"I've evaluated hundreds of security companies and what I admire most
about RiskSense is their focus on addressing the one problem every
organization faces – reducing risk by prioritizing the vulnerabilities
that need immediate attention," said Dave DeWalt, Founder of NightDragon
and now a Strategic Advisor to the RiskSense Board of Directors.
"Reducing IT risk is now a board-level topic, and RiskSense provides
CEOs and their boards a solution and framework for reducing risk and
continuously evaluating their risk assessment in business terms."

"This new investment will allow us to take advantage of the enormous
market opportunity for helping customers prioritize their risks. The
funding will provide the resources we need to accelerate our business
momentum and strengthen our technology advantage," said Srinivas
Mukkamala, Ph.D., CEO of RiskSense. "We are pleased to welcome Spring
Mountain Capital to our board. Both Raymond Wong and Dave DeWalt will be
invaluable advisors to our management team."

Recently, the company has been named a finalist in the prestigious SC
Awards in both the US and Europe, chosen as a Top Security Manufacturer
in the United States in the Outstanding Security Performance Awards
(OSPAs), and received a GSN Homeland Security Award and the
Cybersecurity Excellence Award from GDS Review. The company continues to
receive industry recognition for its innovations in intelligence-driven
threat and vulnerability management, risk prioritization and analytics.

RiskSense will demonstrate its cybersecurity threat and vulnerability
prioritization platform this week at Black Hat 2018 booth #L47 in Las

*Gartner, Inc., Security Operations and Vulnerability Management
Primer for 2018
, by Kelly M. Kavanagh, Prateek Bhajanka, 1 February

About Spring Mountain Capital
Founded in 2001 by John L.
(‘Launny") Steffens and located in New York City, Spring Mountain
Capital, LP ("SMC") is a private investment management firm that focuses
on alternative asset investing. SMC's Growth Equity Group provides
expansion stage capital to lower middle market companies that are
capitalizing on breakthrough innovations, paradigm shifts, or
fundamental market or behavioral changes. The Growth Equity Group at SMC
focuses on two sectors of the U.S. economy undergoing the most change
and with the highest growth potential: technology-enabled and healthcare
businesses. Within these high growth areas, it seeks to make value
investments by capitalizing on market dislocations, information
asymmetry illiquidity and complexity. For more information, visit

About NightDragon Security
NightDragon Security is an
investment firm focused on partnering with cybersecurity companies
across the corporate lifecycle, from early stage, to growth, buyouts and
special situations. Its flexible model allows it to lead or co-invest
alongside leading venture capital and private equity firms in the
pursuit of driving growth and maximizing shareholder value. NightDragon
is unique in providing deep operational expertise in cybersecurity
gained by its founders Dave DeWalt and Ken Gonzalez from years serving
as senior executives leading technology companies such as Documentum,
EMC, Siebel Systems (Oracle), McAfee, Mandiant, Avast and FireEye. For
more information please visit

About UL Ventures
UL Ventures works with entrepreneurs and
leading experts to develop solutions that ensure safety, security,
sustainability and interoperability within new fields and technologies.
The Ventures team provides capital, expertise and access to UL
ecosystems so you can pursue innovation. For more information please

About RiskSense
RiskSense®, Inc. is the pioneer
in intelligent threat and vulnerability prioritization. The company
provides enterprises and governments clear visibility across their
entire attack surface, including attack susceptibility and validation,
as well as quantification of risks based on operational data.

The RiskSense Software-as-a-Service (SaaS) platform unifies and
contextualizes internal security intelligence, external threat data and
business criticality to transform cyber risk management into a more
proactive, collaborative, and real-time discipline. It embodies hands-on
expertise gained from defending critical government and commercial
networks against the world's most dangerous cyber adversaries.

By leveraging RiskSense threat and vulnerability management solutions,
organizations significantly shorten time-to-remediation, increase
operational efficiency, strengthen their security programs, heighten
response readiness, reduce costs, and ultimately reduce the attack
surface and minimize cyber risks. For more information, please visit
or follow us on Twitter at @RiskSense.

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