NEW YORK (Reuters) – Cybersecurity company Obsidian Security is increased to $20 million in a funding round participated by Greylock ners, the company told Reuters on Tuesday, a day before a scheduled announcement.
Other investors in the latest round of venture capital firm Wing and GV, a venture arm of Google, parent company, Alphabet Inc.
Obsidian Security, founded by former executives of cybersecurity companies Cylance and Carbon Black Inc., will use the money for product development and to grow in the sales and marketing teams, Chief Executive Officer, Glenn Chisholm told Reuters.
“Even companies that have successfully adopted single sign-on and multi-factor authentication technologies are scrambling to understand and to protect what employees do after they log in,” Chisholm said, adding that Obsidian provides “powerful, centralized visibility and control of the identity of users in enterprise applications.”
Obsidian Security started with $9.5 million in venture capital funding from Greylock ners in 2017 that valued the company at $27 million, according to Pitchbook.
The company declined to reveal the valuation.
Reporting by Angela Moon; Editing by Lisa Shumaker