Swimlane announced it has raised $40 million in funding led by EIP. This funding will accelerate partnerships and alliances, expand research and development, and enable further global expansion.
Additionally, Swimlane has appointed James Brear as Chief Executive Officer, who was previously CEO of Veriflow, which was sold to VMWare in August 2019. Industry visionary and Senior Operating Partner at EIP, Niloofar Howe, has also been named as the company’s newest board member.
“Without a doubt, automation will be one of, if not the biggest change realized by security operations in a generation. Security automation is a multibillion dollar market, and while hundreds of organizations already benefit from its initial adoption, the broad application of intent-based automation to every aspect of security is still in front of us all,” said Brear.
“Swimlane is acutely focused on improving the automation piece of today’s SOAR solutions. I am thrilled to join the company at this critical moment with the strong support of EIP..”
For years, companies have focused on threat detection and prevention, with limited investment in innovation to help security staff keep up with their workload. Swimlane stands out in the market for enabling organizations to automate every aspect of their security operations.
During a time when businesses are facing an unprecedented rate of digital business transformation, Swimlane’s automation platform provides a flexible, central workbench that enables teams to automate any task or process with speed and accuracy.
The platform acts as a force multiplier, significantly increasing the impact and productivity of security teams to ensure security operations are managed quickly, efficiently and effectively.
“By automating the manual processes that take up a majority of our team’s time, Swimlane’s platform helps us streamline security tasks so that our teams can focus on the work that truly requires human oversight,” said Jason Nations, Senior Manager of Enterprise Security, OGE Energy Corp.
“We have seen efficiency improvements firsthand, which has helped us immensely from both a risk management perspective and a staffing perspective. The platform’s agility and ability to add features increases these capabilities even further. Swimlane has also helped us address analyst burnout and enabled us to focus on developing a more effective incident response and threat management program.”
Howe added, “Organizations realize that increased staffing is no longer sufficient to effectively safeguard against the growing amount of security and intelligence data that is generated on a daily basis.
“To protect rapidly expanding attack surfaces, automation must be broadly applied across every security use case. The EIP team is excited to continue our collaborative engagement with Swimlane as the company helps solve inefficiencies and streamline the way industries respond to incidents and mitigate risk.”
Throughout 2020, Swimlane made strides bringing automation to organizations at a global scale, and this funding is continued validation of Swimlane’s performance. Swimlane was recently named a representative vendor in Gartner’s 2020 “Market Guide for Security Orchestration, Automation and Response Solutions”.
Additional milestones included the 10.0 release of the Swimlane platform, securing US Patent 10,552,615, launching a Customer Experience Program and Insider Channel Program, and the acquisition of Syncurity.