The round marks the second-largest round by a U.S.-based, VC-backed company this calendar year—behind Cruise‘s $1.35 billion raise earlier this month, according to Crunchbase data.
The round also is cybersecurity’s largest raise since San Jose, California-based cloud security provider Lacework closed a $1.3 billion round in November. That round was cybersecurity’s only one worth $1 billion or more last year, also according to Crunchbase.
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Securonix said previous investors Volition Capital and Eight Roads Ventures also participated in the round and did not release a valuation. Founded in 2008, the Addison, Texas-based company had raised $65 million before the recent round, according to Crunchbase.
The company offers security information and event management (SIEM) and extended detection and response (XDR) capabilities to companies.
In particular, XDR platforms have become quite popular with both larger cybersecurity players and investors. Highly scalable, XDR platforms offer companies better visibility in network and application communication. XDR solutions can read and group related alerts and build timelines concerning attacks by evaluating data found on activity logs.
Those threat detection and response capabilities across endpoints and the network have become even more important with so many people working from home and expanding the attack surface available to cybercriminals.
Nearly a year ago, SentinelOne bought data analytics platform Scalyr for $155 million. That was followed by CrowdStrike buying London-based cloud log management provider Humio for $400 million just nine days later. Both companies mentioned how the acquisitions extend their XDR capabilities by taking in data from logs and applications in real time.
Those deals were followed in July by Boston-based Cybereason, which offers an array of protections including endpoint detection and response (EDR) and XDR, raising $275 million in a financing led by Liberty Strategic Capital, the fund started last year by former U.S. Treasury Secretary Steven Mnuchin.
Illustration: Dom Guzman
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