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Arctic Wolf Networks Raises $45M for SOC as a Service Funding

Arctic Wolf Networks, which provides a security operations center-as-a-service (SOCaaS) solution for managed service providers (MSPs), has secured $45 million in Series C funding. The company previously raised $16 million in funding in January 2018.

The Series C funding allows Arctic Wolf to explore new offerings and strategic acquisitions, according to a prepared statement. It also raises Arctic Wolf’s total financing to date to $91.2 million.

The company’s CyberSOC is designed to provide organizations with SOC capabilities, delivered as a service. It combines human expertise and machine learning to help organizations detect, identify and respond to cyberattacks.

Key features of CyberSOC include:

  • Breach Detection: Leverages behavioral analysis to detect suspicious activity.
  • Cloud-Based Security Information and Event Management (SIEM): Provides log analysis, event correlation and behavioral analytics.
  • Security Engineers: Offers access to security engineers who conduct threat investigations and forensics.

Eager to attract more MSPs onto the platform, Arctic Wolf integrated CyberSOC with ConnectWise’s business management software suite in late 2017. MSPs in the SMB sector widely use ConnectWise’s software for professional services automation (PSA), remote monitoring and management, and more. We don’t know how many ConnectWise partners have embraced Arctic Wolf, but we’ll be looking for answers at ConnectWise’s IT Nation Connect 2018 conference in November.

Additional insights from Joe Panettieri.

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