- June 11, 2019
- Posted by:
- Category: venture capital funding
"TCV has an extensive track record of partnering with enterprise security companies, including Rapid7 and Splunk, from growth stage to public," said Tim McAdam, general partner at TCV and member of the Vectra board of directors. "In our research on the category, it became clear to us that Vectra was rapidly gaining momentum with customers by rethinking the way enterprises view both network and cloud security. The Vectra Cognito platform is poised to become requisite in the security infrastructure of multinational enterprises and midsize businesses alike."
The cloud has critical security gaps that leave organizations vulnerable. Cyberattackers take advantage of these gaps without leaving a trail of evidence. Underscoring this risk, a recent survey by the SANS Institute found that one in five businesses had serious unauthorized access to their cloud environment this past year alone, and many more were unknowingly breached. The Cognito platform addresses these security gaps by providing 360-degree visibility into cloud, data center, user and internet-of-things (IoT) infrastructure, leaving attackers with nowhere to hide.
"The cloud has inherent security blind spots, making it imperative to eliminate cyber-risks as enterprises move their business to the cloud," said Hitesh Sheth, president and chief executive officer at Vectra. "The Cognito platform enables them to stop hidden cyberattacks in the cloud. We look forward to partnering with TCV and our existing investors as we continue our rapid growth."
Vectra experienced 104% growth in annual recurring revenue in 2018 compared to 2017. The company will continue to ramp up initiatives aimed at addressing the global deficit in cloud security, innovating on its existing platform and expanding its global customer base.
* "Cloud Security Solutions Forecast, 2018 to 2023" by Forrester Research, Inc.
Vectra' is the leader in network detection and response – from cloud and data center workloads to user and IoT devices. Its Cognito' platform accelerates threat detection and investigation using AI to enrich network metadata it collects and stores with the right context to detect, hunt and investigate known and unknown threats in real time. Vectra offers three applications on the Cognito platform to address high-priority use cases. Cognito Stream sends security-enriched metadata to data lakes and SIEM. Cognito Recall is a cloud-based application to store and investigate threats in enriched metadata. And Cognito Detect uses AI to reveal and prioritize hidden and unknown attackers at speed. For more information, visit vectra.ai.
Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. Since inception, TCV has raised over $15 billion in capital and has helped guide CEOs through more than 120 IPOs and strategic acquisitions. TCV's investments include Airbnb, Altiris, AxiomSL, Dollar Shave Club, EmbanetCompass, EtQ, ExactTarget, Expedia, Facebook, Fandango, GoDaddy, HomeAway, LinkedIn, Netflix, OSIsoft, Rapid7, Rent the Runway, Sitecore, Splunk, Spotify, Varsity Tutors, Webroot, and Zillow. TCV is headquartered in Menlo Park, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit https://www.tcv.com.
|05/08/2014||$25,000,000||Series C||AME Cloud Ventures, IA Ventures, Khosla Ventures|
|10/06/2019||$100,000,000||Technology Crossover Ventures||Technology Crossover Ventures|