Huntress, a pioneer in managed security platforms for small and mid-sized businesses (SMBs), has successfully garnered $60m in a Series C funding round.
The funding round saw contributions from prominent investors including Sapphire Ventures, Forgepoint Capital and JMI Equity, with Sapphire Ventures leading the charge. As a result of the investment, Sapphire Partner Casber Wang and Operating Partner Mahau Ma will join the board of Huntress as director and board observer, respectively.
Huntress’ Managed Security Platform is an innovative solution that combines automation and human ThreatOps expertise to monitor and safeguard against cyber threats. The platform efficiently detects vulnerabilities, prevents persistent footholds and guards against ransomware and other cyber attacks. Its response and analytic capabilities are available 24/7, offering a cost-effective security solution for SMBs.
The fresh capital of $60m will be utilised to bolster the Managed Security Platform and facilitate Huntress’ market expansion. The firm aims to further cater to its growing base of partners, including managed service providers (MSPs) and managed security service providers (MSSPs), who deliver security services to SMBs.
Highlighting the firm’s growth, Huntress has doubled its annual revenue for two consecutive years. The security platform has also expanded its customer base, growing from 1,500 partners and 25,000 customers to over 4,000 partners and nearly 100,000 customers. In addition, Huntress has successfully launched a new managed detection and response solution for Microsoft 365 and acquired EDR technology from Level Effect in 2021 and security training awareness platform Curricula in 2022.
Reflecting on the development, Huntress CEO and Co-founder Kyle Hanslovan said, “At Huntress, our mission is to ensure that all businesses, regardless of size, have access to the cutting-edge solutions they need to continuously operate free from cybersecurity threats.” Sapphire Ventures’ Wang emphasised Huntress’ role in the cybersecurity landscape, stating, “Their world-class platform allows customers to sleep easy at night.”
In addition to the recent Series C round, the company has previously secured significant investment from Forgepoint Capital and JMI Equity, who led the company’s Series A and Series B funding rounds, respectively.
Cable, the purveyor of an integrated platform for effectiveness testing in financial crime control, has recently amassed $11m in a Series A funding round.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global