Demisto Secures $43 Million Series C Financing Led by Greylock Partners
October 2018 by Marc Jacob
Demisto announced the closing of a $43 million Series C funding round led by Greylock Partners. Demisto will leverage these funds to drive global go-to-market expansion, accelerate adoption and deployment of its industry-leading SOAR platform, and take SOAR well beyond Security Operations Center (SOC) use cases. Additional investors participating in this funding round include early investors Accel Partners, ClearSky Security and others, bringing total funding to date to $69 million.
“Demisto is rapidly gaining momentum as the leading security operations platform,” said Sarah Guo, General Partner at Greylock Partners. “We are excited to lead Demisto’s Series C, and look forward to supporting Demisto as it builds an important security company that helps a global customer base get leverage against adversaries.”
Amidst fast-growing adoption of SOAR technologies, this latest investment underscores Demisto’s leadership in enabling security teams to automate incident response across disparate security environments. Demisto’s security orchestration and automation enables standardized, automated, and coordinated response across an organization’s security product stack. Playbooks powered by thousands of security actions make scalable, accelerated incident response a reality.
Growing SOAR Adoption Drives Demisto Momentum
Accelerated enterprise adoption: After 300% year-over-year customer growth in 2017, Demisto has already acquired more customers in the first half of 2018 than it did during the entirety of 2017. This customer base includes dozens of Fortune 500 companies. Demisto has tripled the size of its customer success team to meet the growth demand.
Industry recognition: Demisto was named a 2018 Gartner Cool Vendor in Security Operations and Vulnerability Management.
Growing SOAR market: Gartner’s research into the SOAR market projects a rise in enterprise adoption from 1% in 2018 to 15% in 2020.1
Demisto’s Product Continues to Lead the Security Market
Demisto recently launched v4.0 of its product, expanding the platform into advanced threat hunting, cloud security and more. New features not available in any other SOAR product include: an Investigation Canvas that improves security analysts’ visualization of attack campaigns, end-to-end automation of Amazon Web Services (AWS) cloud security processes and hundreds of other enhancements suggested by existing customers and partners.