Securonix, the market leader in big data security analytics, announced that it raised USD 29 million in Series A funding to fuel its accelerating growth and leadership in the user behavior analytics, next-gen security information and event management (SIEM), and log management market spaces.
The funding round was led by Volition Capital. Eight Roads Ventures also participated in the round. With this investment, Roger Hurwitz of Volition Capital will be joining the Securonix Board of Directors.
Securonix – The company, which provides technologies to detect, monitor, investigate and manage security threats and risks, has offices across US and in Bengaluru. It uses a Hadoop open data platform and machine learning capabilities to transform massive volumes of data into actionable intelligence.
Securonix will use the funding to extend its investment in technology and for expansion in the domestic and global markets. “Organizations are looking for a solution that detects and responds to threats in real-time, and Securonix’s modern approach and patented machine learning technology positions it to be the market leader in this space,” said Raj Dugar, managing partner, Eight Roads Asia.
Speaking on the occasion, Roger Hurwitz, Managing Partner of Volition Capital mentioned,
“Securonix has the foundation, vision, and management team to lead the security analytics market,”
He further added,
“Securonix’s SNYPR Security Analytics platform is enabling organizations to quickly detect, triage, and mitigate the risks of advanced threats.”
Raj Dugar, Managing Partner, Eight Roads Asia added to Roger, saying,
“We are excited about the opportunity to invest in Securonix as the company continues its global growth. Organizations are looking for a solution that detects and responds to threats in real-time, and Securonix’s modern approach and patented machine learning technology positions it to be the market leader in this space.”
The company’s dramatic growth is driven by the significant increase in its customer base domestically and across EMEA, APJ and Latin America. Securonix customers span across industry verticals and include more than a third of the Fortune 500 companies. Over the past year, Securonix has grown from 180 employees to over 300 located across the globe.
Sachin Nayyar, CEO and Founder of Securonix was very excited about the development and said,
“I am very excited to have high-caliber investors like Volition Capital and Eight Roads that understand our business and share our passion for innovation, customer satisfaction, and global market leadership. We have a tremendous opportunity to establish Securonix as a platform of choice for security analytics, and this investment and the experience the partners bring will help us reach that next level of growth.”
With the cyber age being at its helm, the rate of cyber crimes has also gone up. If we go by history, the attacks are increasing not only in volume but also in variety. Hence, it is a great opportunity for Cyber security firms to lead the way towards a safer and better cyber environment.