Stellar Cyber has received $7.1 million in additional funding in an expansion of its Series A round, bringing the total to $21.8 million.
New investor Susquehanna International Group (SIG) joins existing Series A investors Valley Capital Partners, Big Basin Ventures, and Northern Light Venture Capital. Extending its Series A round has been a more efficient way of absorbing new capital than opening up a subsequent funding round, and given the ongoing investor interest in Stellar Cyber, this extension allows new investors to get on board more quickly and expand market opportunities more quickly.
Stellar Cyber hones in on elusive threats while adding much needed efficiency and effectiveness to existing security team operations. Malware and ransomware attacks continue unabated, yet security analysts are drowning in data from an average of 32 discrete security tools in use in their enterprises.
Stellar Cyber’s Open-XDR platform is a non-disruptive addition to a company’s security toolkit that ingests data from existing tools, curates that data, and produces far more accurate threat alerts through a single pane of glass. Starlight automatically detects and resolves cybersecurity attacks, increases analyst productivity and ensure that customers can leverage existing investments in firewalls, SIEM, EDR and other solutions.
Stellar Cyber will use the additional funding to expand research and development, sales, marketing, partnerships and build scale into its global delivery capabilities.
“Now with a proven technology and customer track record, Stellar Cyber has a unique advantage and lead in the cybersecurity market,” said Raymond Choi, Valley Capital Partners. “Extending the funding level of Series A accelerates the ability to maximize market opportunities and accelerate leadership.”
“Enterprises and MSPs are adopting Starlight because it slashes false positives and unifies all cybersecurity efforts under a single platform,” said Changming Liu, CEO of Stellar Cyber. “We have had outstanding growth in the past year, and we’re grateful that this has been acknowledged by both our investors and our customers.”