September 15, 2016 / 7:05 AM / 3 years ago

Cyber-ratings firm BitSight raises $40 million, GGV Capital leads round

(Reuters) - BitSight Technologies, a firm that sells cyber security ratings on businesses to insurers, said on Thursday that it has closed $40 million in series C funding, in a round led by GGV Capital.

Previous investors that joined the round include Flybridge Capital Partners, Globespan Capital Partners, Menlo Ventures and Shaun McConnon.

The Cambridge, Massachusetts-based company said it will use the funds to expand into new geographical areas, make acquisitions and invest in product development.

BitSight has raised $95 million to date.

Reporting by Jim Finkle; Editing by Bill Rigby

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