附近上门

Cybersecurity startup raised $60 million in its Series D round, bringing its to more than $148 million.

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The company wanted to raise money before the election year was underway (companies sometimes don鈥檛 like to undergo major financing events during election years because of unpredictability in the markets) and actually completed the fundraising in December, Arctic Wolf CEO Brian NeSmith said in an interview with 附近上门 News. The money was intended to 鈥渂uild a war chest鈥� so the company could be prepared for the future, he said.

Arctic Wolf is a 鈥渟ecurity operations center as a service鈥� company, meaning it provides security experts to act as an extension of a company鈥檚 internal team and handle things like risk management and threat detection.

The latest round was led by and . Other investors in the company include and , according to 附近上门.

鈥淔or a long time, the managed security market has struggled with an acute shortage in security operations talent and misaligned pricing models,鈥� Stereo Capital managing partner Dmitry Dakhnovsky said in a statement. 鈥淲e are excited to back Arctic Wolf as the only scale platform that combines a state-of-the-art technology stack with top class security analysts聽in a single offering. Arctic Wolf brings true enterprise grade security to businesses who would not be able to achieve it on their own.鈥�

Arctic Wolf is expecting to increase its headcount by 55 percent, and in about nine months it will begin international expansion. Currently, the company is mainly selling its services in North America, with Eden Prairie, Minnesota, and Waterloo, Ontario, as the largest company offices.

The new round comes after Arctic Wolf saw its customer base grow by 130 percent in 2019 and its revenue to about 115 percent, according to a statement from the company.

Arctic Wolf鈥檚 revenue has grown by 4,300 percent over the past four years, and it expects that to double this year. The company is on what NeSmith calls a 鈥�10-quarter plan鈥� toward an IPO.

The company is also looking to make some smaller acquisitions in the future, though NeSmith declined to share what kind of companies Arctic Wolf is looking to buy. It has made one acquisition so far, cybersecurity startup in December 2018.

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