<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=UpGuard" target="_blank">UpGuard</a>, which runs enterprise cybersecurity company CSTAR, has raised $17 million in Series B funding from <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Pelion+Venture+Partners" target="_blank">Pelion Venture Partners</a> and existing investor <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Square+Peg+Capital" target="_blank">Square Peg Capital</a>.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=UpGuard" target="_blank">UpGuard</a>, which runs enterprise cybersecurity company CSTAR, has raised $17 million in Series B funding from <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Pelion+Venture+Partners" target="_blank">Pelion Venture Partners</a> and existing investor <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Square+Peg+Capital" target="_blank">Square Peg Capital</a>.
Existing investors also participated, along with a strategic investment from Australia&#8217;s largest general insurer IAG.
Just as credit scores aggregate financial risk factors into one easy-to-understand number, CSTAR provides a single measure of risk for information security to customers including Rackspace, Ulta, Citrix, Amadeus, PGI and ADP.
Based on information about an organization&#8217;s actual configuration state and testing habits, CSTAR calculates vulnerability levels of company servers, network devices and cloud services to risk of being breached.
&#8220;We were drawn to UpGuard primarily because it has developed a unique response to the growing need for organizations to mitigate cyber risk. CSTAR provides information that helps companies properly understand and manage their IT assets. It also has the potential to help insurance companies like IAG better assess and price customers&#8217; cyber risk. The potential value of CSTAR, as well as the founders&#8217; entrepreneurial track record, made investing in UpGuard the right choice for IAG,&#8221; said Ron Arnold, group general manager of IAG&#8217;s venturing team.
&#8220;Managing the risk of data breaches is a complex problem in need of innovative solutions. UpGuard&#8217;s ability to assess both external and internal risk factors is a huge step forward in understanding the complete security posture of a business,&#8221; said Chris Cooper, partner at Pelion Venture Partners.
The Mountain View, California, based company has grown its customer base in sectors that need its technology to validate critical infrastructure and continuously detect potential risks.
UpGuard also announced that Hamish Hawthorn, former CEO of Australian incubator ATP Innovations, will join as the company&#8217;s first vice president of corporate development.
Also read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/?s=cybersecurity" target="_blank">Cybersecurity software firm Darktrace closes funding in round led by KKR</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/?s=cybersecurity" target="_blank">EY: Cybersecurity threats major concern for global corporate sector</a>
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UpGuard, which runs enterprise cybersecurity company CSTAR, has raised $17 million  from Pelion Venture Partners and Square Peg Capital.

Australia's Square Peg joins UpGuard's $17m Series B round

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Australia's Square Peg joins UpGuard's $17m Series B round

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