Business

Cybersecurity firm gets a $30m investment

Boston-based cybersecurity firm Rapid7 has raised an additional $30 million from two of its investors.

The software company, whose software is designed to detect unauthorized intrusions into corporate networks and prevent hackers from stealing senstitive data, received a new cash infusion from Bain Capital and Technology Crossover Ventures, a California-based investor.

“Cyber security risks and challenges are increasing fast and customers are looking for leaders that can help them understand and address the threat,” said Ben Nye, a managing director at Bain Capital, in a statement. “As a result, the company is experiencing impressive growth and has a compelling future.”

Advertisement

Rapid7 was founded in 2000, and in 2011 raised $50 million in its series C funding round. Corey Thomas, the company’s chief executive, said it would use its latest investment to fund new software development and increase its market share.

Jack Newsham can be reached at jack.newsham@globe.com. Follow him on Twitter @TheNewsHam.