Extended detection and response (XDR) company Hunters on Tuesday announced raising $30 million in a Series B funding round, which brings the total raised by the Israel-based firm to $50.4 million.
The latest funding round was led by Bessemer Venture Partners, with participation from YL Ventures, Blumberg Capital, Microsoft’s M12, and U.S. Venture Partners (USVP). Hunters says it will use the money to improve its product, hire more people, and increase its market reach.
Hunters, which emerged from stealth mode in May 2019, has developed a cloud-based XDR platform that uses data from a wide range of endpoint, cloud, network, identity and email solutions to help security operations teams detect, investigate, prioritize, and respond to potential threats.
The product aims to replace SIEM solutions and Hunters says it wants to disrupt the $4.3 billion SIEM market. The company claims its product is already used by some of the world’s largest enterprises.
“Hunters’ customer engagements are accelerating with Fortune 1000 Companies adopting XDR to be at the heart of their security operations,” said Uri May, CEO and co-founder of Hunters.
“Traditional security tools like SIEM have not fulfilled the need to clearly and rapidly identify and investigate threats at the scale of cloud data, leaving a crucial gap in supporting security analysts. Open XDR offers a new technology approach with a turn-key solution that stitches security events from across the entire security stack into contextualized and prioritized incidents. This maximizes the value security teams are getting from their current stack and enables them to see real incidents and rapidly respond,” May added.
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