Cybersecurity startup Brinqa raises $110 mln from Insight Partners

Co-founder and president of cybersecurity startup Brinqa Hilda Perez poses in a jacket with the company logo
Co-founder and president of cybersecurity startup Brinqa, Hilda Perez poses in a jacket with the company logo in this June 2021 handout photo released June 7, 2021. Brinqa/Handout via REUTERS/Files

June 8 (Reuters) - Brinqa, a startup that helps businesses map out their cybersecurity applications and alert them of gaps, on Tuesday said it raised $110 million from private equity firm Insight Partners.

Cybersecurity companies have been getting big rounds of funding as remote work and the mounting numbers of digital gadgets increase the opportunities for hackers to break in.

For Austin, Texas based Brinqa, founded in 2009, this is the first institutional investment, with the company self-funded until now, said CEO Amad Fida. He declined to share how much the company was valued at, adding only that Insight Partners received a minority stake.

“A large enterprise would have upwards of 50 to 60 systems feeding data into Brinqa. And then Brinqa, it looks at that knowledge, combs it, or correlates it, makes some sense out of it and identifies things that are high risk, medium risk, low risk,” said Fida. The company can then be alerted automatically of any security gaps and in some cases the Brinqa software can change setting on applications to close those gaps, he said.

The shortage of cybersecurity talent makes software that can automate a large part of the security work increasingly important, say cybersecurity industry executives.

Reporting By Jane Lanhee Lee; Editing by Lincoln Feast.

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Reports on global trends in computing from covering semiconductors and tools to manufacture them to quantum computing. Has 27 years of experience reporting from South Korea, China, and the U.S. and previously worked at the Asian Wall Street Journal, Dow Jones Newswires and Reuters TV. In her free time, she studies math and physics with the goal of grasping quantum physics.