BlueVoyant Raises $68 Million To Boost Security Services Tools

The funding was led by Temasek, and will allow BlueVoyant to increase the number of technical, sales and marketing resources supporting its managed security, third-party cyber risk, and cyber defense services.

BlueVoyant has raised $68 million to add more scale and support around its core cybersecurity services as well as expand its footprint outside North America.

The New York-based company said its third round of funding will allow BlueVoyant to boost the number of technical, sales and marketing resources supporting its managed security, third-party cyber risk, and cyber defense services, according to Co-Founder and CEO Jim Rosenthal. BlueVoyant also plans to use the money to invest in channel support personnel from both a sales and marketing perspective, he said.

“We are going to be looking for additional reselling partners, and we see that as our primary route to market,” Rosenthal told CRN.

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From a technology standpoint, Rosenthal said the investment will build on BlueVoyant’s new capabilities in the managed risk space, where the company is now fusing external cyber risk assessment capabilities with the knowledge of experts in risk operations center and automation in the third-party space. From there, the company can help with both the subsequent remediation and implementation.

BlueVoyant’s new managed risk service is geared toward supply chains and oil companies and is being offered through the company’s network of resellers, Rosenthal said. Plus BlueVoyant is now supporting the full Microsoft suite as a managed security service, which Rosenthal said complements the company’s own managed security offerings and should lead to more Microsoft-focused reseller relationships.

And as far as BlueVoyant’s cyber defense services as concerned, Rosenthal said the company plans to expand support for distribution of these offerings, which include full incident response services as well as threat intelligence and brand protection capabilities. Specifically, Rosenthal said BlueVoyant plans to scale up the number of experts it has doing incident response as its volume of customers grows.

From a solution provider perspective, Rosenthal said BlueVoyant works with more than 50 channel partners spanning the gamut from traditional resellers to partners with deep relationships in a particular vertical that aren’t doing much around cybersecurity today.

BlueVoyant is looking to add partners with unusual strength in particular geographies or industry segments who understand how the company’s offerings fit their customer base, according to Rosenthal.

BlueVoyant was founded in 2017, employs 228 people, and has raised $275 million in three rounds of outside funding, according to LinkedIn. The current funding round was led by Singapore-based global investment company Temasek, and comes just 14 months after BlueVoyant raised $82.5 million in a Series B round backed by financial technology giant Fiserv.

The company does more than half of its business in the United States today, and Rosenthal said BlueVoyant is looking to grow its presence in Latin America, Europe and Asia. BlueVoyant just got on the ground in Central America with an office in Mexico, which Rosenthal said the company plans to use as a launching point for its Latin American expansion.

BlueVoyant has already built out its presence in the United Kingdom in a significant way, and Rosenthal said the company is now pushing into Continental Europe. And in Asia, Rosenthal said BlueVoyant has a significant presence in the Philippines which it’s using as a base as the company pushes into the rest of the continent.