RiskIQ nabs $10 million from Summit Partners to help companies stay secure in the cloud

RiskIQ nabs $10 million from Summit Partners to help companies stay secure in the cloud

Web and mobile security company RiskIQ has announced a $10m Series A round from equity firm Summit Partners.

RiskIQ specializes in providing support for companies concerned about malvertisements and malware, brand and trademark protection, and mobile/Web app security. It claims to serve “many” Fortune 500 companies.

Today’s round constitutes the first “institutional” funding accepted by RiskIQ, a company founded out of San Francisco back in 2009. It says it will use the cash bounty to accelerate and expand the development of its various security products, build its global footprint while investing in sales, marketing, and other business development activities.

RiskIQ’s technology essentially monitors third-party websites and applications, and alerts its customers to any potential threats.

“As our success to date has proven, enterprises of all types are concerned about the changing threat environment,” explains Elias Manousos, Chief Executive Officer and co-founder of RiskIQ.

“Many of their most valuable digital assets lie outside company firewalls where hackers can perpetrate fraud or steal confidential data,” he continues. “This major capital infusion from Summit Partners will allow us to continue accelerating the pace of innovation with our proprietary approach to web and mobile security, while expanding our global customer base.”

With more and more companies shifting away from in-house systems to the cloud, companies such as RiskIQ will increasingly find themselves in high-demand, with corporations eager to steer clear of malware, phishing, spam and other scams.

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