Hunters announced a $68 million Series C round led by growth equity firm Stripes, with participation from new investors DTCP, Cisco Investments and Databricks, and existing investors YL Ventures, Bessemer Venture Partners, Microsoft’s venture fund M12, U.S. Venture Partners, Blumberg Capital and Snowflake Ventures.
The new funding brings the total investment in Hunters to $118 million.
Hunters’ SOC Platform empowers security teams to automatically identify and respond to incidents that matter across the entire attack surface. Global enterprises, including leading Fortune 500 companies in financial services, media, retail and manufacturing choose Hunters as their main SOC platform, replacing their SIEM.
Hunters’ ability to ingest and normalize data from all security data sources at a predictable cost is key to seeing and stopping attacks. Its built-in detection engineering, data correlation and automatic investigation helps security teams overcome volume, complexity and false positives.
“The SIEM market is worth $4.3 billion and is ripe for disruption since it drives limited security outcomes for its customers,” said Uri May, CEO and co-founder of Hunters. “Players in this category focus on data ingestion and leave customers to build their own detection engineering and investigation capabilities or have significant gaps in scale and pricing models. Hunters was purpose built to help the overly stressed security teams mitigate real security incidents faster and more effectively.”
“After meeting the Hunters team and hearing customers rave about the product, we have strong conviction that they are poised to conquer one of the biggest markets in security as customers are seeking a modern solution that makes life easier for security teams,” said Ken Fox, founder and partner at Stripes and board member at Hunters. “2021 was a huge year for Hunters as the company grew ARR by more than 4x, and we are excited for them to build on this momentum in the coming year.”
“Hybrid work demands a new look at security as employees and devices can be anywhere, moving on and off company networks,” says Janey Hoe, vice president, Cisco Investments. “It’s imperative that we make it easy for teams to protect critical security control points – users, devices, networks, apps & data – no matter where they are. Hunters provides rich telemetry and out-of-the-box integrations that security operations and risk management teams need to connect the dots across these environments.”
“For over three years, Hunter’s cloud-native architecture and automation have enabled security teams to adopt the security data lake model,” said Stefan Williams, Head of Corporate Development at Snowflake. “Hunters, a Powered By Snowflake partner, is a great example of how investing in best-in-class solutions built using Snowflake extends our ability to mobilize data and contributes to the powerful network effects of Snowflake’s Data Cloud.”
“This new round of funding, coming only a few months after our previous round, underscores the opportunity for Hunters to become a market leader and the centerpiece of Security Operations. Our strategic investors Cisco Investments, Snowflake, Databricks and Okta are a force-multiplier for our outreach to world’s largest organizations. The funding will be used to further innovate in our platform and services, to strengthen our sales and partnerships across North America and EMEA and to help us continue to invest in exceptional talent that fits our company culture, which is driving our company to new frontiers and to conquering the market,” May said, noting that Hunters’ growing team has doubled in size over the past year.