Information security research and advisory company NSS Labs, Inc. has raised $16 million in new equity and bank financing to help grow its suite of services, the company said Monday.
NSS’s services include security product testing, analyst services, and continuous product monitoring through its Cyber Advanced Warning System (CAWS), a cloud-based security and risk management platform.
The round of financing was led by Delta-v Capital with participation from existing investor LiveOak Venture Partners. As a result of the financing, David Schaller, managing director of Delta-V Capital, will join NSS’s board and Dan Williams, vice president of Delta-V Capital, will be named as a board observer.
Last year, LiveOak Venture Partners and Chevron Technology Ventures invested $7 million to seed development of the companies’ CAWS product. The latest financing round allows NSS to accelerate its go-to-market strategy and expand the capacity of the CAWS platform to meet customer demand, NSS said.
“NSS plays a rare and valuable role in the security industry. The partners in our firm have made many successful investments in both the information services and security sectors over the past 15 years. Through their CAWS platform, NSS is uniquely positioned at the intersection of these two highly attractive markets,” Schaller said in a statement.
“NSS has a strong reputation earned from its many years of investment in becoming the leading independent source for factual information on security threats, products, and cyber risk. We are excited about the opportunity to partner with NSS as they look to realize a higher trajectory of growth and success,” Schaller added.
“We were early believers and are thrilled to be reaffirming our investment in NSS Labs. NSS has successfully leveraged its stellar reputation as a trusted source for security product assessments by delivering a first-in-class SAAS offering that is giving enterprises visibility on their cyber security risk,” Venu Shamapant, general partner of LiveOak Venture Partners, said.
“NSS Labs has been on a rapid growth trajectory, and with this new investment from Delta-v Capital, we are thrilled that we can further accelerate our unique offerings to customers around the world,” Vikram Phatak, CEO of NSS Labs, added.