The series B investment is planned to help with product development, scale services and expand the company's presence.
SARASOTA — Nucleus Security recently announced it had secured funding in the form of $20 million to help accelerate product development.
The Sarasota-based cybersecurity company also plans to use the funding to scale its engineering and support services as well as expand its presence. The series B funding round was led by Lead Edge Capital, a growth equity fund. Arthur Ventures, a series A investor for the company, also participated in the round.
“Providing the best customer experience and the best risk-based vulnerability management platform for large enterprises remains our top priority,” says Steve Carter, Nucleus co-founder and CEO, in a news release. “To accomplish this, we believe that it is key to be investing in our team and ensuring that Nucleus remains one of the best cybersecurity startups to work for.”
The funding came shortly after the company announced its strategic partnership with Mandiant and Andrew Peterson’s appointment to the advisory board.
“This funding round is an exciting milestone for Nucleus, and we are grateful for the support of Lead Edge Capital and Arthur Ventures,” Carter says. “Last year, we more than quadrupled our headcount and more than tripled our ARR, so we are just getting started on our mission to revolutionize vulnerability management.”
The company is planning more integrations, updating the vulnerability workflow and automation engine, providing customizable views and dashboards, as well as other features for customers later this year.
“Organizations are overloaded with alerts from vulnerability tools and are struggling to figure out which vulnerabilities to fix that are going to be the most impactful,” says Avery Rosin with Lead Edge Capital in the statement. “Nucleus is redefining the vulnerability management software category as a single source of record for all assets, vulnerabilities and associated data. We are excited to support the Nucleus team on the high growth path ahead.”