Ballistic Ventures Leads Round; Former Mandiant CEO Kevin Mandia Joins Board of Directors

SAN FRANCISCO: BreachRx, provider of the first intelligent incident response platform designed for the entire enterprise, today announced the closing of an oversubscribed $15 million Series A funding round led by Ballistic Ventures, with participation from SYN Ventures, Overline, and Silver Buckshot Ventures. The company also announced the appointments of Ballistic Ventures General Partner and former Mandiant CEO Kevin Mandia to the Board of Directors, and best-selling author and former New York Times lead cybersecurity reporter Nicole Perlroth as Board Observer. The investment brings the company’s total funding raised to over $23 million.

The BreachRx platform is a secure, central workspace for every stakeholder across an organization to coordinate and streamline cybersecurity incident response management. It enables real-time, cross-functional collaboration by clearly defining roles, responsibilities, and timelines, ensuring every team member knows exactly what to do and when to do it. The platform reduces costs and increases efficiency by automating the creation of tailored playbooks for any type of incident and reports to track and measure response outcomes for Boards, auditors, and regulators.

“The most forward-thinking CISOs understand that cyberattacks and breaches are events that companies must manage with effective command and control,” said Kevin Mandia. “Every company should consider how to prepare for and manage through a cyber incident – and BreachRx empowers companies to both plan and execute through cyber events in a manner that promotes far more effectiveness and resilience.”

The oversubscribed round follows a year in which BreachRx achieved more than 3x year-over-year annual recurring revenue (ARR) growth for the second consecutive year. The company currently has more than 100 customers, including numerous publicly traded and Fortune 500 companies in the financial services, technology, healthcare, and critical infrastructure markets. It plans to use the new funding to scale its go-to-market and engineering teams to accelerate adoption and innovation.

“From founding the company that the Fortune 500 have on speed-dial when they have a breach to expertly leading his own company through one of the most high-profile breaches in history, Kevin knows better than anyone the importance of transparency, speed and precision in the response process,” said Andy Lunsford, CEO and co-founder at BreachRx. “His experience and knowledge of how organizations should prepare for and operate cross-functionally in response to cyber events, coupled with Nicole’s perspective from reporting on major cyberattacks, are invaluable as we execute our next phase of growth.”

“I can tell you firsthand: breached organizations aren't judged by how well they managed their security defenses — they're judged by their customers on how they managed the communications around their security incident," said Nicole Perlroth. "BreachRx is the first incident response platform built for the messy, high-stakes reality of cyber incidents today. It delivers clarity, cross-functional coordination, privileged communication channels and audit trails. With dynamic playbooks and streamlined tasking, BreachRx enables teams to focus on the real threat — advancing adversaries — instead of scrambling over internal liability and confusion. It's a privilege to work with the BreachRx team.”

For more insight on what this funding means for BreachRx and the industry, please read the blog post by the BreachRx co-founders, Andy Lunsford and Matt Hartley. For more information on BreachRx or to schedule a demo, please visit www.breachrx.com.

About BreachRx

BreachRx is the first intelligent incident response platform that provides operational resilience for the entire enterprise. Its patented technology brings order to the chaos before, during, and after incidents by automatically generating tailored incident response plans and providing targeted guidance to relevant stakeholders through every step of the process. Integrated privileged communication channels and audit trails ensure compliance with rapidly evolving standards and proactively protect CISOs and executive leadership from personal liability. BreachRx is based in San Francisco and is backed by Ballistic Ventures and SYN Ventures.

Fonte: Business Wire