Sysdig closes $68.5 million in series D funding
Sysdig announced it raised $68.5 million in series D funding, led by Insight Venture Partners, with participation from previous investors, Bain Capital Ventures and Accel.
This round of funding brings Sysdig’s total funding to date to $121.5 million. Sysdig will use the funds to enable enterprises to operate containerized infrastructure and cloud-native applications.
Sysdig offers enterprises the unified approach to container security, monitoring, and forensics.
Unlike traditional approaches, the Sysdig Cloud-Native Intelligence Platform was built with an understanding of the DevSecOps workflow across Kubernetes, Docker and both private and public clouds.
Sysdig’s open source forensics technology, Sysdig, and its open source security project, Sysdig Falco, have a community of millions of users, and provide the foundation for a commercial product set.
Dozens of Global 2000 enterprises are Sysdig customers today, including many of the world’s financial institutions, media companies, cable companies, technology companies, and government agencies.
451 Research predicts the cloud-enabling technology market to grow to $39.6B through 2020, and containers are predicted to be the fastest growing segment of that market at 40%.
Gartner predicts that “by 2020, more than 50% of global organizations will be running containerized applications in production, up from less than 20% today.”
“As enterprises accelerate their move to cloud-native applications, they recognize the need for a new breed of solutions that will enable them to meet performance, reliability, security, and compliance requirements,” said Richard Wells, Managing Director at Insight Venture Partners.
“Sysdig’s novel approach of tapping an entirely new data source that provides both security and monitoring for container-based applications has proven more effective, more scalable, and higher ROI. That significant technological advantage combined with an experienced management team led by CEO Suresh Vasudevan gives Sysdig a strong position in the marketplace and we are excited to welcome them to the Insight portfolio.”
Sysdig launched Sysdig Secure in October of 2017, the Sysdig Cloud-Native Intelligence Platform as the solution that offers unified security, monitoring, and forensics with native Kubernetes and Prometheus integration for containers and microservices.
Last quarter, Sysdig expanded on the deep container visibility Sysdig provides to create Sysdig Secure 2.0, which brings vulnerability management, more than 200 compliance checks, and security analytics to cloud-native environments and microservices for enterprise customers.
Sysdig Secure is the container security offering that takes a data-driven approach across all aspects of the container lifecycle.
“Enterprises are adopting cloud-native technology for its speed of development, multi-cloud scaling capabilities, and lower total cost of ownership,” said Suresh Vasudevan, CEO at Sysdig.
“But, they are hitting roadblocks with old school security and monitoring products. To be successful, these organizations need new solutions that are cloud-native. Sysdig has emerged as the only solution that delivers enterprises the complete set of capabilities needed to protect an environment, ensure that it is running smoothly, and meet compliance requirements. Sysdig delivers it all, both in the cloud and on-premise, in order to grow with companies as they undertake this journey.”
This round of funding further accelerates the momentum and growth Sysdig has experienced over the last year.
Downloads of Sysdig Falco have tripled over the last 12 months and active users of the Sysdig SaaS offerings have grown nearly six times year over year.
Last month, Sysdig opened a second headquarters in Raleigh, North Carolina to keep up with company growth while the company also continues to scale its offices in San Francisco, Belgrade, and London.
In addition to its global growth, Sysdig has expanded its executive team with the hiring of Suresh Vasudevan as CEO in April and Larry Castro as VP of finance and corporate operations last month.
Sysdig continues to deliver on its commitment to leading the industry by collaborating with the Cloud-Native Computing Foundation, the PCI Security Council, and industry partners and by contributing to the development of security recommendations for modern infrastructure.