Cybersecurity ratings firm SecurityScorecard has raised $180 million of fresh capital as part of a late-stage funding round led by investors such as Silver Lake Waterman, it said on Thursday

The latest round values the company at close to $1 billion, according to a person familiar with the matter. It brings SecurityScorecard’s total funding to date to more than $290 million.

Aside from Silver Lake Waterman, which is the late-stage fund that is housed inside private equity firm Silver Lake, T Rowe Price Associates Inc, Kayne Anderson Rudnick and Fitch Ventures came in as new investors in the round.

Demand for cybersecurity services has increased during the COVID-19 pandemic, as companies spend more to protect the information technology (IT) systems of employees working from home.

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Source: Reuters