Click Security nets $17.7m Lightspeed-led financing round


securities_lrgLightspeed Venture Partners has led a $17.7m Series B financing round for real-time security analytics company Click Security.

Citi Ventures and existing investor Sequoia Capital also took part in the round, which brings Click’s total funding to $24.7m.

The company said the money would be used to expand sales, marketing and engineering. Sequoia previously led a $7m Series A round for the business in 2011.

Sequoia managing partner Mike Goguen said, “Click’s core technology and solution approach has the potential to reshape the manner and speed of modern threat detection, analysis and early stage response.

“There still remains a significant gap in the way organizations safeguard against sophisticated attacks, and Click is approaching this with a very interesting solution model.”

Lightspeed partner John Vrionis added that the global cybercrime business now exceeds $300bn each year, with traditional defences failing to get the job done.

Last week New Enterprise Associates and Pelion Venture Partners led an $8.2m Series A financing round for online identity and user authentication service Stormpath.

Flybridge Capital also took part in the investment, which coincided with Stormpath formally leaving its ‘beta’ period and launching the general availability of its service.

The Series A round was preceded by a seed round from NEA and Flybridge, and an angel round led by Andy Rachleff, co-founder of Benchmark Capital and CEO at WealthFront.

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