Balbix today announced that it has raised $20 million to accelerate development and deployment of its AI-driven platform that anticipates cybersecurity threats.
The San Jose company offers what it calls a “breach avoidance platform” that harnesses AI to continually scan and analyze the attack surface of a customer’s network. It delivers the ongoing assessments via a risk heat map that ideally allows IT teams to understand and react quickly to potential threats.
“I’m very encouraged by the outcomes we’ve achieved in our first two and a half years, from building a truly expert security and AI team to deeply engaging with supportive design partners to launching an innovative security platform that is deployed by multi-billion enterprises,” said Balvix founder and CEO Gaurav Banga. “All of us at Balbix are honored to receive this vote of confidence from such top-tier investors, as well as senior executives who are expanding our go-to-market leadership and corporate governance.”
The round includes funding from Singtel Innov8, the corporate venture fund of the Singtel Group; Mubadala Ventures, the venture arm of Abu Dhabi’s Mubadala Investment Company; former Cisco Systems CEO John Chambers’ JC2
Ventures; and Mayfield Fund.
“Balbix is taking a game-changing approach to address the most fundamental cybersecurity challenges of today, including the ever-increasing volume and complexity of major breaches,” said Chambers in a statement. “Cybersecurity threats are evolving faster than we could have ever imagined, and Balbix is a true leader in the space with their innovative approach to improving cyber-resilience. The company’s potential impact on the market is exponential, and I look forward to supporting Balbix as they strive to digitally secure businesses, governments, and citizens alike.”