AlienVault Closes New Financing Round of $52 Million Led by Institutional Venture Partners
Investment Accelerates Innovation, Speeds Growth in Unified Security Management, Threat Intelligence Markets
SAN MATEO, CA – August 19, 2015 – AlienVault™, the leading provider of Unified Security Management™ and crowd-sourced threat intelligence, today announced it has closed a $52 million Series E funding round, which brings the company’s total funding raised to nearly $116 million. New investor Institutional Venture Partners (IVP) led the round with strong participation from existing investors, including Trident Capital, Kleiner Perkins Caufield & Byers, GGV Capital, Correlation Ventures, Intel Capital, Jackson Square Ventures and Top Tier Capital Partners.
As part of the funding, Steve Harrick, General Partner at IVP, will join the board of directors as an observer. The company will use the funding to scale its global sales and marketing programs and to increase investments in product innovation for its Unified Security Management (USM) platform and Open Threat Exchange (OTX), its open threat intelligence community that enables collaborative defense with actionable, community-powered threat data.
AlienVault recently marked another record year, with bookings growth exceeding 65 percent year over year and new customer growth exceeding 75 percent year over year. Today, more than 2,000 customers and government organizations including Columbia University, Peet’s Coffee & Tea, NASA and Save Mart rely on the AlienVault USM platform and OTX to detect, defend against, and respond to today’s cybersecurity threats in minutes. AlienVault was once again positioned in the Visionary quadrant of the 2015 Gartner Magic Quadrant for Security Information and Event Management (SIEM), which recognizes the value of its innovative approach to deliver affordable security solutions for organizations of all sizes.
“With today’s rapidly changing threat landscape, technology alone is not enough in the battle against cyber crime. At AlienVault, we unify the security products, intelligence and community which enable all organizations – regardless of size – to quickly detect and respond to today’s threats,” said Barmak Meftah, president and CEO of AlienVault. “This round of funding will allow us to make the investments needed to rapidly expand our reach into this large market opportunity.”
Gartner predicts global cybersecurity spending will reach $76.9 billion this year as organizations become more “threat-aware.” However, many mid-market companies lack the IT budget and technical expertise needed to deploy numerous point security products and gather and analyze enough actionable information to stay ahead of threats. AlienVault USM is the only all-in-one, affordable solution that accelerates threat detection and incident response, particularly for IT teams with limited resources – budget, people or technology.
“AlienVault is a security visionary, focused on developing a new category of unified security management and actionable threat intelligence. Their products help companies detect and deflect targeted attacks in an efficient and timely manner,” said Steve Harrick, General Partner at IVP. “AlienVault offers organizations a unique solution to protect their sensitive data and core infrastructure. We were especially impressed by the company’s strong executive team and board, their practical approach to the market and their enthusiastic and devoted customers.”
The funding round follows AlienVault’s appointment of Brian Robins, who previously held executive management positions at CSC, Verisign, and Neustar, as the company’s CFO. The company also recently released new versions of USM and OTX, and introduced USM for Amazon Web Services (AWS).
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About Institutional Venture Partners (IVP)
With $5.4 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 300 companies and 102 have gone public. IVP is one of the top-performing firms in the industry and has a 34-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions and select public market investments. IVP investments include such notable companies as AppDynamics, ArcSight (HPQ), Buddy Media (CRM), ComScore (SCOR), Datalogix (ORCL), Domo, Dropbox, Dropcam (GOOG), Fleetmatics (FLTX), HomeAway (AWAY), Kayak (PCLN), LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), Omniture (ADBE), OnDeck (ONDK), Prosper, Pure Storage, RetailMeNot (SALE), Shazam, Slack, Snapchat, SoundCloud, Supercell, Synchronoss (SNCR), The Honest Company, Twitter (TWTR), Zenefits, and Zynga (ZNGA). For more information, visit http://www.ivp.com or follow IVP on Twitter: @ivp.