Risk management startup Interos landed $17.5 million in a new round of funding, the company announced Thursday.
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Interos ingests more than 85,000 information feeds a month and uses machine learning across five risk factor categories to understand which risk factors are important to customers and could disrupt their supply chain. The company looks at financial risk, operational risk, geographic risk and cyber risk.
In CEO Jennifer Bisceglie’s words, Interos is “building the world’s largest business relationship graph.”
“Both of them (Venrock’s Nick Beim and KPCB’s Ted Schlein) understood the fact that this is a big data problem,” Bisceglie said in an interview with Crunchbase News. “This is something we’ve tried to do with humans and spreadsheets for many years and we simply cannot continue to do it that way.”
Last year was a period of significant growth for the company. Interos tripled its headcount in 2019 and saw its annual recurring revenue grow by 700 percent, according to a statement from the company.
Half of the new funding will go toward engineering and data science, and the other half will be for sales and marketing, Bisceglie said. The company, which is based in Arlington, Virginia, will be expanding its office this year with plans to hire at least 80 people.
Illustration Credit: Li-Anne Dias