Tempe-based cybersecurity firm Bishop Fox says it plans to expand its team as well as upgrade its offensive security platform thanks to a fresh $75 million infusion in series B funding.
The funding comes from Carrick Capital Partners, a software- and technology-focused firm from San Francisco, and takes the 17-year-old company’s total funding amount to $100 million. The company raised $25 million in its series A round in 2019.
Bishop Fox has a clientele that includes Google, Equifax, John Deere, Sonos and Zoom. The Arizona company says it has been gaining recognition and industry awards for its Cosmos security platform, which is built on a combination of technology of automation with human expertise to continuously root out technology vulnerabilities. The offensive security concept is to find problems before criminals can.
The new cash infusion will be used to enhance that platform with new innovation as well as the company’s offensive security training and advancement program, called Bishop Fox Academy. The company has already been building its team this year, growing its workforce by 33% since the beginning of the year. The company had 22 positions listed on its careers page on Friday.
“By further developing the best technology and talent in the industry, we will continue to define the future of offensive security,” said Vinnie Liu, co-founder and CEO of Bishop Fox, in a statement. “Additionally, the funding will enable us to accelerate our international expansion, extending our expertise to help even more organizations defend forward. We’re excited to partner with Carrick, an investor who shares our vision and mission.”
Bishop Fox said it is also positioning itself to capitalize on new bipartisan legislation meant to counter growing threats to cybersecurity globally that could increase public-private collaboration on cybersecurity. In particular, a measure signed into law in June by President Joe Biden calls for more training and education in the field.
That could bode well for Bishop Fox Academy, which has a curriculum developed in partnership with universities.
As part of the funding deal, Carrick’s Managing Director Chris Wenner will join the Bishop Fox board.
“Bishop Fox has one of the best reputations with customers we have ever come across, and the highest quality solutions and tech-enabled services in the cybersecurity industry,” Wenner said in a statement. “The combination of their world-class security operators, unique process, and Cosmos technology platform has enabled them to continuously improve the security posture of complex, global enterprises at scale. We are excited to partner with them to extend their leadership position and innovation in offensive security.”
Last year, Bishop Fox entered a partnership with Scottsdale-based company Datashield, a defensive security company that focuses on monitoring, detecting and responding.
