Bishop Fox, an authority in offensive security, announced $75 million in Series B funding from growth-oriented investment firm, Carrick Capital Partners. The strategic second round brings total funding to $100 million for the 17-year-old cybersecurity firm.
The funding will be used to grow the company’s team of offensive security experts and fuel expansion of its Cosmos platform. As part of the transaction, Carrick Managing Director Chris Wenner will join the Bishop Fox board of directors, and board member Don Dixon of Forgepoint Capital, a Series A investor, will shift to a board advisor role.
As cyberattacks escalate in the wake of economic uncertainty and geopolitical dynamics, the U.S. government has proposed legislation designed to increase public and private sector collaboration on cybersecurity, including bills aimed at expanding and activating a broader workforce and promoting education and preparedness in defense of U.S. assets.
These initiatives place Bishop Fox in a position to lead the market. The company has developed prestigious educational programs for offensive security training and advancement, including Bishop Fox Academy, programs developed in partnership with universities and a mentoring program.
Additionally, Bishop Fox’s comprehensive offensive security solutions and attack surface management technology help organizations proactively improve their security posture.
The power of Bishop Fox stems from creatively combining technology and automation with human expertise to find vulnerabilities before the bad guys do. This combination serves as the foundation for the Cosmos platform, which performs continuous offensive testing at scale to outpace modern attackers.
Executing more than 2.3 billion operations and identifying 13,000-plus exposures every week, Cosmos can save security teams more than 5,000 hours per year in vulnerability identification and triage and reduce the time to remediate critical vulnerabilities by 82 percent. The increasing demand for the platform resulted in tripling Annual Recurring Revenue (ARR) in 2021.
“This capital will fuel additional innovation in our Cosmos platform, investment in our people, and expansion of Bishop Fox Academy. By further developing the best technology and talent in the industry, we will continue to define the future of offensive security,” said Vinnie Liu (pictured), co-founder and CEO of Bishop Fox. “Additionally, accelerating our international expansion will enable us to extend our expertise to help even more organizations defend forward. We’re excited to partner with Carrick, an investor who shares our vision and mission.”
For more information, please visit www.carrickcapitalpartners.com or bishopfox.com.
