Austin-based cybersecurity company NSS Labs said Monday it has raised $16 million in equity and bank financing to continue its growth.
NSS Labs, whose testing service lets corporations measure the effectiveness of major security products, said it received the funding from Delta-v Capital, which has offices in Dallas and Boulder, Colo., and from an existing investor, LiveOak Ventures Partners of Austin. NSS Labs last year raised $7 million from LiveOak Ventures Partners and Chevron Technology Ventures of Houston.
NSS Labs’ technology lets customers track new strains of malicious programs worldwide and receive information they need to change their security systems before an attack. It also warns users when they are at risk of being breached.
The new funding will allow NSS Labs “to accelerate its go to market strategy, as well as expand the capacity of the CAWS (Cyber Advanced Warning System) platform to meet customer demand,” the company said in a news release.
“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, said in a written statement.
David Schaller, managing director of Delta-v Capital, will join the NSS Labs board. He said NSS Labs “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 written statement.
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