Cybersecurity platform Securonix bags $29m in Series A

Big data security and analytics platform Securonix has raised $29m in its Series A funding round.

This investment was led by Volition Capital, with particptiation also coming from Eight Road Ventures.

Securonix uses Hadoop and machine learning to turn enterprise security with actionable intelligence, by acquiring, augmenting and analysing a wealth of data in real-time to detect and prioritise cyber threats. It UBEA and SIEM platforms use out of the box content to detect insider threat, cyber threat, cloud and fraud attacks automatically.

Currently the California-based platform is used in the US, EMEA, APJ and LatAm, with customers including a third of the Fortune 500 Companies. In the last year the company has grown from 180 companies to 300 across the world.

This capital will be used to accelerate growth and leadership in its user behaviour analytics, security information and event management, and log management departments. The equity will help to extend investment in technology and expansion and global markets.

Volition Capital managing partner Roger Hurwitz said, ?Securonix has the foundation, vision, and management team to lead the security analytics market. Securonix SNYPR Security Analytics platform is enabling organizations to quickly detect, triage, and mitigate the risks of advanced threats.p>

Following the transaction, Volition Capital managing partner Roger Hurwitz will join Securonix board of directors.

Companies in Volition Capital portfolio include P2P lending marketplace Prosper, mortgage support solution Loanlogics and supply chain compliance platform Assent.

Copyright ? 2017 FinTech Global

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