The average cost of a data breach is nearly $4 million, and yet 74% of companies say they can’t patch vulnerabilities quickly enough because they lack the necessary staff.
That’s why former HP senior business manager and national account director Jay Prassl founded Automox, which is developing a platform that automates endpoint configuration, patching, management, and inventory. After emerging from stealth in 2015, the Boulder, Colorado-based startup went on to raise $12.6 million in a series of funding rounds. This week, Automox nabbed $30 million in a series B round led by Koch Disruptive Technologies, with participation from CRV and CrowdStrike’s Falcon Fund (in partnership with Accel), bringing its total raised to over $40 million.
CEO Prassl says the capital will be used to accelerate R&D and expand Automox’s sales and marketing teams. “The security industry has done a great job of providing tools that are effective at identifying adversaries once they are inside your infrastructure,” he said in a statement. “Unfortunately, little innovation has been applied to proactively reduce the corporate attack surface by making sure the ‘windows and doors’ that attackers commonly exploit are locked to begin with.”