AUSTIN, Texas – April 14, 2015 – NSS Labs, Inc., the world’s leading information security research and advisory company, announced today that it has secured $7 Million in additional equity and debt funding with participation from LiveOak Venture Partners and Chevron Technology Ventures. The financing will support the growth of the NSS Cyber Advanced Warning System™ launched in March 2015.
The new investment is a continued commitment to NSS Labs from LiveOak Venture Partners to seed the development of the new Enterprise solution for the Texas-based company. As part of the financing, Ben Scott, General Partner of LiveOak Venture Partners, joined Venu Shamapant, General Partner of LiveOak Venture Partners; NSS Labs Chairman and CEO, Vikram Phatak; and Founder and Chief Technology Officer, Bob Walder, on the NSS Labs Board of Directors. Bob Grazer, Venture Executive at Chevron Technology Ventures, has been named an observer on the NSS Labs Board of Directors.
The NSS Cyber Advanced Warning System™ is a groundbreaking real-time situational awareness tool. It provides users the critical information they need to change their security posture before an attack. Based upon real-time attacks and security product capabilities, this tool warns users when they are at risk of being breached. In addition, executives can use this interactive tool to perform a cyber risk assessment, understand their exposure, and develop a strategic plan.
“With our new Cyber Advanced Warning System, NSS is poised to change the way people approach cyber security,” said Vikram Phatak, Chief Executive Officer. “By having a clear understanding of what exploits are bypassing security products and which operating systems and applications are at risk, we can help our clients evaluate their security posture with actionable data they can take into the boardroom.”
“Our bet on NSS Labs was firmly rooted in a belief that they can leverage their stellar reputation for security product evaluation into creating a first-in-class SaaS offering that allows an enterprise CISO to get a firm handle on managing their cyber security risk,” said Venu Shamapant, General Partner, LiveOak Venture Partners. “We are very encouraged by the early response to the Cyber Advanced Warning System, and are excited to be part of the company’s growth phase.”