Security operations platform Arctic Wolf secures $401m

Security operations platform Arctic Wolf secures $401m

Security operations platform Arctic Wolf has raised $401m through a convertible note offering.

Existing Arctic Wolf investor Owl Rock led the investment. Other commitments came from Viking Global Investors, the Ontario Teachers’ Pension Plan, and funds advised by Neuberger Berman.

Over the past 12 months, the CyberTech company has doubled its headcount. This has been driven by expansion into new global markets, including South Africa, Benelux and the Nordics. It plans to launch in the APAC region soon.

The company recently opened its EMEA headquarters in Newcastle, England and established its first European security operations centre (SOC) in Frankfurt, Germany.

The Security operations platform currently serves over 3,000 customers, ranging from large enterprises to small and mid-sized businesses. It also works with over 1,100 channel partners around the world.

It recently released a new incident response offering via its Tetra Defense business unit. Additionally, it has enhanced its Security Operations Warranty offering, which offers eligible customers up to $1m in financial assistance in the event of certain cyber-attacks.

Owl Rock vice president Ilan Aharoni said, “We’re delighted to expand our partnership with Arctic Wolf.

“Many businesses lack the expertise and resources to secure themselves against today’s growing challenges. Arctic Wolf’s continued growth and expansion amidst a tumultuous market is a testament to the strong value proposition of its one-stop cloud native platform coupled with its differentiated delivery model.”

Last year, Arctic Wolf tripled its valuation to $4.3bn after it closed a $150m investment round.

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