Google Ventures looks to invest in security and Europe
Investment wing of Alphabet bets $20m on enterprise security start-up and looks for next DeepMind
GV, formerly Google Ventures, is to invest $20 million in an enterprise security start-up and is also looking to Europe for further investments.
It said that New York-based SecurityScorecard, in a Series B funding round led by GV, has raised $20 million which will be used to "fuel SecurityScorecard's continued scale and innovation delivering cybersecurity ratings."
Other partners in the investment round include existing investors Sequoia Capital, Evolution Equity Partners, Boldstart Ventures, as well as new investor Two Sigma Ventures.
SecurityScorecard has around 100 enterprise customers and was founded in 2013. The firm has developed an infosecurity search engine that contains data on over 100,000 vendors and vulnerabilities. The platform can automatically detect vendors an organisation is doing business with and immediately begin monitoring their overall rating. Custom alerts can be set for rating changes or vulnerabilities that may arise based on user defined thresholds.
"Search engines crawl and index web pages across the internet. In a similar fashion, SecurityScorecard continuously surveys, analyses, and indexes vulnerabilities across the entire internet to determine the security posture for every organisation worldwide." said Aleksandr Yampolskiy, CEO of SecurityScorecard.
GV is also looking to invest more heavily in Europe. According to a report by Business Insider, Tom Hulme, one of the partners at GV, said it was looking for the next DeepMind, the UK-based firm heavily involved in developing artificial intelligence.
Hulme added that he was interested in general artificial intelligence, or building "thinking machines" with a comparable intelligence to that of the human mind.
He also said that he was interested in investing in fintech firms. He said when he started at Google Ventures he was convinced that "half of what I do would be in fintech in London", although the firm has yet to back any UK fintech companies.