Monday, July 22 2024

Securonix, Inc., a leader in Next-Gen security information and event management (SIEM) and extended detection and response (XDR), today announced it has received a more than $1 billion growth investment led by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, with participation from Volition Capital and Eight Roads Ventures. The investment gives Securonix the capital and expertise to continue its hypergrowth trajectory while meeting record customer demand, further validating its leadership position in cloud-native security analytics and operations.

“Securonix is driven by technology innovation and a passionate mission to address the cybersecurity challenges faced by organizations globally. We solve a very tough problem that requires excellence across multiple domains, including product engineering, threat detection/hunting, data science, and operations. This funding will help us accelerate investments in these areas and continue to provide a world-class service to our customers,” said Sachin Nayyar, CEO and co-founder, Securonix. “We pioneered User Entity Behavior Analytics (UEBA) with an analytics-centric approach to security monitoring, extended to next-gen SIEM with a scalable cloud-native architecture, and introduced Open XDR and SOAR capabilities to deliver a true end-to-end security operations fabric for threat detection and response. Our goal is to extend this to the application layer and to OT and IoT. Vista’s proven track record of partnering with next-gen, hypergrowth SaaS companies will advance our mission and allow us to help our customers solve these problems.”

Securonix offers the leading SaaS-based, multi-tenant security analytics, operations and response platform that provides complete visibility, advanced detection and response, and unlimited scalability. Securonix currently serves five of the Global Fortune 10 and accelerated its growth over the past 12 months, which is demonstrated through:

  • 100% SaaS ARR growth
  • 240% YoY new MSSP logo bookings growth
  • 100% YoY employee headcount growth, eclipsing 1,000 employees worldwide

The company was named a Leader for the third consecutive time in the 2021 Gartner Magic Quadrant for Security Information and Event Management (SIEM)[1], positioned furthest for completeness of vision, and scored highest across all three use cases in the 2021 Gartner Critical Capabilities for Security Information and Event Management (SIEM)[2]. Recent product innovation includes new flexible deployment models including ‘Bring Your Own Snowflake’ and ‘Bring Your Own AWS’ that align with customers’ cloud strategies and overall business needs, and the launch of Securonix Open XDRSOAR, and Autonomous Threat Sweeper (ATS).

“As a next-gen SaaS company with a strong leadership team, differentiated platform, and passionate customer base, Securonix is leading the SIEM and XDR markets at a time of significant transformation,” said Michael Fosnaugh, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “It’s a privilege to partner with talented founders like Sachin and Tanuj, and we look forward to supporting the entire Securonix team to help advance their vision and set the standard for modern security analytics and operations.”

The new funding allows Securonix to make significant investments in global talent acquisition, adding senior leaders across engineering, cloud operations, threats labs, and sales and marketing. As a Vista portfolio company, Securonix will benefit from its industry expertise with next-gen SaaS companies and a vast ecosystem to help scale operations and accelerate product innovation.

“Since inception, Securonix has been steadfast in its commitment to develop innovative products that solve the difficult problem of identifying and responding to advanced security threats while meeting the needs of scalability, cloud readiness, and operational efficiency,” said Tanuj Gulati, CTO and co-founder, Securonix. “We look forward to this partnership with Vista to support our goal of enabling leading enterprises and managed service providers to secure their infrastructure, network, and applications against advanced threats with speed and efficiency.”

“Securonix has established a mission-critical business that is uniquely qualified and well positioned to redefine the SIEM industry,” said Rod Aliabadi, Managing Director at Vista. “We are excited to partner with their exceptional team as they expand into new markets and continue to innovate with their products and solutions.”

Citi is serving as exclusive financial advisor to Securonix, and Fenwick & West LLP is acting as legal counsel. Kirkland & Ellis LLP is serving as legal counsel to Vista.

Sachin Nayyar, chief executive officer of Securonix
Previous

KSOC Raises $6 Million Seed Round to Secure Kubernetes

Next

CTI Networking Report

Check Also

Widget

Don’t Miss

Sevco Security Platform Product Review

Ellie Buscemi

What is the Sevco Security Platform? The Sevco Security Platform is a cyber asset attack service management (CAASM) product that focuses on aggregating and correlating data from across a company’s cybersecurity infrastructure to give cybersecurity professionals a better sense of what the company’s infrastructure looks like as a whole. The platform’s sources include a company’s […]

Cyber Deals: Huntress, Cyberhaven, and SpyCloud

CISOstack

Cybersecurity Surge: Top Funding Rounds and Strategic Acquisitions Fuel Growth in AI, Cloud Security, and Threat Prevention Solutions

Fidelis Elevate: A Deep Dive

Ellie Buscemi

What is Fidelis Elevate? Fidelis Elevate is an open extended detection and response (open XDR) solution focusing on network protection, endpoint security, and cyber attacker deception. The platform aims to protect various elements of a company’s infrastructure, such as devices and servers while tracking suspicious behavior and preventing access to cyber criminals. What features does […]

Partially closed laptop screen

Best Extended Detection and Response (XDR) Solutions

Lara Oporto

What is Extended Detection and Response and how does it work? Extended Detection and Response (XDR) is a cybersecurity system that gathers information from different places like computers, networks and emails. Unlike other security tools that focus on one area like computers or networks, XDR looks at everything together. The comprehensive approach helps to find […]

Close up of computer chip

Best Managed Detection and Response (MDR) Solutions

Lara Oporto

What is Managed Detection and Response? Managed Detection and Response (MDR) is a cybersecurity service that provides continuous monitoring, threat detection and incident response capabilities. MDR achieves these capabilities through the deployment of advanced technologies such as machine learning and behavioral analytics as well as analysis from security professionals. MDR is a cybersecurity service that […]

Best Hyperconverged Infrastructure Software

Ellie Buscemi

What is Hyperconverged Infrastructure and how does it work? Hyperconverged infrastructure (HCI) is a software that provides computing, storage and network operations for a company from a single point on a company’s hardware. Originally, computing, storage and network operations were divided in a company’s hardware infrastructure and potentially provided by separate vendors with different management […]