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12:15 PM
Jai Vijayan
Jai Vijayan
Edge Features
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11 Cybersecurity Vendors to Watch in 2021

The cybersecurity landscape continues to spawn new companies and attract new investments. Here is just a sampling of what the industry has to offer.

Red Canary

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

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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