Maryland-based Huntress provides a managed security platform for small and mid-sized businesses (SMBs). The company recently closed a Series C funding round for $60 million, led by Sapphire Ventures, which brings its total equity funding to $118 million. Existing investors Forgepoint Capital and JMI Equity also supported the round. The capital will help Huntress expand its suite of solutions that helps SMBs protect themselves from cyberattacks.
Many mid-sized organizations lack in-house cybersecurity expertise and effective incident response plans, according to Huntress, leaving them vulnerable to cyber threats. Huntress aims to help them as new tactics and technologies further complicate the security landscape. The company’s platform leverages automation and human ThreatOps experts to monitor attack surfaces, detect vulnerabilities and exploits and protect organizations’ infrastructure, Huntress mentioned in a release.
The new funding will enhance Huntress’ managed security platform and expand its market reach, allowing the company to serve an increasing customer base. Huntress has experienced significant growth in the past two years. The company increased its workforce by nearly 110 percent to a team of almost 300, grew its customer base from 25,000 to 100,000 and doubled its annual revenue in 2021 and 2022.
Huntress also partners with managed service providers and managed security service providers, such as Tech Keys, 1Path and Logically, that work to deliver security services to SMBs that would not otherwise possess critical threat detection, analysis and response capabilities, according to the company. Since 2021, Huntress has grown its partner network from 1,500 to 4,000.
“There are 32 million SMBs in the United States alone. 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,” Kyle Hanslovan, Huntress’ CEO and co-founder, said in a statement. “I’m inspired by the passion our investors share for protecting these companies. With Sapphire Ventures, Forgepoint and JMI at our side, I am confident that we can make a real difference.”