Cybersecurity is a booming business for those who get an edge on the competition. Austin-based NSS Labs, Inc. is one of the companies picking up major customers, such as Visa and Disney, in the crowded industry.
Now, it hopes to expand on that with a new $16 million round of equity and debt financing, bringing its total fundraising to about $27 million.
The funding was led by Delta-v Capital, a Boulder-based investment firm with existing investments in the Austin gas and oil exploration startup, Drillinginfo, as well as three security startups. LiveOak Venture Partners, which led NSS Labs' $7 million funding round last year, also participated in the new round. Prior to that, NSS Labs had raised a $4 million Series A round in 2013.
As part of the new round, Delta-v Capital Managing Director David Schaller will join NSS Labs' board of directors, and Dan Williams, vice president of the investment firm, will become a board observer. LiveOak Venture Partners General Partner Venu Shamapant and LiveOak Co-Founder Ben Scott are also on the board.
NSS Labs, founded in 1991, plans to use the money to expand on the cybersecurity warning system that helps other companies with security product testing and continuous, cloud-based monitoring for security threats. The company also offers IT security advice and security research services.
"We were early believers and are thrilled to be reaffirming our investment in NSS Labs," Shamapant said in a statement. "With rapidly evolving threats and security products, the need for a tool that allows a security organization to quickly assess whether new exploits can attack them and if so whether their existing security can stop the attacks, is critical."
(Image via Flickr by Yuri Samoilov. CC by 2.0)
