Security services company Rapid7 received $50 million in its third round of funding today, led by Technology Crossover Ventures.
Rapid7’s technology locates security vulnerabilities and rates them based on heightened risk and likelihood an attack will take place. It then offers solutions for how to fix them. The company offers security products for web applications, databases and networks, in addition to “penetration” tests, to see if a program is able to get past the security measures a client already has in place.
“In the security battle, attackers currently have the edge and Rapid7 intends to change this by recruiting the most talented people and organizations to drive innovation,” said Mike Tuchen, Rapid7’s chief executive officer. “We are looking for great people that are passionate about helping customers solve the hard problems they face in security.”
According to research by the Open Security Foundation, 369 attacks have been made on the business, medical, education and government sectors, as of this past July. That’s enough to cover every day of the year and then some, and the attacks have affected over 126 million records.
The company is using this funding round to make hires in more acquisitions following its 2009 grab of Metasploit Framework, open source security software, which Rapid7 now uses as one of its main solutions. The company also plans to expand its presence in the Asia Pacific, European, Middle Eastern and African markets.
The funding has already been used to open offices in Los Angeles and Texas.
Rapid7 was founded in 2000 and has thus far received $59 million in funding from Technology Crossover Ventures and Bain Capital Ventures. Its products have been deployed by over 1700 enterprises in 49 different countries.