ThreatStream, a security startup that offers a SaaS-based security intelligence platform, today announced that it has raised $22 million in a series B funding round led by General Catalyst Partners.
Designed specifically to meet the needs of enterprise and government customers, the company’s flagship ThreatStream OPTIC platform aggregates and ranks millions of unstructured cyber threats in real-time from hundreds of sources and integrates that intelligence to help security teams optimize work-flows.
Redwood City, Calif.-based ThreatStream said that it would use the investment to accelerate growth and revenue, noting that more than 1,100 users have already deployed its ThreatStream OPTIC platform, which can be deployed in public cloud, private cloud and on-premise environments.
Founded in February 2013, ThreatStream is led by former ArcSight founder and CTO, Hugh Njemanze, who took the position as CEO in July. Njemanze co-founded ArcSight in May 2000 and led product development, information technology deployment and product research leading up to HP’s acquisition of ArcSight for $1.75 billion in 2010.
“Today the bad guys are winning because they are collaborating. ThreatStream is committed to providing the tools to enable companies to share threat intelligence in a practical and effective environment,” said Njemanze. “The pedigree of our investors and board members, together with the experience our team has gained building successful security companies like ArcSight, makes me confident in our ability to execute and grow our business with this additional investment.”
“At the heart of protecting organizations from cyber threats and their customers from data breaches is the speed at which risks can be identified,” the company said. “Security teams spend significant time analyzing the same attacks but lack the visibility needed to aggregate and analyze threats according to risk.”
New investors Institutional Venture Partners, and previous investors Google Ventures and Paladin Capital Group, also participated in the funding round.
As part of the funding deal, former VMware CTO and managing director at General Catalyst Partners, Steve Herrod, will join ThreatStream’s Board of Directors.
“With the daily drumbeat of sophisticated security breaches, it is vital that companies across all industries augment their infrastructure to combat advanced malware and increase their defenses,” said Herrod. “We are excited to back a visionary like ThreatStream, which is focused on developing a new category of actionable threat intelligence that helps companies make sense of millions of threats in real-time while allowing them to securely share their findings.”
