Arctic Wolf Funding Rumor, Previous Venture Capital Rounds
The new funding round is expected to be led by existing investor Viking Global Investors, with participation from such existing investors as Lightspeed Venture Partners, Redpoint Ventures and Unusual Ventures, Bloomberg reports. Neither Arctic Wolf nor Viking Global offered a comment to Bloomberg about the rumored new funding round.If the funding rumors are true, then Arctic Wolf's valuation has more than tripled in less than a year. Moreover, the new round would be the security startup's third raise in little more than one year. Two earlier rounds, according to MSSP Alert, involved:
MDR Market Growth, Funding, Mergers and Acquisitions
Arctic Wolf appears to be growing rapidly. Still, actual revenue and net income figures are undisclosed, and the MDR market is crowded with competition.Indeed, dozens of security companies and investors have focused long-term and/or pivoted aggressively into the MDR market. The reason: The global MDR market is forecast to have a 16.4 percent compound annual growth rate (CAGR) from 2020 to 2024, with worldwide revenues expected to reach $1.9 billion by 2024, Frost & Sullivan predicts.Among the key MDR market developments that MSSP Alert has tracked so far in 2021:
Dell Technologies & Secureworks introduced an MDR service to protect endpoints, data center networks & cloud services. Dell owns Secureworks, though rumors about the PC giant potentially selling the MSSP pop up from time to time.
MDR's Next Wave: XDR (eXtended Detection and Response)?
Still, all of that activity comes amid another potential market shift. Some MDR providers now emphasize more of an XDR security approach -- which provides a unified view of endpoint, network and cloud security, and more.
Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.
Reuters reports that interest in acquiring U.S.-Japanese cybersecurity firm Trend Micro, which counts Microsoft, McAfee, CrowdStrike, and Palo Alto Networks as its competitors, has escalated among private equity firms in recent weeks.