Hunters, an extended detection and response (XDR) platform provider, has secured $30 million in a Series B financing round led by venture capital firm Bessemer Venture Partners. The company will use the funding to drive innovation, increase its market reach, expand its partner base and hire talent, CEO Uri May said.
The Series B funding brings Hunters' total financing to date to $50.4 million, the company stated. It comes after Hunters in June 2020 added $15 million in a Series A financing round.
A Closer Look at Hunters XDR
Hunters provides an Open XDR platform designed to replace modern security information and event management (SIEM) tools, the company stated. The platform ingests security logs, events and telemetry from multiple data sources on-premises and in the cloud, then leverages machine learning to score threat signals and alerts and provide security insights.
Furthermore, Hunters XDR extracts raw data and alerts from security data, the company said. The platform also automatically runs investigations and enriches them with context.
Hunters enables organizations to use its platform in combination with various security products, data platforms and threat intelligence tools. In addition, Hunters offers a technology partner program that lets MSSPs and MSPs integrate its platform into their offerings.
Cybereason Adds $275 Million in Series F Funding
Along with Hunters, XDR security company Cybereason in July 2021 raised $275 million in Series F funding. Cybereason is using the funding to grow its XDR, endpoint detection and response (EDR) and endpoint protection software business.
The global XDR is projected to experience triple-digit growth in the years to come, according to industry analyst Research and Markets. As global organizations adopt XDR solutions, the number of investments in XDR providers could increase accordingly.