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Bishop Fox Lands $75 Million Collection B Funding

By Ryan Naraine on July 14, 2022

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Arizona-based Bishop Fox raised an enormous funding spherical as enterprise capital buyers proceed to wager large on the continual assault floor administration class

Assault floor administration pioneer Bishop Fox has banked $75 million in a brand new spherical of financing led by Carrick Capital Companions.

The Collection B funding brings the entire raised by the Phoenix, Arizona-based Bishop Fox to $100 million and underscores a surge in large bets by enterprise capital buyers on the fast-growing steady assault floor administration class.

Bishop Fox, a 17-year-old agency identified for its penetration testing and offensive safety experience, has grown dramatically since closing a $25 million Collection A spherical in 2019 and rolling out the Cosmos assault floor administration platform to automate the invention and mitigation of safety weaknesses.

Bishop Fox stated the Cosmos platform is able to performing steady offensive testing at scale, executing greater than 2.three billion operations and figuring out 13,000+ exposures per week.  “[Cosmos can] save safety groups greater than 5,000 hours per 12 months in vulnerability identification and triage and scale back the time to remediate essential vulnerabilities by 82%,” the corporate stated.

[ Learn: The Rise of Steady Assault Floor Administration ]

The corporate stated the surge in demand for its steady assault floor administration expertise and companies has led to a tripling Annual Recurring Income (ARR) in 2021.

Bishop Fox plans to make use of the brand new financing to rent offensive safety expertise and spend money on increasing the capabilities of the Cosmos platform. 

As a part of the funding transaction, Carrick Managing Director Chris Wenner will be a part of the Bishop Fox board of administrators, and present board member Don Dixon of Forgepoint Capital, a Collection A investor, will shift to a board advisor position. 

The assault floor administration class has grown in significance to unravel issues with vulnerability and patch administration, particularly for software program and different property which might be uncovered to the web. The expertise is supposed to deal with gaps in point-in-time penetration testing and vulnerability administration and is a extremely aggressive class with a number of startups jostling for market share. 

Associated: HD Moore’s Rumble Raises $15M Collection A Funding

Associated: CyCognito Snags $100M for Assault Floor Administration Tech

Associated: Assault Floor Administration Play Censys Scores $35M Funding

Associated: Bishop Fox: Hackers Can Execute Code on Home windows through DNS Responses

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