Foundational Security

Cyber Risk Management Leader Brinqa Announces $110 Million

Risk Management

Self-funded Brinqa has been Profitable with Strong Growth Since 2017; Funding Round from Insight Partners is Company’s First Institutional Investment

Brinqa™, a leader in Cyber Risk Management, today announced that it has received $110 million in growth capital from leading global venture capital and private equity firm Insight Partners. Bootstrapped and founder-backed since 2009, Brinqa is receiving its first institutional investment for continued business scaling and market expansion. This capital infusion better positions Brinqa to satisfy the increasing demand to address security challenges with seamlessly integrated, highly automated, and risk-based cybersecurity programs.

“Brinqa is a rare example of a bootstrapped cybersecurity company whose vision and focus have enabled them to land some of the world’s largest companies as customers,” said Thomas Krane, Principal at Insight Partners. “The proliferation of ‘best of breed’ point solutions has created the need for a horizontal view of cyber risk across disparate tools, alerts and sources. Brinqa’s platform enables security teams to leverage a common risk model to proactively identify cybersecurity gaps and automate prioritized risk remediation at the speed of business. We are thrilled to make this investment and bring the full force of Insight’s ScaleUp specialists to help Brinqa in its next phase of growth.”

Brinqa applications leverage the industry’s only Knowledge Graph for cybersecurity – The Cyber Risk Graph. They are built on a risk-based low-code platform that enables rapid deployment and expansion across high-impact cybersecurity areas such as Cybersecurity Asset Management, Vulnerability Management, Application Security, and Cloud & Container Security. Supported by the most extensive cybersecurity data integration ecosystem – 150+ integrations strong and rapidly growing – Brinqa solutions help organizations get the most out of existing technology investments while addressing their unique risk tolerance and business challenges.

“Insight Partners’ $110 Million investment will support the next stage of Brinqa’s growth as a company, and will be leveraged to accelerate ongoing efforts to make Brinqa a unifying, essential component of every enterprise cybersecurity ecosystem. Brinqa was bootstrapped in 2009, and chose to remain founder-backed as we worked to shape the Cyber Risk Management space, achieve strong organic growth and profitability, and acquire some of the world’s biggest brand names as customers.

Brinqa founders Amad Fida and Hilda Perez are cybersecurity industry veterans whose prior experience includes building and leading startups through successful growth and acquisition. Their deep expertise with enterprise IT and security organizations led them to recognize a severe and emerging problem that was going unaddressed.

“We saw that even niche cybersecurity programs required interaction between many systems, teams, and stakeholders, and companies were struggling to connect things,” said Amad Fida, CEO of Brinqa. “With digital transformation, the number of cybersecurity controls and systems required to monitor and protect an enterprise has increased by magnitudes. While technology is a competitive advantage for businesses, its aggressive adoption has amplified the challenge of bringing it all together in a meaningful way. We founded Brinqa to help organizations harness the vast and rapidly growing stores of data towards the critical challenge of quantifying, operationalizing, and reducing cyber risk.”

“We were happy with the organic growth of the company and were not actively looking for outside investment. But as a result of all our success, Brinqa attracted quite a bit of interest from the investor community, and for the past few years we have received plenty of inquiries from potential investors. We could have continued to grow organically, but we asked ourselves if we could reach our goals and full potential faster and better by ourselves or with a partner. Insight Partners is extremely aligned with our goals, and we look forward to this new partnership with them as we expand the company, the benefits and functionalities our product delivers, and our global reach and delivery to new exciting markets.” – Syed Abdur – VP, Product Management & Marketing

Although Brinqa was not actively looking for outside investment, Insight Partners’ ScaleUp focus and operational expertise made them the right partner for the next stage of Brinqa’s journey.

Brinqa is headquartered in Austin, Texas, with remote staff and offices in the San Francisco Bay Area, New York, Buenos Aires, and Bangalore. Brinqa’s platform and applications are deployed at some of the largest businesses across the globe.

Brinqa’s outside counsel for the transaction was Covington and Burling LLP.

For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybsercurity, go to AI-Techpark.com.

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