<article>US-based cybersecurity firm Balbix has closed a $20-million Series B funding round co-led by <a href="https://www.dealstreetasia.com/?s=singtel+innov8">Singtel Innov8</a> and Mubadala Ventures, it said in a statement.</article>

US-based cybersecurity firm Balbix has closed a $20-million Series B funding round co-led by <a href="https://www.dealstreetasia.com/?s=singtel+innov8">Singtel Innov8</a> and Mubadala Ventures, it said in a statement.
Other investors in the round include former Cisco CEO and executive chairman John Chambers, former Cisco executive vice-president and chief development officer Pankaj Patel, entrepreneurs BV Jagadeesh and Gary Gauba as well as existing investor Mayfield Fund.
The fresh funding will be utilised to expand the company and accelerate its growth, said Balbix.
The startup also announced that Patel, Gauba and Singtel Innov8 managing director Jeff Karras will join its board of directors. It has also appointed Jeff True and Chris Griffith as its chief revenue officer and vice president of business development and alliances respectively.
&#8220;Balbix is taking a game-changing approach to address the most fundamental cybersecurity challenges of today, including the ever-increasing volume and complexity of major breaches. The company’s potential impact on the market is exponential and I look forward to supporting Balbix as they strive to digitally secure businesses, governments and citizens alike,&#8221; said Chambers, who is also now the founder and CEO of JC2 Ventures.
Singtel Innov8&#8217;s Karras commented: &#8220;We’ve evaluated hundreds of security startups over the last few years and Balbix’s solutions are among the most innovative. Balbix’s ability to use advanced AI to enable Google-like search together with relevance and contextualization capabilities for cybersecurity and risk assessment is something we haven’t seen before. We are confident that Balbix will have a major impact on the market.”
Balbix focuses on using deep learning and other AI algorithms to predict breaches and provides a specific workflow to improve security and resilience.
“Balbix has a proven leadership team that is addressing fundamental challenges in the global cybersecurity landscape. We are excited to partner with them to create a safer digital ecosystem,&#8221; said Mubadala Ventures chief Ibrahim Ajami.
Launched a year ago, Balbix claimed to have achieved strong market traction with both enterprise customers and global managed security service providers.
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Mubadala Ventures was the other lead investor in the round. The fresh funding will be utilised to expand the company and accelerate its growth.

Singtel Innov8 co-leads $20m Series B round for US-based Balbix

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Singtel Innov8 co-leads $20m Series B round for US-based Balbix

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