Funding Obtained: Security Platform Secures $12.5 Million in Seed Capital
In a bid to modernize the antiquated vulnerability management industry, Root Evidence, a pioneering cybersecurity startup, has secured a seed round of $12.5 million. The funding round was led by Ballistic Ventures, with Grossman Ventures and other investors participating.
Root Evidence, co-founded by Robert "RSnake" Hansen, the Chief Technology Officer, and Jeremiah Grossman, the Chief Executive Officer, aims to change the way security teams approach vulnerability management. The duo brings a wealth of experience to the table, with Hansen co-founding WhiteHat Security and Bit Discovery, and Grossman being a co-founder of WhiteHat Security, SentinelOne, and Bit Discovery.
The investment supports Root Evidence's goal of providing solutions that turn digital risk into measurable business results. The startup's innovation lies in its evidence-based security model, which prioritizes the less than 1% of vulnerabilities that are actively weaponized and cause real damage, rather than relying on extensive lists of theoretical vulnerabilities or severity scores.
This approach integrates vulnerability scanning with attack surface management in a highly scalable and fast platform. It is designed to prioritize remediation on vulnerabilities proven to have resulted in breaches, thus cutting through the noise of tens of thousands of CVEs that organizations face annually.
By providing proof of exploitation in the wild, Root Evidence enables organizations to focus their resources on the vulnerabilities with the greatest impact on breach likelihood. Their solution also translates cyber risk into financial terms, empowering CISOs and security teams to communicate risk in dollars, which aids executive decision-making and prioritization.
Lex Arquette, the Chief Product Officer of Root Evidence, brings valuable experience to the team. He was responsible for building Meta's (formerly Facebook) homepage and growth systems that onboarded their first billion users. Heather Konold, the Chief Operations Officer, is a serial cybersecurity entrepreneur with a track record of contributing to many successful startups.
Roger Thorton, a partner at Ballistic Ventures, expressed pride in supporting the Root Evidence team, who have a history of changing the industry's approach to security. Thorton implied that the Root Evidence team is poised to push the industry forward once again. He believes that Root Evidence's evidence-based strategy is the solution needed to solve the problem in the vulnerability management industry.
Root Evidence's approach is evidence-based security, prioritizing decisions with the strongest risk evidence. The startup aims to change the way vulnerability management is approached by enabling security teams to calculate financial risk, focus on vulnerabilities with the greatest impact, and genuinely reduce breach chances. This shift from theoretical severity to evidence-backed prioritization aims to measurably reduce the chances of breaches by addressing the vulnerabilities attackers are actively exploiting, rather than trying to fix everything.
Technology and cybersecurity are integral parts of Root Evidence's approach, as the startup revolutionizes the vulnerability management industry by integrating vulnerability scanning with attack surface management in a scalable and fast platform. With evidence-based security, Root Evidence's technology prioritizes the remediation of vulnerabilities proven to have caused actual breaches, enabling organizations to focus their resources more effectively and reducing the chances of breaches by addressing the vulnerabilities that attackers are actively exploiting.
