SOC-as-a-Service Firm Arctic Wolf Networks Raises $45 Million
27.10.2019 securityweek IT
Arctic Wolf Networks, a Sunnyvale, Calif.-based company that offers outsourced security operations center (SOC) services, announced this week that it has raised $45 million in series C funding led by Future Fund. The company has raised a total of $91.2 million to-date.
The company offers a turnkey “SOC-as-a-Service” that includes what the company calls a “Concierge Security Engineer” (CSE) that serves as a single point of contact for a customer and an extension of a customer’s internal security team.
Founded in 2012, Arctic Wolf eliminates the need to build a SOC and also helps companies combat the cyber-security skills shortage. The company provides customers with 24×7 monitoring, tailored alerts, and incident investigation and response.
With no hardware or software purchase needed, Arctic Wolf’s end-to-end service installs in minutes to immediately provide threat detection.
The new funding round saw participation from Adams Street and Unusual Ventures, which joined existing investors, Lightspeed Venture Partners, Redpoint Ventures, Sonae Investment Management and Knollwood Investment Advisory LLC.
The company plans on using the new funding to accelerate growth and meet demand for its SOC-as-a-service offering.
The company more than doubled its workforce over the past year, and currenty employs 166 people across four North American offices.
“Our growing team of security engineers is redefining the economics of security to protect companies of all sizes. In addition to supporting continued company growth, the funding will accelerate expansion of our service offering, as we continue to scale and expand to meet our customers’ individualized needs,” Brian NeSmith, CEO and co-founder of Arctic Wolf, said.