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Summit becomes first institutional investor in RiskIQ through $10m Series A

18 Jul 2013

internet security online keyboardGrowth equity firm Summit Partners has invested $10m in online security business RiskIQ through a Series A funding round.

The deal marks the first institutional capital RiskIQ has accepted since it was launched four years ago.

RiskIQ uses a global proxy network spanning nearly 40 locations to monitor key websites and mobile applications which sit outside of corporate control.

Summit managing director Greg Goldfarb said, “Summit has a long track record investing in category-defining security software businesses that achieved rapid growth and profitability prior to raising outside capital.

“We believe that RiskIQ’s unique software platform allows customers to extend security beyond the enterprise perimeter and to protect the reputation of a business, along with the health of its digital business network.

“With borderless computing networks becoming the norm for companies of all sizes, RiskIQ is turning unknown threats—malware distribution, brand abuse, affiliate fraud and other risks—into known and addressable situations.

“With its robust and differentiated technology, RiskIQ has a clear opportunity to lead the external security threat detection market.”

Earlier this month Summit led an $11m Series B financing round for real-time big data server company WebAction.

The California-based company provides and end-to-end platform which powers data-driven applications by passing them structured and unstructured data.

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