Cyber risk analytics provider Bay Dynamics has completed a $23 million Series B financing round through Carrick Capital Partners.
Bay Dynamics says the financing will boost the company's national and global growth and its ability to help companies measure, communicate and reduce cyber risk.
“With Carrick Capital Partners’ support, Bay Dynamics can make an even greater impact in the cyber security space,” Feris Rifai, co-founder and CEO at Bay Dynamics, said in a July 13 press release. “We are already helping companies nationwide shift their approach to focusing on risks to their most valued assets as the driver of their cyber security decisions. Now we are going to expand our reach and continue to innovate so that companies can easily and effectively embrace cyber risk management as part of their regular business processes.”
San Francisco-based Bay Dynamics provides its Risk Fabric analytics platform for hundreds of businesses nationwide, including Fortune 500 companies and sectors such as hospitality, in which protecting personal information and payment card data is vital.
Risk Fabric helps organizations identify and remediate the most severe insider threats to their most valued assets, and automates the process of analyzing security information to quantify cyber risk.
Carrick Capital Partners is an investment firm focused on technology businesses developing software, software-as-a-service, business process outsourcing and transaction processing.