If your company is heavily invested in cybersecurity software, how do you know you’re getting the right bang for your buck?
Enter McLean-based Verodin, which just raised $20.7 million in funding from 14 investors. The round was disclosed in an SEC filing Thursday.
The company analyzes clients’ existing cybersecurity infrastructure for vulnerabilities and efficiency – essentially auditing its defense systems.
Verodin runs a variety of test attacks on a company’s servers and tracks them as they are (or aren’t) defended by the company’s security software. It packages the resulting information to report which pieces of the firm’s cybersecurity programs are faulty or underutilized.
When the testing is done, Verodin finds ways to maximize the ROI and consolidate the controls of existing programs. For example, it looks to connect different firewalls and activity logs so they work in concert, instead of individually. The process also includes deleting obsolete security products that may hang around on the system.
The company moved its headquarters to Tysons in February, after reporting 400 percent growth in 2017. It’s led by CEO Christopher Key, former chief architect for ArcSight, which was acquired by Hewlett-Packard. And it recently brought on Earl Matthews, a former Air Force major general and Hewlett-Packard VP, as chief strategy officer.
Verodin also raised $10 million in a 2016 Series A round, bringing their total funding to-date to about $22 million. Previous investors with a board seat include Blackstone, Rally Ventures and Crosslink Capital.
Verodin could not be reached for comment.
The firm’s partners include Guidepoint, a consulting company based in Herndon that had revenues exceeding $150 million in 2016, according to Virginia Business.
