AlienVault Announces $26.5 Million in Series D Funding Led by GGV Capital to Accelerate Rapid Growth
San Mateo, Calif., (September 5, 2013) - AlienVault, the leading provider of Unified Security Management™ solutions and crowd-sourced threat intelligence, today announced a $26.5 million Series D funding round led by GGV Capital, with strong participation from existing investors Trident Capital, Kleiner Perkins Caufield & Byers (KPCB), Sigma West and Adara Venture Partners, and new investors Top Tier Capital and Correlation Ventures. The funding will be used to scale the company’s global sales and marketing programs in response to high demand for its products. Funds will also be used for continued investments in product innovation and expansion of AlienVault’s Open Threat Exchange.
“AlienVault’s ability to deliver on the promise of complete, simple and affordable security visibility and threat intelligence products for businesses of any size or scale has been strongly demonstrated over the past year that we’ve gotten to know the company,” said Glenn Solomon, Partner at GGV Capital. “At GGV, we strive to invest in companies that can create and lead large new global market opportunities. AlienVault’s management team is well on its way to building the clear leader in Unified Security Management. The company’s strong executive team and board, compelling market need, devoted customer references and rapid growth combine to make AlienVault a very exciting investment for GGV.”
AlienVault’s Unified Security Management (USM) platform is a collection of the best open source tools for asset discovery, vulnerability assessment, threat detection, behavioral monitoring and security intelligence. These essential security capabilities are pre-integrated and tuned to provide complete security visibility and threat management through an easy-to-use management console. The product is available as a Virtual Appliance, a Hardware Appliance and as an Amazon AMI.
The new Series D round of funding comes at a time of continued rapid growth for AlienVault, as the company is on target to more than double bookings for the third year in a row. With over 100% growth in net new customers in 2013 and thousands of free product trials being downloaded each quarter, AlienVault has seen strong adoption of its Unified Security Management platform, as well as great participation in its Open Threat Exchange (OTX). Since it was introduced early last year, AlienVault’s OTX Reputation Monitor, available through the Exchange, has become the largest crowd-sourced repository for threat information around the world, counting more than 8,000 contributors from 140 countries, and growing rapidly.
“Trident Capital is proud of what the team at AlienVault has been able to accomplish in the two years that we’ve been involved with the company,” said J. Alberto Yépez, AlienVault’s Chairman of the Board of Directors and Managing Director at Trident Capital. “Many companies have great vision but fall short of realizing it. Through its USM platform and Open Threat Exchange, AlienVault is delivering on its vision of open and collaborative security. It’s great to have GGV Capital’s support as AlienVault works to make security visibility and better threat intelligence easily accessible and attainable, even for smaller and midsize organizations around the world whose security needs have largely gone unmet. The team assembled at AlienVault is amongst the most accomplished and well respected in the industry.”
“AlienVault is on the path to being a disruptive, game-changing force in the security market,” added Ted Schlein, general partner at KPCB. “They anticipated the need for an all-in-one security platform that businesses of any size could use and afford, as well as the need for better threat management through crowd-sourced threat intelligence with the Open Threat Exchange.”
“GGV Capital has an amazing track record for investing in companies that truly are category creators, and we look forward to living up to their legacy with Unified Security Management,” said Barmak Meftah, AlienVault’s President and CEO. “Glenn’s experience guiding companies that have created new technology paradigms and markets—companies like Pandora, Square, ZenDesk and Successfactors—will be invaluable as we continue to put the power of a unified security platform and shared threat intelligence within reach of all organizations.”
GGV Capital’s Glenn Solomon will join AlienVault’s board as a director.