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![Red Canary
Focus: Managed detection and responseFunding: $125 millionFounded: 2013
Red Canary is among the pioneers in the rapidly growing market for managed detection and response services. The company offers a range of services designed to help security operations teams detect and respond to threats at the endpoint, on the network, and in the cloud. Market research firm IndustryArc expects that demand for such services will grow at nearly 17% annually to reach $2.2 billion by 2025. Much of the momentum is being driven by organizations faced with a shortage of cybersecurity professionals and growing instances of cyberattacks.
In February, Red Canary secured $81 million in a Series C funding round, led by Summit Partners, which it will invest in product and team expansion efforts. Since its launch, the company has raised over $125 million from various investors.
'[Red Canary is] one of the original players in Managed Detection & Response (MDR),' says Scott Crawford, research director at S&P Global Market Intelligence.
The company entered the space when EDR was relatively new and few organizations had much experience dealing with the technology.
'Red Canary was among the first to make this into its own domain of services,' adds Crawford, who expects Red Canary to continue to be a recognized player in the field as endpoint detection and response (EDR) technologies give way to more extended threat detection and response (XDR) capabilities in the next few years.
Image: Red Canary](https://img.deusm.com/darkreading/Edge/VendorSS/02-orca.jpg)
Focus: Managed detection and response
Funding: $125 million
Founded: 2013
Red Canary is among the pioneers in the rapidly growing market for managed detection and response services. The company offers a range of services designed to help security operations teams detect and respond to threats at the endpoint, on the network, and in the cloud. Market research firm IndustryArc expects that demand for such services will grow at nearly 17% annually to reach $2.2 billion by 2025. Much of the momentum is being driven by organizations faced with a shortage of cybersecurity professionals and growing instances of cyberattacks.
In February, Red Canary secured $81 million in a Series C funding round, led by Summit Partners, which it will invest in product and team expansion efforts. Since its launch, the company has raised over $125 million from various investors.
"[Red Canary is] one of the original players in Managed Detection & Response (MDR)," says Scott Crawford, research director at S&P Global Market Intelligence.
The company entered the space when EDR was relatively new and few organizations had much experience dealing with the technology.
"Red Canary was among the first to make this into its own domain of services," adds Crawford, who expects Red Canary to continue to be a recognized player in the field as endpoint detection and response (EDR) technologies give way to more extended threat detection and response (XDR) capabilities in the next few years.
Image: Red Canary
Focus: Cloud security
Funding: Over $300 million
Founded: 2019
Orca helps organizations detect and defend against security risks in the cloud. The startup's secret sauce is a so-called SideScanning technology that uses a cloud provider's process snapshots — or read-only data — to assess risks to enterprise data. The company describes its technology as having zero impact on production workloads and being very different from tools that rely on data gathered from agents and network scanners to assess cloud security risks.
Orca has attracted massive investor attention since its launch. The company achieved unicorn status earlier this year with a massive $210 million Series C funding round in March, led by CapitalG, Google parent Alphabet's venture division. The company has so far raised a staggering $300 million in combined funding. Among the growing list of organizations using Orca to scan cloud environments for malware, vulnerabilities, misconfigurations, and other risks are Robinhood, Live Oak Bank, BeyondTrust, and Databricks.
"Orca has come to market with the perspective of offering numerous cloud security features with minimal impact or disruption to how teams work," says Fernando Montenegro, an analyst with S&P Global Market Intelligence. "It does this by a combination of techniques, including use of snapshots and by performing deeper analytics to derive context for security alerts."
Image: Orca Security
Jai Vijayan is a seasoned technology reporter with over 20 years of experience in IT trade journalism. He was most recently a Senior Editor at Computerworld, where he covered information security and data privacy issues for the publication. Over the course of his 20-year ... View Full Bio
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