Balbix secures $70M to bolster cyber risk quantification

Cyber posture automation vendor Balbix has landed $70 million in a Series C funding round, with the new investment to be allocated toward strengthening cyber risk quantification, vulnerability management, and posture automation security, VentureBeat reports. Balbix has touted its automated cyber risk quantification tool's capability to allow real-time cyber risk visibility, which has been a priority among organizations that are increasingly moving into a hybrid cloud approach. The technology could also enable security teams to better keep up with the increasing enterprise attack surface, according to Balbix founder and CEO Gaurav Banga. "With Balbix organizations can measure and reduce cyber risk by automating critical components of their cybersecurity posture management. CISOs and CIOs can demonstrate the ROI of their cybersecurity program and confidently report on their security posture to the board of directors and other stakeholders," Banga said. "Balbix automates cybersecurity posture management for hybrid cloud environments, from asset inventory and risk-based vulnerability management to cyber risk quantification," Banga added.