Panaseer secures $26.5m in series B funding led by AllegisCyber Capital
AllegisCyber Capital led the financing round with participation from a roster of new and existing investors.
Panaseer provides a continuous controls monitoring platform that helps enterprise security teams identify missing assets and control gaps. The company operates from bases in London and New York.
Panaseer has secured $26.5m in a series B funding round led by AllegisCyber Capital. The investment includes participation from existing backers such as Evolution Equity Partners, Notion Capital, AlbionVC, Cisco Investments and Paladin Capital Group, alongside new investor National Grid Partners. The capital will be deployed to accelerate product feature development and enhance customer success and service delivery. This latest injection brings the total raised by the enterprise security platform to $43m.
Investor perspective
"The emergence of Continuous Controls Monitoring as a new cybersecurity category demonstrates a 'coming of age' for cybersecurity. Cyber is the existential threat to the global digital economy. All levels of the enterprise, from the CISO, to Chief Risk Officer, to the Board of Directors are demanding comprehensive visibility, transparency and hard metrics to assess cyber situational awareness. Panaseer has demonstrated itself as the leader in this critical new category and we are excited to be working with the team to further advance its leadership role in this essential market."
Bob Ackerman
Founder and Managing Director, AllegisCyber Capital
Use of funds
- 01Continue product development
- 02Scale operations
Investors
Bob Ackerman
AllegisCyber Capital
Evolution Equity Partners
Notion
AlbionVC
Cisco Investments
Paladin Capital Group
Ian Cooper
National Grid Partners
