Securonix, an Addison-based security analytics and operations management platform, announced Tuesday that it raised more than $1 billion in growth investment. The private equity funding round was led by Vista Equity Partners with participation from Volition Capital and Eight Roads Ventures.
Securonix specializes in “next-gen” security information and event management (SIEM) and extended detection and response (XDR) cybersecurity solutions. Its cloud-native platform offers complete security monitoring that leverages behavior analytics to cut through noise, prioritize high fidelity alerts and help enterprises respond quickly and efficiently to cyber threats.
In a statement, Securonix CEO and co-founder Sachin Nayyar called his company a pioneer of “user entity behavior analytics” (UEBA) which entails an “analytics-centric approach to security monitoring.” The company also says it has “extended to next-gen SIEM with a scalable cloud-native architecture” and is offering up a “true end-to-end security operations fabric for threat detection and response” via its open XDR and security orchestration, automation and response (SOAR) capabilities.
“Our goal is to extend this to the application layer and to OT and IoT,” Nayyar continued. “Vista’s proven track record of partnering with next-gen, hypergrowth SaaS companies will advance our mission and allow us to help our customers solve these problems.”
The company plans to use the new funds to grow its global team. Specifically, Securonix will add senior leaders to its engineering, cloud operations, threats labs, and sales and marketing teams. The funding and expertise from Vista will also help Securonix scale operations and accelerate product innovation.
“Securonix has established a mission-critical business that is uniquely qualified and well positioned to redefine the SIEM industry,” Vista managing director Rod Aliabadi said in a statement. “We are excited to partner with their exceptional team as they expand into new markets and continue to innovate with their products and solutions.” According to its careers page, the company is currently hiring 95 roles in the Dallas-Fort Worth area.
This new funding comes after an impressive year of growth for the company. In the past 12 months, Securonix experienced 100 percent growth in annual recurring revenue from its SaaS offerings, a 240 percent year-over-year increase in new managed security service provider (MSSP) logo bookings, and doubled its headcount, surpassing 1,000 employees worldwide.
In addition to its Dallas County headquarters, the company also has offices in Jersey City and Los Angeles, as well as international offices in the U.K., Germany, India and Singapore.