NEWTON, Mass. & TEL AVIV, Israel--(BUSINESS WIRE)--Hunters announced today a $68 million Series C round led by growth equity firm Stripes, with participation from new investors DTCP, Cisco Investments and Databricks, and existing investors YL Ventures, Bessemer Venture Partners, Microsoft’s venture fund M12, U.S. Venture Partners, Blumberg Capital and Snowflake Ventures. The new funding brings the total investment in Hunters to $118 million.
Hunters’ SOC Platform empowers security teams to automatically identify and respond to incidents that matter across the entire attack surface. Global enterprises, including leading Fortune 500 companies in financial services, media, retail and manufacturing choose Hunters as their main SOC platform, replacing their SIEM.
Hunters’ ability to ingest and normalize data from all security data sources at a predictable cost is key to seeing and stopping attacks. Its built-in detection engineering, data correlation and automatic investigation helps security teams overcome volume, complexity and false positives.
“The SIEM market is worth $4.3 billion and is ripe for disruption since it drives limited security outcomes for its customers,” said Uri May, CEO and co-founder of Hunters. “Players in this category focus on data ingestion and leave customers to build their own detection engineering and investigation capabilities or have significant gaps in scale and pricing models. Hunters was purpose built to help the overly stressed security teams mitigate real security incidents faster and more effectively.”
“After meeting the Hunters team and hearing customers rave about the product, we have strong conviction that they are poised to conquer one of the biggest markets in security as customers are seeking a modern solution that makes life easier for security teams,” said Ken Fox, founder and partner at Stripes and board member at Hunters. “2021 was a huge year for Hunters as the company grew ARR by more than 4x, and we are excited for them to build on this momentum in the coming year.”
“Hybrid work demands a new look at security as employees and devices can be anywhere, moving on and off company networks,” says Janey Hoe, vice president, Cisco Investments. “It’s imperative that we make it easy for teams to protect critical security control points – users, devices, networks, apps & data - no matter where they are. Hunters provides rich telemetry and out-of-the-box integrations that security operations and risk management teams need to connect the dots across these environments.”
"For over three years, Hunter’s cloud-native architecture and automation have enabled security teams to adopt the security data lake model,” said Stefan Williams, Head of Corporate Development at Snowflake. “Hunters, a Powered By Snowflake partner, is a great example of how investing in best-in-class solutions built using Snowflake extends our ability to mobilize data and contributes to the powerful network effects of Snowflake’s Data Cloud."
“This new round of funding, coming only a few months after our previous round, underscores the opportunity for Hunters to become a market leader and the centerpiece of Security Operations. Our strategic investors Cisco Investments, Snowflake, Databricks and Okta are a force-multiplier for our outreach to world’s largest organizations. The funding will be used to further innovate in our platform and services, to strengthen our sales and partnerships across North America and EMEA and to help us continue to invest in exceptional talent that fits our company culture, which is driving our company to new frontiers and to conquering the market,” May said, noting that Hunters’ growing team has doubled in size over the past year.
Hunters’ SOC Platform empowers security teams to automatically identify and respond to security incidents across their entire attack surface. We enable vendor-agnostic data ingestion and normalization at a predictable cost. Our built-in detection engineering, data correlation, and automatic investigation helps teams overcome volume, complexity, and false positives. Hunters mitigates real threats faster and more reliably than SIEMs, ultimately reducing customers' overall security risk. Learn how enterprises like Booking.com, Snowflake, Netgear and Cimpress leverage Hunters’ SOC Platform to empower their security teams at https://hunters.ai.
Hunters is backed by leading VCs and strategic investors including Stripes, YL Ventures, DTCP, Cisco Investments, Bessemer Venture Partners, U.S. Venture Partners (USVP), Microsoft’s venture fund M12, Blumberg Capital, Snowflake, Databricks, and Okta.
Hunters was recognized as the SC Media 2021 Trust Award Finalist for Best Threat Detection Technology and winner of the CISO Choice Awards: Security Analytics and Security Operations.
Additional Supporting Quotes
YL VENTURES “Hunters boldly plunged into a huge and established market that was ripe for disruption, and upended it,” said John Brennan, partner at YL Ventures, a global cybersecurity VC that has funded Hunters since its seed round. “What began as an automated threat hunting platform evolved into a proper SIEM replacement and an industry platform-of-choice for SOCs, transforming the heart of enterprises’ security operations. With a growing list of Fortune 500 customers and staggering growth over the past year, Hunters is continuing to prove its value - and groundbreaking technology - to the cybersecurity market.”
DTCP “Hunters’ turn-key cloud native data and security platform is a powerful disruption to the multi-billion-dollar SIEM market, allowing SOC teams to aggregate and correlate all sources of security data to effectively identify and respond to security incidents across the enterprise. We are incredibly impressed by the management team and the company’s excellent execution and growth,” said DTCP Partner, Irit Kahan. “We are thrilled about investing in the current financing round and supporting the company in the next phase of growth.”
BESSEMER VENTURE PARTNERS “Uri and the Hunters team are the first to deliver a SOC platform that is designed ground-up to natively leverage cloud, evolving the industry to a new paradigm of scalable performance at predictable cost,” said Alex Ferrara, Partner at BVP. “This new cloud-based approach to SIEM and XDR is critical to SOC teams as they operationalize growing volumes of security data in the fight to keep up with increasingly sophisticated cyber threats.”
USVP “Since our Series A investment, the company has executed flawlessly and has added numerous lighthouse enterprise customers. It has established itself as the clear leader in the SOC Platform market and has been recognized by data storage and security industry leaders as the key partner to augment or replace traditional SIEM solutions,” said Jacques Benkoski, Partner as U.S. Venture Partners. “This financing will enable it to accelerate its expansion and meet the tremendous market thirst for its transformative approach to the SOC operations.”
MICROSOFT’S VENTURE FUND M12 “In today’s SOCs, there are several taxes on valuable time: false positives to chase down, an increasing number of tools to manage, and disjointed security data to correlate. Security teams endure a constant onslaught of 'noise,' leaving attack surfaces more vulnerable, and ultimately putting the business at risk,” said Mony Hassid, Managing Director and Head of EMEA, M12. “Since our initial investment in Hunters in June 2020, we've seen the outstanding progress made by the Hunters team in becoming a leading SOC platform, empowering security teams to identify and respond to the incidents that matter.”
BLUMBERG CAPITAL “We are proud of our partnership with Hunters from its inception through the company’s growth into a global business that secures organizations worldwide,” said Yodfat Harel Buchris, Managing Director at Blumberg Capital, who co-led Hunters Seed round. “Hunters’ SOC Platform is playing a critical role in mitigating the global shortage of 3M security professionals by automatically mapping, identifying, and prioritizing security threats across the enterprise perimeter - a growing concern for CISOs in this era of data influx and distributed environments.”