NSSLabsNSS Labs, an information security research and advisory company, announced it has raised $16 million in new equity and bank financing.

The Austin-based company plans to use the funds to finance the growth of its security products and cloud-based security and risk management platform.

Delta-v Capital led the round with participation from LiveOak Venture Partners. As part of the deal, David Schaller, managing director of Delta-v Capital, will join the board.

Last year, NSS Labs raised $7 million from LiveOak Venture Partners and Chevron Technology Ventures.

“We were early believers and are thrilled to be reaffirming our investment in NSS Labs,” Venu Shamapant, General Partner of LiveOak Venture Partners, said in a news statement. “With rapidly evolving threats and security products, the need for a tool that allows a security organization to quickly assess whether new exploits can attack them and if so whether their existing security can stop the attacks, is critical. NSS has successfully leveraged its stellar reputation as a trusted source for security product assessments by delivering a first-in-class SAAS offering that is giving enterprises visibility on their cyber security risk.”

NSS Labs gives businesses the tools they need to manage cyber security risks. It has created the “Cyber Advanced Warning System” that is cloud-based software that monitors networks for attacks and tests security prodcuts against those attacks.

“NSS Labs has been on a rapid growth trajectory, and with this new investment from Delta-v Capital, we are thrilled that we can further accelerate our unique offerings to customers around the world,” Vikram Phatak, CEO of NSS Labs, said in a news release.