Demisto, a company that is considered a leader in Security Orchestration, Automation and Response (SOAR) technology, has announced that it has raised $43 million in Series C funding led by Greylock Partners. Early investors Accel Partners, ClearSky Security, and several others also participated in this round. This brings Demisto total funding to $69 million.
With this round of funding, Demisto plans to drive its go-to-market expansion and accelerate the adoption and deployment of its SOAR platform. And the company plans to take SOAR beyond Security Operations Center (SOC) use cases.
“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 in a statement. “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.”
What does Demisto do? The company’s security orchestration and automation tools enable standardized and automated responses across the security product stack of organizations. These playbooks are powered by thousands of security actions that make accelerated and scalable incident responses possible.
Demisto has seen a 300% year-over-year customer growth in 2017. And Demisto already acquired more customers in the first half of 2018 than it did during the entirety of 2017. Demisto’s customer base includes dozens of Fortune 500 companies so the company tripled the size of its customer success team to meet the growing demand.
Yaron Levi, the CISCO of Blue Cross Blue Shield Kansas City, said that Demisto’s automation is the central piece of its security operations. “It’s the hub that connects our security tools operations, alert ingestion, and event correlation before executing response actions to close the incident loop,” explained Levi.
Some of the new features that Demisto launched include Investigation Canvas, which improves the visualization of attack campaigns and end-to-end automation of Amazon Web Services (AWS) cloud security processes. And several hundreds of enhancements suggested by existing customers and partners were also added to its products recently.
“Demisto is rapidly gaining momentum as the leading security operations platform,” added Greylock Partners general partner Sarah Guo. “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.”
