Swimlane, a provider of security orchestration, automation and response (SOAR) solutions, announced today that it has raised $40 million in growth funding.
Denver, Colorado-based Swimlane is a player in the hot market of security orchestration, automation and response (SOAR) solutions, and helps security operations teams struggling with alert fatigue and staffing shortages.
According to the company, the additional cash injection will be used to accelerate partnerships and alliances, expand research and development, and fuel global expansion. The total amount raised by the cmpany is now $75 million.
As the company explains, its solution helps organizations address security operations needs, including prioritizing alerts, orchestrating tools and automating the remediation of threats.
In addition to announcing the funding, Swimlane appointed James Brear as its new Chief Executive Officer.
The funding round was led by private equity firm Energy Impact Partners (EIP), with Senior Operating Partner Niloofar Howe being named as the company’s newest board member.
“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,” Howe said. “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.”
In addition to its headquarters in Denver, Swimlane has operations throughout North America, Central America, Europe, the Middle East and Australia.
Related: Fighting Alert Fatigue With Security Orchestration, Automation and Response
Related: Security Operations: What is Your Signal-to-Noise Ratio?
