- Securonix — a leader in Next-Gen SIEM — announced it has raised $24 million in funding from Capital One Ventures as part of a strategic partnership. These are the details.
Securonix — a leader in Next-Gen SIEM — announced it has raised $24 million in funding from Capital One Ventures as part of a strategic partnership. The company also announced that Jay Emmanuel, Partner at Capital One Ventures, is joining the company’s board of directors as a board observer, effective immediately.
This strategic investment allows Securonix to continue to accelerate hypergrowth driven by demand for its Cloud SIEM platform. And through this partnership, Securonix will collaborate with the Capital One team to develop new product use cases for monitoring cyberattacks, insider threats, fraud, application security, and OT/IoT security, and drive wider adoption of its Cloud SIEM platform across financial services and other industry segments.
Securonix is known for offering SaaS-based, multi-tenant security analytics that provide complete visibility, and unlimited scalability with no infrastructure cost. And Securonix currently serves 5 of the Global Fortune 10 and has a growing customer base across industry verticals and geographies. Growth points highlighting the company’s recent business traction include:
– 55% YoY growth in annual recurring revenue (ARR)
– 200% YoY growth in SaaS customer bookings
– 142% YoY growth in overall customer bookings
– 54% YoY growth in number of employees
KEY QUOTES:
“Capital One has enjoyed unprecedented success in executing a cloud-first strategy to rise to the top of its industry and is an ideal partner in allowing us to further establish our leadership position in cloud-native security analytics and operations. Joining Capital One’s world-class investment portfolio alongside transformative cloud-native companies, such as Snowflake, strengthens our ability to deliver best-in-class Cloud SIEM while accelerating product innovation and company growth.”
— Sachin Nayyar, CEO, Securonix
“We are highly selective and strategic in choosing portfolio companies that define the future of enterprises in the cloud. As a cloud-native security company, we understand the massive market opportunity Securonix has as organizations are increasingly exposed to the challenges of securing systems and digital services across complex cloud and distributed environments. It’s an honor to welcome Securonix to the Capital One Ventures portfolio and play a role in the company’s continued growth and long-term success.”
— Jay Emmanuel, Partner at Capital One Ventures
