Featured Startup: Tenable Network Security Raises $250 Million To Expand Cybersecurity Software Development

Tenable Network Security, makers of vulnerability scanners and software solutions that help find network security gaps, announced on Tuesday that it has raised $250 million in its latest funding round, bringing its funding to date to $300 million. 

Insight Venture Partners and Accel Partners led this funding round. Venture and growth equity firm Accel Partners invested $50 million Series A round in September 2012. The investment, which is subject to customary closing adjustments, marks one of the largest fundraising rounds completed for a private cybersecurity company. 

Ron Gula, CEO Tenable Network Security, said in a statement: “Tenable has the only true continuous network monitoring offering on the market and our products defend some of the world’s largest and most complex networks, keeping our customers secure in the harshest of threat environments”, “We are proud to partner with Insight and Accel who, with their investment and deep expertise in technology and security, will enable us to further accelerate our global growth and innovation.”

The company intends to use the funding to accelerate development of its cybersecurity software. Tenable's main products include SecurityCenter Continuous View, which provides enterprises with an integrated view of network health, and Nessus, which detects and assesses network data.

Founded in 2002 and based in Columbia, Maryland, Tenable is one of the leading providers of next-generation cybersecurity software. The company claims more than one million users and nearly 20,000 customers around the world that use its products to monitor enterprise networks for vulnerabilities and security threats. It major clients include Deloitte, Visa, BMW, Adidas and the United States Department of Defense. The company plans to use the fresh capital to expand its market into 10 more countries including China, Mexico, Ireland, Sweden, UAE and India. 

Image credit: Tenable