Anvilogic, the industry’s first multi-data platform SIEM, announced closing a $45 million Series C funding round, bringing its total funding to date to $85 million since being founded in 2019. This funding round was led by Evolution Equity Partners, with participation from existing investors Foundation Capital, Cervin Ventures, Myriad Ventures, Point72 Ventures, Outpost Ventures, Stepstone Group, and G Squared.
Anvilogic will use the funding round to expand its generative AI features for additional use cases across the entire Security Operations Center (SOC) lifecycle and scale up its go-to-market efforts.
Due to the high cost, only half of security-relevant data is usually sent to a traditional SIEM. Data not sent to the SIEM is unavailable for threat detection, risking the business. So, security operations teams struggle to detect high-risk threats in their environment while simultaneously managing spiraling SIEM licensing costs. As enterprises shift more workloads to the cloud, where infrastructure requires massive scalability and data storage, this compounds the issue.
The rapid adoption of cloud apps and services makes cloud threat detection challenging for legacy SIEMs, who cannot often correlate detections across multi-cloud and on-prem environments. Adopting a more scalable data platform, like Snowflake, is up to 80% more cost-effective and could address these challenges. However, replacing the organization’s longtime SIEM is unrealistic for many security teams.
Quadrupling growth since the Series B funding round in 2022 by helping dozens of customers break the SIEM lock-in that drives detection gaps and high costs for enterprise SOCs, Anvilogic decouples security analytics from logging platforms. This allows detection engineers and threat hunters to use their existing SIEM while seamlessly adopting a scalable and cost-effective data lake for high-volume data sources and advanced analytics use cases. By eliminating the need for rip-and-replace, Anvilogic allows security leaders to confidently join the rest of the enterprise on the modern data stack, saving millions without disrupting existing processes.
Anvilogic also announced the second generation of its copilot, Monte Copilot, which is now available for beta. And Monte Copilot extends these capabilities to threat hunting and alert investigation to help accelerate analysts’ workflows. Anvilogic’s unique approach to addressing these use cases takes full advantage of the model training and inferencing capabilities provided by modern data platforms such as Snowflake, combined with our content-rich detection armory and domain-specific data models.
Anvilogic was launched by Karthik Kannan, serial entrepreneur and former head of Splunk’s Security Analytics business, and Deb Banerjee, former VP and Chief Architect at Proofpoint and Symantec. And Anvilogic has dozens of enterprise customers, a third of which are Fortune 500s. Security operations teams at banks, airlines, and large tech companies utilize Anvilogic’s modular detection engine, thousands of curated threat scenarios, and SOC copilot to improve detection coverage and save millions of dollars.
KEY QUOTES:
“Anvilogic’s solution helps security teams reduce risk while cutting SIEM costs. Its innovative multi-data platform approach is a game changer for SOCs that want to adopt a modern security analytics platform that scales across diverse data lakes and without having to rip-and-replace their monolithic SIEM. The team, technology, continued explosion of data, particularly from the adoption of AI, and the significant value delivered to customers made it an easy decision for us to invest. We’re excited to support the journey and unique vision.”
- Karthik Subramanian, General Partner, Evolution Equity Partners
“We’re in an era where data is the new oil. We’re generating it at an unprecedented rate, and, consequently, the cost pressure on our Security Information and Event Management (SIEM) systems is increasing exponentially. This is the dawn of a new SIEM era where cost-effective, scalable data lakes are the nerve centers of our security architecture. An era where we run security analytics on top of our data where it resides. Anvilogic has been instrumental in automating our security operations and providing this multi-data platform SIEM experience for our analysts.”
- Roland Costea, CISO, Enterprise Cloud Services at SAP
“The interest from SOC teams in adopting a data lake strategy to control their legacy SIEM costs continues to grow. Next-generation SIEMs on the market today force a rip-and-replace of the customer’s existing SIEM investment, which is a non-starter for most security teams. As enterprises look for new ways to cut costs while closing detection gaps across hybrid and multi-cloud environments, we can help them modernize their security operations for a growing number of data platforms and use cases*.** To raise this growth round at this moment in time is a validation of our multi-data platform approach and success in the enterprise market. We look forward to further streamlining operations for the SOC as we continue building out additional generative AI capabilities.”*
- Karthik Kannan, CEO and founder of Anvilogic
