Cybersecurity company JupiterOne nets $30m in its Series B

Cybersecurity platform JupiterOne has closed its Series B round on $30m, which comes after a successful 2020 that saw it triple its revenue.

Sapphire Ventures, which recently supported the $120m funding round of Auth0, led the round.

In 2020, the company tripled its revenue and doubled the size of its team in the last six months. JupiterOne hopes to achieve the same goals in 2021.

The company is hiring staff for its engineering, product development and go-to-market capabilities teams.

JupiterOne aims to reduce the costs and complexity of cloud posture management, risk analysis and compliance reporting, vulnerability management, threat hunting and incident response. Its technology lowers the time and effort needed in collecting and analysing assets, demonstrating compliance, remediating security gaps and improving overall security postures.

In a blog post announcing the deal, JupiterOne founder and CEO Erkang Zheng said, “As we move forward in 2021 and onward in 2022, the sky’s the limit. We have an entire universe of cyber assets to help our customers explore and secure.

“From one person security teams looking for a little help with a specific use case – yes we have a free tier…check it out here – to enterprises building their entire cyber security program on the back of JupiterOne’s cyber asset management platform, we are prepared and ready to help each and every one of you.”

With the close of the round, JupiterOne has raised just under $50m in equity. The RegTech previously raised $19m in funding last year from Bain Capital Ventures, Rain Capital, LifeOmic and others.

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