Virtualization Technology News and Information
Article
RSS
Demisto "SOAR"s to New Heights with $43 Million Investment

Demisto, a leader in Security Orchestration, Automation and Response (SOAR) technology, today announced the closing of a $43 million Series C funding round led by Greylock Partners. Demisto will leverage these funds to drive global go-to-market expansion, accelerate adoption and deployment of its industry-leading SOAR platform, and take SOAR well beyond Security Operations Center (SOC) use cases. Additional investors participating in this funding round include early investors Accel Partners, ClearSky Security and others, bringing total funding to date to $69 million.

"Demisto is rapidly gaining momentum as the leading security operations platform," said Sarah Guo, General Partner at Greylock Partners. "We are excited to lead Demisto's Series C, and look forward to supporting Demisto as it builds an important security company that helps a global customer base get leverage against adversaries."

Amidst fast-growing adoption of SOAR technologies, this latest investment underscores Demisto's leadership in enabling security teams to automate incident response across disparate security environments. Demisto's security orchestration and automation enables standardized, automated, and coordinated response across an organization's security product stack. Playbooks powered by thousands of security actions make scalable, accelerated incident response a reality.

"Our vision has always been to become the de-facto workbench of the security analyst, providing them with a simplified console that unifies intelligence and actions response at scale," said Demisto CEO Slavik Markovich. "Demisto has attained significant momentum and built up market share during the last 12 months, and we are quickly building a large global company like no other in our field. We owe our success so far to our customers, for their early adoption, trust, and collaboration towards product development efforts."

Growing SOAR Adoption Drives Demisto Momentum

  • Accelerated enterprise adoption: After 300% year-over-year customer growth in 2017, Demisto has already acquired more customers in the first half of 2018 than it did during the entirety of 2017. This customer base includes dozens of Fortune 500 companies. Demisto has tripled the size of its customer success team to meet the growth demand.
  • Industry recognition: Demisto was named a 2018 Gartner Cool Vendor in Security Operations and Vulnerability Management.
  • Growing SOAR market: Gartner's research into the SOAR market projects a rise in enterprise adoption from 1% in 2018 to 15% in 2020.

Demisto's Product Continues to Lead the Security Market

Demisto recently launched v4.0 of its product expanding the platform into advanced threat hunting, cloud security and more. New features, not available in any other SOAR product, include an Investigation Canvas that improves security analysts' visualization of attack campaigns, and end-to-end automation of Amazon Web Services (AWS) cloud security processes and hundreds of other enhancements suggested by existing customers and partners.

Published Wednesday, October 10, 2018 5:38 PM by David Marshall
Filed under:
Comments
There are no comments for this post.
To post a comment, you must be a registered user. Registration is free and easy! Sign up now!
Calendar
<October 2018>
SuMoTuWeThFrSa
30123456
78910111213
14151617181920
21222324252627
28293031123
45678910