Israeli-based security operations platform Hunters closed a $68 million Series C funding round led by growth equity firm Stripes, the company announced on Tuesday.
“After meeting the Hunters team and hearing customers rave about the product, we have strong conviction that they are poised to conquer one of the biggest markets in security as customers are seeking a modern solution that makes life easier for security teams,” said Ken Fox, founder and partner at Stripes and new board member at Hunters.
Additional investors include DTCP, an investment management group, Databricks, an American enterprise software, and Microsoft’s venture fund, M12, among others, bringing Hunters’ total funding to $118 million to date.
“The funding will be used to further innovate our platform and services, strengthen our sales and partnerships across North America and EMEA, and help us continue to invest in exceptional talent that fits our company culture, which is driving our company to new frontiers and to conquering the market,” says Uri May, CEO, and co-founder of Hunters.
Founded in 2018, Hunters’ SOC platform serves as an upgraded replacement for its system predecessor, SIEM software (security information and event management), which mitigates security threats less efficiently and less reliably than Hunters’ security platform.
Six months ago, the company announced that it has raised $30 million in a Series B round led by Bessemer Venture Partners (BVP) for its extended detection and response (XDR) tech.
“The SIEM market is worth $4.3 billion, and it’s ripe for disruption since it drives limited security outcomes for its customers,” says May. “Hunters’ built purpose was to help overly stressed security teams mitigate real security incidents faster and more effectively.”
Hunters’ clients span across many industries and include Fortune 500 companies involved in financial services, media, retail, and manufacturing. Many enterprises including Booking.com, Snowflake, and Netgear have already exchanged their SIEM software for Hunters’ SOC platform, thereby reducing their overall security risks.