Threat Detection And Response Company Vectra Closes $100 Million

By Dan Anderson ● Jun 14, 2019
  • Vectra, a leading company in the network threat detection and response (NDR) industry, announced it closed $100 million in funding led by TCV
  • Existing investors also joined the round and Vectra raised more than $200 million so far

Vectra, a leading company in the network threat detection and response (NDR) industry, announced it closed a $100 million round of funding led by TCV. Existing investors also joined the round. Including this funding round, Vectra has raised more than $200 million.

“TCV has an extensive track record of partnering with enterprise security companies, including Rapid7 and Splunk, from growth stage to public,” said TCV general partner and Vectra board member Tim McAdam. “In our research on the category, it became clear to us that Vectra was rapidly gaining momentum with customers by rethinking the way enterprises view both network and cloud security. The Vectra Cognito platform is poised to become requisite in the security infrastructure of multinational enterprises and midsize businesses alike.”

Vectra is going to use the investment to accelerate global market expansion and R&D innovation — which solidifies the Cognito platform as the market-leading solution for AI-driven cloud security using NDR.

The cloud is known for having critical security gaps that leave enterprises vulnerable. Cyber-attackers take advantage of these gaps without leaving a trail of evidence.

And according to a survey by the SANS Institute, one in five businesses had major unauthorized access to their cloud environment this past year alone and many others were unknowingly breached. Plus the Cognito platform addresses these security gaps by providing 360-degree visibility into cloud, data center, user, and Internet of Things (IoT) infrastructure thus leaving attackers with nowhere to hide.

The Cognito platform accelerates threat detection and investigation using AI for enriching the network metadata it collects and stores with the right context to detect, hunt, and investigate known and unknown threats in real-time.

Plus Vectra offers three applications on the Cognito platform for addressing high-priority use cases: Cognito Stream (sends security-enriched metadata to data lakes and SIEM), Cognito Recall (cloud-based application for storing and investigating threats in enriched metadata), and Cognito Detect (uses AI to reveal and prioritize hidden and unknown attackers at speed).

“The cloud has inherent security blind spots, making it imperative to eliminate cyber-risks as enterprises move their business to the cloud,” added Vectra’s president and CEO Hitesh Sheth. “The Cognito platform enables them to stop hidden cyberattacks in the cloud. We look forward to partnering with TCV and our existing investors as we continue our rapid growth.”

Sheth was the COO of Aruba Networks between 2009 and 2012. And he decided to leave since he found the idea of building security technology from the ground up would be a great opportunity. With this funding round, Vectra is also planning to hire more talent and expand globally.

In 2018, Vectra saw 104% growth in annual recurring revenue compared to 2017. And the company is going to continue ramping up initiatives aimed at addressing the global deficit in cloud security and innovates on its existing platform and expanding its global customer base.