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MDR Funding: Red Canary Raises $34 Million

Red Canary, an MSSP and managed detection and response (MDR) solutions provider, has raised $34 million in growth equity financing led by investor Summit Partners. The company will use the financing to scale its team, according to a prepared statement.

Red Canary provides cybersecurity solutions that combine MDR and security orchestration, automation and response (SOAR) capabilities. The company's solutions help organizations reduce time to respond to security incidents and risk per endpoint.

Furthermore, Red Canary provides cybersecurity solutions used by hundreds of organizations globally. Red Canary also has recorded 100 percent annual recurring revenue (ARR) growth year over year in 2018, Summit Partners Managing Director Andy Collins stated -- though actual revenue and income figures were not disclosed.

Red Canary Announces Carbon Black Advanced Threat Hunting Integration

In addition to its growth equity financing announcement, Red Canary in March added support for the Carbon Black CB ThreatHunter advanced threat hunting and incident response solution. Red Canary now delivers the CB Predictive Security Cloud (PSC) endpoint protection platform.

With CB ThreatHunter, Red Canary correlates and visualizes customer endpoint information to provide visibility into IT environments. Red Canary also uses CB ThreatHunter to deliver custom and cloud-based threat intelligence, automated watchlists and security integrations to scale threat hunting across organizations.

Dan Kobialka

Dan Kobialka is senior contributing editor, MSSP Alert and ChannelE2E. He covers IT security, IT service provider business strategies and partner programs. Dan holds a M.A. in Print and Multimedia Journalism from Emerson College and a B.A. in English from Bridgewater State University. In his free time, Dan enjoys jogging, traveling, playing sports, touring breweries and watching football.