Cybersecurity company Inspectiv Inc., based in Manhattan Beach, has raised $8.6 million in a Series A funding round, bringing the startup’s total funding amount to $16.6 million.
The funding, which was announced June 30, was led by private markets firm StepStone Group, along with Fika Ventures, Freestyle and Mucker Capital.
The funding will be used to help Inspectiv expand its vulnerability-detection platform using artificial intelligence, which is used to help identify cybersecurity vulnerabilities and data. The company utilizes crowdsourced security testing and vulnerability scanning to help companies identify and protect customers from security threats.
Inspectiv also announced the expansion of its leadership team. Ryan Disraeli, co-founder of the cybersecurity company TeleSign, “couldn’t be more excited” about joining the company in June as chief executive .
“I’m thrilled to come on board at a moment of major growth for the company,” Disraeli said. “Inspectiv has a powerful vision to revolutionize how we protect businesses from cyber threats, combining automation with our worldwide team of researchers. We have the funding and leadership team in place to execute that strategy.”He added that the new funding will help Inspectiv accomplish its main mission – “securing the Internet.”
“The new funding allows us to accelerate our roadmap to build a complete vulnerability detection platform that combines both the intelligence from crowdsourced testing, but also A.I. and vulnerability scanning to ultimately help our customers stay secure,” Disraeli said.
Inspectiv has clients that range from small companies to large enterprises. Their researchers across the globe look through their clients’ programs to find any possible vulnerabilities.
“We communicate that back to our customers so that they can fix that vulnerability as well as we automate that vulnerability for our customers so that we can look for that same vulnerability across all of our other customers,” Disraeli said.
Disraeli will work closely with Inspectiv’s executive chairman, Joseph Melika.
“We have a massive opportunity to fix the disconnect between the vulnerabilities companies discover with the current tools, and the ones that are exploited by bad actors,” Melika said in a statement. “Our researcher community is constantly hunting through the perspective of bad actors to provide high-impact vulnerabilities without all the noise.”