Funding from Technology Crossover Ventures Will Support Hiring Great People, Acquiring Innovative Companies and Accelerating International Expansion
Boston, MA - November 17, 2011 - Rapid7, the leading provider of security risk intelligence solutions, today announced it has secured $50 million in a series C round from Palo Alto, Calif.-based Technology Crossover Ventures (TCV). The new funding will support Rapid7's growth strategy in three main areas: hiring critical talent to accelerate product innovation, strategic acquisitions and international expansion.
The security and vulnerability management market is predicted to exceed revenue of $5.2 billion by the end of 2014 by industry analyst firm IDC3. Rapid7 is one of the fastest growing and most successful players in this space, with revenue increasing more than 900% over the past four years and the Company reporting its tenth quarter of record revenue in Q3 2011. More than 1,700 customers worldwide have decreased risk and increased productivity by remediating threats that pose the biggest impact on their business through Rapid7's solutions.
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