Madison-based Sprocket Security, a cybersecurity company with a platform for continuous penetration testing, has closed an $8 million Series A financing round.
The funding will allow Sprocket to expand its sales and marketing initiatives and help accelerate development of the company’s platform, according to a Thursday announcement. That platform allows security teams to continuously validate their security posture, understand their most complex risks, and mitigate threat exposure with support from an expert team.
“Companies that have experience with a point in time pentest understand the limitations of the legacy model,” said Casey Cammilleri, founder and chief executive officer of Sprocket. “Technology is constantly evolving and so must security measures. Automated solutions alone can’t keep up with the pace of change and lack critical business context. That’s why we believe in the hybrid approach of human-driven testing supported by automation. It’s the only way to ensure comprehensive and up-to-date testing. This continuous approach is being increasingly understood and appreciated by our customers who have, over the past two decades, witnessed that fully automated solutions can’t fulfill all their pentesting needs.”
The Series A funding round was led by La Jolla, California-based Blueprint Equity with participation from Mequon-based Capital Midwest Fund.
“Within an ever-changing cybersecurity landscape, the only constant is the presence of threat actors,” said John Bonhard, vice president of Blueprint Equity. “Constant vigilance, or penetration testing, is critical in understanding how and the extent to which vulnerabilities can be exploited by sophisticated hacker techniques. We see a growing demand among CISOs and IT security leaders for proactive security solutions as they look to harden the growing attack surface within their respective organizations.”
Following Blueprint’s investment in Sprocket, Bonhard will join the company’s board of directors.
