Cloud-scale security analytics platform Panther Labs has scored $120m in its Series B round, as it gears up for rapid market expansion.
Coatue Management served as the lead investor, with commitments also coming from ICONIQ Growth and Snowflake Ventures, as well as existing investors Lightspeed Venture Partners, S28 Capital and Innovation Endeavors.
This Series B round puts its valuation at $1.4bn.
Panther Labs has experienced strong growth over the past year, culminating in a 300% increase of its customer base. Another milestone it reached this year was expanding its team by four-times.
The capital injection will help Panther fuel its market expansion, expand the adoption of its service within security teams of all sizes and scale the support for customers
Panther Labs was founded by Jack Naglieri after inspiration came to him whilst working at Yahoo and Airbnb.
The Cyber Tech company has built a threat detection and incident response solution, which can capture terabytes of data each day, all in real-time. Through this, security teams can normalise data, detect suspicious activity, receive contextual alerts, run investigations and more.
Panther Labs CEO and founder Jack Naglieri said, “I’ve spent my career working on this problem and built Panther to help solve the pains of security monitoring at cloud scale. I couldn’t be more excited about our next stage of hyper-growth to empower modern security teams with a modern solution built on cloud-native principles and detection-as-code.”
With the close of the round, the company has raised a total of $140m in funding.
Whilst at Airbnb, Naglieri built an open-source project called StreamAlert, which enabled the security team to collect and analyse security logs with a cloud-native engine to overcome scale, administration and cost challenges.
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