Date: June 5, 2013CAMBRIDGE, MA – Bitsight Technologies, a provider of innovative big data analytics for risk management, today announced it has closed a $24 million Series A round of financing from Globespan Capital Partners, Menlo Ventures, Flybridge Capital Partners, and Commonwealth Capital Ventures. The new funds will be used to expand product development efforts, hire sales and marketing personnel, and launch the Company’s first product. As part of the financing, Globespan Capital Partners’ Dave Fachetti and Menlo Ventures’ Venky Ganesan will join Flybridge Capital Partners’ David Aronoff, Bitsight’s CEO Shaun McConnon and co-founders Stephen Boyer and Nagarjuna Venna on the Company’s Board of Directors. Bitsight received seed funding from the National Science Foundation, Flybridge Capital Partners and Commonwealth Capital Ventures.
“We are excited to bring a new evidence based approach to quantifying security risks while providing our customers with actionable insight to quickly respond to emerging data security threats,” said Shaun McConnon, CEO, Bitsight Technologies. “With this financing, Bitsight is well positioned to drive innovation in the security risk management mar