NEWTON, Mass. & TEL AVIV, Israel--(BUSINESS WIRE)--Hunters today announced a $30 million Series B round led by Bessemer Venture Partners, with participation from existing investors YL Ventures, Blumberg Capital, Microsoft's Venture Fund M12 and U.S. Venture Partners (USVP). The new funding brings the total investment to $50.4 million. The previous financing round also included Okta Ventures and Snowflake as strategic investors.
"Hunters' customer engagements are accelerating with Fortune 1000 companies adopting XDR to be at the heart of their security operations," said Uri May, CEO and co-founder of Hunters. "Traditional security tools like SIEM have not fulfilled the need to clearly and rapidly identify and investigate threats at the scale of cloud data, leaving a crucial gap in supporting security analysts. Open XDR offers a new technology approach with a turn-key solution that stitches security events from across the entire security stack into contextualized and prioritized incidents. This maximizes the value security teams are getting from their current stack and enables them to see real incidents and rapidly respond."
Companies targeted by complex security threats select Hunters XDR for its proven ability to accelerate threat detection, investigation and incident response. Among them are recognized brands in the financial services, technology, retail, manufacturing and media industries.
"At NETGEAR, we support a complex IT environment. To keep pace with our rapidly growing business and the evolving threat landscape, we switched from a SIEM to Hunters XDR," said Mihir Shah, Vice President of Information Technology at NETGEAR, one of the world’s leading network solution manufacturers, with offices in 25 countries. "Hunters now serves as our core SOC (Security Operations Center) platform. It enabled us to shift from manual to automated incident investigation and focus on incident resolution instead of tool management and IT complexity."
"Hunters represents the future of security architectures, leveraging the performance and cost advantages of cloud data warehouses and Open XDR technology to deliver detection and response capabilities that were not historically possible on-premise,” said Alex Ferrara, Partner at Bessemer Venture Partners. "Hunters' unique ability to identify low-fidelity signals of an attack that are traditionally missed and automatically stitch them together into a contextual attack story is a game-changer that helps organizations better address their cybersecurity risk, specifically for companies undergoing rapid cloud expansion and business growth."
"Today’s security operations have to support mixed multi-cloud and on-prem environments, as well as handle security data at cloud-scale. Its breakthrough technology and recent growth positions Hunters to disrupt the $4.3 billion SIEM market that’s predominantly built on pre-cloud technologies,” said Ofer Schreiber, Partner at YL Ventures, that co-led Hunters' seed round alongside Blumberg Capital.
"Hunters' innovation stems from its focus on SOC analysts which is especially critical in light of the shortage in security talent," said Yodfat Harel Buchris, Managing Director at Blumberg Capital, who co-led Hunters’ seed round. "Unlike other tools, the platform was purpose-built to offload non-mission-critical tasks, automate detection and investigation, and provide SOC analysts with a clear understanding of every detected security incident, helping achieve faster resolution."
"This investment takes us one step closer to building a pillar security company, becoming the centerpiece of the future SOC of the world’s leading organizations,” said May. “The investment will be used to further drive innovation, enhance our customer satisfaction, increase our market reach, support partner expansion and hire exceptional talent."