Venrock Leads Round
The round of funding was led by first-time investor Venrock with participation from Kleiner Perkins, enabling Interos to further invest in its data science and engineering teams to boost sales and capitalize on the company’s strong 2019.
“Interos is one of the most creative, big data-, AI-driven companies I’ve come across in the last five to 10 years,” said Nick Beim, Venrock Partner. “Over the last 20 years, global supply chains have grown so rapidly and with so much opacity that most companies don’t know who they’re working with or who they’re dependent on. There’s just so much data to gather to understand those risks, and Interos has jumped into a significant lead in helping companies understand these urgent, strategic issues with a brand new set of capabilities.”
Company accelerates momentum after strong 2019
2019 was a banner year for Interos and saw a 700% increase in annual recurring revenue and a 693% increase in SaaS bookings. With this latest round of funding, Interos expects to more than double its personnel in 2020, building an even more robust version of their proprietary third-party risk management software, which discovers and visualizes critical supply chain risks for large enterprise businesses and the federal government.
CEO Jennifer Bisceglie highlights company’s successful record
“After a strong 2019, this funding shows Interos has already secured major support in 2020 from the world’s most successful investors,” said Jennifer Bisceglie, CEO and founder of Interos. “Like our customers, investors see the value of the Interos platform, which is critical for global businesses in 2020. From the coronavirus to political unrest, companies need a platform that exposes risks and identifies how events affect suppliers around the world the moment they happen.”
Interos adds Phil Venables to Board of Directors
Interos also recently added Phil Venables, a widely sought-after cybersecurity and risk expert to its board of directors. Mr. Venables’ distinguished career includes previously serving as Goldman Sachs’ first Chief Information Security Officer and Head of Technology Risk, and as their Chief Operational Risk Officer. Prior to his work at Goldman Sachs, Venables was the Chief Information Security Officer at Deutsche Bank. Venables also serves on the Executive Committee of the US Financial Services Sector Coordinating Council for Critical Infrastructure Protection.
To learn more about recent Interos funding, read the Press Release. To learn more about Interos, visit Interos.ai.