AirMDR, an AI-based Autonomous Managed Detection and Response (MDR), announced the closing of a $5 million Seed round of financing. This funding round was led by Foundation Capital with participation by Storm Ventures.
AirMDR will use this funding round to expand R&D and fuel market entry. With a reliance on human resources and disparate systems, cybersecurity practitioners and traditional MDRs experience gaps in the quality and speed in which security alerts are managed, triaged, and remediated. At the same time, most SMBs do not have the in-house security expertise and bandwidth to monitor, detect, and respond to the volume of alerts they are receiving.
AirMDR’s virtual analysts deliver on quality, speed, and affordability. And they can answer questions, learn facts, and perform tasks using Natural Language Processing (NLP). Plus, its automated playbooks for investigation, triage, response, and containment are quick to stand up and execute in under five minutes, which takes human analysts over an hour.
Incidents are documented, substantiated, and processed with full transparency for comprehensive remediation and learning. AirMDR supports a business’s tech stack choice with more than 200+ integrations out of the box, which represents 40-50% more than typical MDR providers cover and 90% of the integrations customers will require.
In connection with this investment, Foundation Capital’s Sid Trivedi joined the AirMDR board. Trivedi joins an exceptional team led by AirMDR CEO Kumar Saurabh.
Kumar has two decades of enterprise security and log management experience leading product development efforts at ArcSight and SumoLogic before co-founding LogicHub, which empowers cyber analysts by building intelligence automation.
AirMDR’s executive team also includes CTO Srikant Vissamsetti, whose extensive experience building software, hardware, and management products in cyber security, broadband, and networking spans roles at McAfee, Attivo Networks, and SentinelOne, Chief Product Officer Anand Ramanathan who brings two decades of experience in general management and product line/technical leadership roles with growth-oriented companies and CMO Carolyn Crandall, who has contributed to some of the tech industry’s most remarkable growth stories, from the IPO journeys of Cisco and Nimble Storage, and the acquisition of Attivo Networks by SentinelOne.
KEY QUOTES:
“Cybersecurity threats are now the biggest concern for SMBs. Despite this, there is a significant talent shortage in cybersecurity and half of SMBs don’t have the skills to respond to and recover from cyberattacks. An AI-powered MDR has the potential to bring an effective and affordable platform to enterprises of all sizes, especially SMBs. AirMDR CEO Kumar Saurabh has spent the last two decades founding and building category-defining companies that have changed the SOC tooling landscape—Sumo Logic, ArcSight and LogicHub. We are excited to work with him and the team to leverage the power of LLMs to reduce the cyber inequity gap.”
- Sid Trivedi, Partner, Foundation Capital
“Running a SOC internally can cost well over a million dollars a year, which is unattainable for many companies. With the recent advances in AI, combined with the leverage that automation provides, it is possible to reduce the cost of automation by 10-20x while making it easier to build, use and adapt. Leveraging virtual analysts like AirMDR’s that can outperform 80% of security analysts at detection and response leads to better investigations, faster and enhanced triage of alerts and improved threat posture.”
- Ed Amoroso, Tag Cyber
“The future of MDR involves human analysts supervising and training AI, freeing up their time to tackle the critical 10% of incidents that require human intervention. We are proud to be at the forefront of this transformative shift. While at the moment it is still being supervised, we see a future where AI-powered MDR works like an autonomous self-driving car.”
- Kumar Saurabh, CEO, AirMDR
