CrowdStrike Invests in Network Detection and Response Provider Corelight
CrowdStrike has made a strategic investment in network detection and response (NDR) platform provider Corelight. The strategic investment was made as part of a $75 million Series D funding round led by Energy Impact Partners.
Previous investors Accel, General Catalyst, Insight Partners and Osage University Partners also joined the round, as well as new investor H.I.G. Growth Partners, and strategic investment from Capital One Ventures and Gaingels.
The is the second growth investment from the CrowdStrike Falcon Fund, which focuses on early stage and strategic investments in companies that are developing solutions that can be integrated into CrowdStrike’s Falcon endpoint protection platform.
Potential CrowdStrike and Corelight Security Alignment
Naturally, CrowdStrike sees market synergies with Corelight. In short, the companies together will help organizations leverage data-centric security solutions, so they can identify vulnerabilities and resolve security issues faster than ever before, the announcement noted.
Corelight’s software allows security teams to collect network evidence and perform threat investigation, response and remediation, the company says.
Corelight offers “the fastest growing NDR platform,” the company asserts — though actual revenue dollar figures are unknown. Still, venture capitalists appear impressed with the business. Indeed, the company has raised $160 million to date.
Demand for Corelight-type solutions appears to be strong. The worldwide NDR market is projected to expand at a compound annual growth rate of 13.7 percent between 2021 and 2027, industry analyst Precision Reports indicated. Furthermore, this market could be worth more than $4.6 billion by 2027.
Corelight, CrowdStrike and MSSPs
CrowdStrike has growing momentum as a security software provider to MSSPs, according our Top 250 MSSP survey results for 2021 (which will debut in September).
Still, CrowdStrike’s own managed security services compete with some MSSPs on some fronts. Meanwhile, we’ve yet to hear if or how Corelight plans to engage MSSP partners — though the company does have a relationship with Secureworks.