Panaseer gobbles up new funding
Panaseer, a cyber security data analytics company, today announces that it has raised $3.25m in further funding from existing investors Albion Ventures, Notion Capital, and Winton Ventures and new investors Paladin Capital Group and Evolution Equity Partners. The new raise brings total investment into Panaseer to $5.6 million.
Panaseer offers a big data analytics software platform designed to automate identification, measurement, communication, and mitigation of cyber
Panaseer raised $2.25m in 2015 through a syndicated seed investment round. This new investment from Paladin Capital Group and Evolution Equity Partners – two established and globally focused private equity firms with deep expertise in cyber security – along with the continued support from Panaseer’s existing investors, further validates Panaseer’s product proposition, business model, and execution ability.
Nik Whitfield, CEO, Panaseer: “We are delighted to welcome Paladin Capital Group and Evolution Equity Partners to our shareholder team and by the continued strong support we have received from our existing shareholders.
“This investment is also further validation of a major, unaddressed market problem that enterprises have too much data and too little insight into their cyber security hygiene. Longer term, it also supports our belief that organisations will turn to a single, consolidated knowledge platform for all their cyber security insight needs. By closing this funding with our new and existing shareholder partners, we can drive our strategic aims by enhancing Panaseer’s access to the US and European markets and complete our mission to solve business problems through deep cyber security domain and technology expertise.”
Richard Seewald, founder and managing partner, Evolution Equity Partners: “We are excited about the opportunity that Panaseer has ahead of it and its mission to become the leading platform providing insight into the effectiveness and value of security products for enterprise customers. Panaseer has already made significant achievements to help resolve this pain-point and we look forward to working with the company to enter new geographic markets and business segments. We welcome Panaseer to our portfolio of leading cyber security companies.”