WhiteHat Security has received $31 million (23 million EUR) investment from JMI Equity and Investor Growth Capital (IGC). The new funds should help the company grow even further.The money will be used to increase focus on the small and medium business market, particularly to expand sales of Sentinel Mobile and Sentinel Source, two recently launched offerings.
“From the start, WhiteHat has been driving Web security to the forefront of the industry by helping organizations understand the importance of securing their most critical assets at the application layer,” Stephanie Fohn, CEO of WhiteHat Security, explained.
“WhiteHat has established a leadership position in the enterprise and we have the resources and expertise to expand our market share globally with enterprise customers and within SME,” Fohn added.
“JMI and IGC have experience working with a significant number of successful companies in the SaaS and security markets. We believe they will be valuable partners in our continued success.”