Panther Labs, an early stage startup that specializes in detection and response analytics, has raised a whopping $120 million in a new round of funding led by hedge fund Coatue Management.
Panther Labs said the Series B investment was raised at a $1.4 billion valuation, putting the company among a growing list of ‘unicorn’ cybersecurity startups.
In addition to Coatue Management, Panther Labs scored investments from ICONIQ Growth and Snowflake Ventures along with money from existing investors Lightspeed Venture Partners, S28 Capital, and Innovation Endeavors.
The company previously raised $15 million in a September 2020 Series A round.
[ READ: Karamba Security Raises $10M to Protect Connected Devices ]
The San Francisco firm, which was founded by Airbnb and AWS alumni, styles itself as a “cloud-scale security analytics platform” that helps organizations prevent breaches by providing actionable insights from large volumes of data.
The Panther product can be used by security teams to perform continuous security monitoring, gain security visibility across cloud and on-premise infrastructure, and build data lakes for incident response investigations.
In the last year, Panther claims its customer roster grew by 300 percent, including deals with big companies like Dropbox, Zapier and Snyk.
Panther Labs said the new funding will be used to speed up product development, expand go-to-marketing initiatives and scale support for its customers.
Related: Panther Labs Launches Open-Source Cloud-Native SIEM
Related: CyCognito Snags $100 Million for Attack Surface Management
