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CASE STUDY
RiskIQ, digital cyber-threat intelligence provider

With more than 75 percent of cyber-attacks originating outside the corporate firewall, RiskIQ allows enterprises to gain unified insight and control over their web, social and mobile exposures.

Background:

Battery led RiskIQ’s Series B financing in 2014 amidst accelerating demand for web and mobile cyber-risk-detection software. Battery also participated in the company’s Series C and D financing rounds.

With the rise of cloud and mobile computing, the traditional concept of a secure corporate perimeter began to disappear. Hackers switched their attack vectors, focusing on vulnerabilities outside a company’s network. For example, third-party APIs—which allow developers to integrate various software applications—became huge, new vulnerabilities for organizations. While a company’s web or mobile page might pass its initial security audit at the time of deployment, if months later an unrelated party (such as the analytics provider connected to the page via an API) were to become infected, the full site could become compromised. RiskIQ addresses this issue. Through its web and mobile app store crawlers, the company’s technology continuously monitors external threats that jeopardize the security and core processes of enterprises. RiskIQ helps its clients identify and remediate vulnerable assets before an attacker can capitalize on them, enabling chief information security officers to operate in a state of prevention rather than reacting to threats after the fact.

The Battery Impact:

  • Battery’s business development team helped RiskIQ navigate a strategic engagement with a Tier-1 financial-services institution, which resulted in a seven-figure, multi-year deal with the company.

“Battery was a strategic partner through the months-long process, helping us navigate the sales account strategy at the onset, elevating our visibility among the right internal stakeholders throughout the process, and ultimately helping us close the deal.”

 – Jenna Raby, Senior Vice President, Global Financial Services, RiskIQ

  • Battery was actively involved in executive recruiting, helping RiskIQ build out its management team. Key roles Battery helped source and hire included the company’s President & COO, CFO, CMO, VP of Product and its sales leadership team.
  • Battery also helped RiskIQ as it evaluated potential acquisition targets, including being actively involved in the company’s process to acquire PassiveTotal, which it closed in October 2015.

Outcome:

In July of 2021, Microsoft announced its acquisition of RiskIQ, integrating the company into its suite of end-to-end, cloud-native security solutions.

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Past performance is no guarantee of future performance and there can be no assurance that Battery or its portfolio companies will achieve comparable results.

*For a full list of all Battery investments and exits, click here

Details
Focus area
Infrastructure Software
INVESTED
2014
STATUS
Acquired by Microsoft
Location
San Francisco, CA
STAGE
Growth
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