Hunters, the security operations center (SOC) platform, announced today that they have raised $68 million in a Series C funding round led by growth equity firm Stripes. This round included participation from existing investors, but also saw new investor involvement from DTCP, Cisco Investments and Databricks.
A hunter to keep you safe
The security information and event management (SIEM) market is worth $4.3 billion annually, but it drives limited security outcomes for its customer. Essentially, players in this category focus on data ingestion and leave customers to build their own detection engineering and investigation capabilities or have significant gaps in scale and pricing models. That is where Hunters comes in; their platform was built to help overly stressed security teams mitigate real security incidents faster and more effectively.
Hunters’ SOC platform empowers security teams to automatically identify and respond to incidents that matter across the entire attack surface. They do so with vendor-agnostic data ingestion and normalization at a predictable cost from all security data sources; they use built-in detection engineering, data correlation and automatic investigation to help security teams overcome volume, complexity and false positive. Since Hunters mitigates real threats faster and more reliably than SIEMs, thus reducing clients’ overall security risks, more and more global enterprises, including leading Fortune 500 companies in financial services, media, retail, and manufacturing are choosing Hunters as their main SOC platform to replace their SIEM.
This funding round underscores the opportunity for Hunters to become a market leader in security operations. The money will be used to further innovate their platform and services, strengthen their sales and partnerships across North America and EMEA and help continue to invest in exceptional talent that fits the company’s culture. The strategic investors involved in this round, such as Cisco Investments, Snowflake, Databricks and Okta, will help Hunters outreach to the world’s largest organizations. Since 2021 was a huge year for Hunters as the company, as their ARR grew more than 4 times, it will be no surprise that they continue to grow with these new funds.
“After meeting the Hunters team and hearing customers rave about the product, we have a strong conviction that they are poised to conquer one of the biggest markets in security as customers are seeking a modern solution that makes life easier for security teams,” said Ken Fox, founder, and partner at Stripes.
Hunters was founded in 2018 by Uri May (CEO) and Tomer Kazaz (CTO). The company has raised $118 million to date, with existing investors YL Ventures, Bessemer Venture Partners, Microsoft’s venture fund M12, U.S. Venture Partners, Blumberg Capital, and Snowflake Ventures. Known customers include Booking.com, Snowflake, Netgear and Cimpress.