Wheelings & Dealings: Prevalent Gets New Round of Funding

In an era where suffering a data breach is just as likely as not, consumers appreciate a company that can actually tell its clients they are safer than competitors. This is likely the premise behind the recent influx of cash for Prevalent, company that focuses on cyber threat intelligence. Prevalent announced earlier this week that it has just received more than $8 million in Series B financing from a number of investors.

"This is a great opportunity for us to be a part of the pioneers of 3rd party risk management and cyber threat intelligence," said Jamie Weston, Managing Director at Spring Mountain Capital, one of the firms that led the investment round. ”Prevalent is scaling their business at an incredible rate while developing new capabilities, which continue to demonstrate Prevalent's thought leadership. I am excited to work with this very talented leadership team.” In exchange for his company’s wads of cash, Winston will be joining the Prevalent board of directors.

With this money, Prevalent will be able to continue to work on becoming a leader in the risk management and continuous threat intelligence monitoring markets. In particular, the firm is able to offer up solutions that allow its clients to assess the IT risks that come from vendors using third party applications. The solutions that Prevalent offers allow companies to get a better look at these third party applications. The solutions also allow for real-time information on these vendors. The work on these solutions recently led to industry analyst Gartner (News - Alert) to name the company a Visionary for IT vendor risk management. The firm believes this latest funding round will allow it to speed up the commercialization process for its products. That means the firm will be able to offer its products to a broader audience in the very near future.