AlienVault, cyber security and threat intelligence provider has closed $52 million in Series E round of funding led by Institutional Venture Partners along with existing investors Trident Capital, Kleiner Perkins Caufield & Byers, GGV Capital, Intel Capital, Correlation Ventures, Top Tier and Sigma West.
Founded in 2007, AlienVault provides cybersecurity solutions to companies that lack sufficient staff, security expertise, technology or cannot afford to defend against modern threats. It offers a UTM platform called Unified Security Management and a large crowd-sourced threat-intelligence network called Open Threat Exchange. These two solutions target the medium-sized and small businesses that seeks security infrastructure in place.
“At Alien Vault, we unify the security products, intelligence and community while enable all organizations – regardless of size – to quickly detect and respond to today’s threats,” said Barmakk Meftah, president and CEO of Alien Vault. “This round of funding will allow us to make the investments needed to rapidly expand our reach into this large market opportunity.”
With the newly injected funds, the company plans to widen its global sales and marketing programs. Also, it has plans to increase investments in product innovation for both its platforms. “The funds, experience and profiles fit the late stage of growth that we are in now. We are pretty excited to accelerate growth above and beyond what we have been at,” said Meftah.
“AlientVault is a security visionary, focused on developing a new category of unified security management and actionable threat intelligence. Their products help companies detect and deflect targeted attacks in an efficient and timely manner,” said General Partner at IVP Steve Harrick. “AlientVault offers organizations a unique solution to protect their sensitive data and core infrastructure. We are especially impressed by the company’s strong executive solution to protect their sensitive data and core infrastructure. We were especially impressed by the company’s strong executive team and board, their practical approach to the market and their enthusiastic and devoted customers.”
AlientVault claims it offers services to more than 2000 customers and government organizations including Columbia University. Peet’s Coffee & Tea, NASA and Save Mart. As a means of recognizing the value of its approach to deliver affordable security solutions, the company has been rated in the Visionary quadrant of the 2015 Gartner Magic Quadrant for Security Information and Event Management (SIEM). It has shown a growth of 65% over year and adding new customer growth is more than 75% over the same period.