Hunters aims to lead XDR market following $30m Series B raise

Israeli cybersecurity firm Hunters has secured $30m from a Bessemer Venture Partners-led Series B funding round.

The round also saw participation from YL Ventures, Blumberg Capital, Microsoft’s Venture Fund M12 and US Venture Partners. After this round, the company has raised its total funding to $50.4m, following its earlier $15m Series A raise in June 2020.

Founded in 2018, Hunters has an extended detection and response (XDR) platform that helps companies accelerate threat detection, investigation and incident response. The company claims that it serves many recognised brands in the financial services, retail, media manufacturing and technology industries.

XDR is a vendor-specific, security threat detection and incident response tool that integrates a range of security products into a security operations system that unifies all components.

Hunters CEO and co-founder Uri May said, “Hunters’ customer engagements are accelerating with Fortune 1000 Companies adopting XDR to be at the heart of their security operations. Traditional security tools like SIEM have not fulfilled the need to clearly and rapidly identify and investigate threats at the scale of cloud data, leaving a crucial gap in supporting security analysts.

“Open XDR offers a new technology approach with a turn-key solution that stitches security events from across the entire security stack into contextualized and prioritized incidents. This maximizes the value security teams are getting from their current stack and enables them to see real incidents and rapidly respond.

“This investment takes us one step closer to building a pillar security company, becoming the centerpiece of the future SOC of the world’s leading organizations. The investment will be used to further drive innovation, enhance our customer satisfaction, increase our market reach, support partner expansion and hire exceptional talent.”

Bessemer Venture Partners partner Alex Ferrara added, “Hunters represents the future of security architectures, leveraging the performance and cost advantages of cloud data warehouses and Open XDR technology to deliver detection and response capabilities that were not historically possible on-premise.

“Hunters’ unique ability to identify low-fidelity signals of an attack that are traditionally missed and automatically stitch them together into a contextual attack story is a game-changer that helps organizations better address their cybersecurity risk, specifically for companies undergoing rapid cloud expansion and business growth.”

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