Singtel Innov8 was among the investors in Balbix following a record-breaking 2021 for AI-powered cybersecurity funding.
Balbix, a US-based provider of cybersecurity posture automation technology, received $70m yesterday in a series C round backed by Singtel Innov8, the corporate venturing arm of telecommunications company Singtel.
Redline Capital led the round, which also featured Third Point Ventures, Nautilus Venture Partners, Modern Venture Partners, Mayfield, Franklin Park, JC2 Ventures, Mubadala Capital and Alter Venture Partners.
Founded in 2015, Balbix uses artificial intelligence (AI) technology to automate cybersecurity functions like cloud asset inventory and vulnerability management. It will use the funding to strengthen its engineering and go-to-market capabilities.
Funding and deals for corporate-backed cybersecurity technology providers explicitly using AI has been steadily rising over the past decade.
There were a total of two deals in 2011 with a combined value of $1.6m but six deals so far since the beginning of this year, totalling $212m in size, according to Pitchbook data.
The past two years have seen an especially…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
