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.”
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform
- networking features, and more