Channel investors, Content, MDR

MDR Security Startup GoSecure Raises $35 Million

Credit: GoSecure

Managed detection and response (MDR) cybersecurity startup GoSecure has raised $35 million in Series E funding. Key investors include W Investments Group and Yaletown Partners. The valuation terms were not disclosed.

CounterTack CEO Neal Creighton
GoSecure CEO Neal Creighton

The new funding essentially completes a round that was first announced in July 2020. As part of that July 2020 statement: GoSecure said that it had:

  • 200 employees who serve more than 2,000 customers.
  • grown more than 425 percent over the past two years, though actual revenue and profit figures were not disclosed. MSSP Alert does not know how much of the growth involved acquisitions -- such as CounterTack merger in 2018 and the EdgeWave acquisition of 2019.

Fast forward to present day, and GoSecure reiterated the 200-employee headcount today, but the company did not provide a specific customer count or growth rate figure.

Still, GoSecure CEO Neal Creighton says the company "continues to add new customers at the highest rate in our history."

MDR Market Growth, Funding and Acquisitions

No doubt, the MDR market is growing rapidly. But it's also flooded with entrenched security companies and venture-backed startups that are striving to grab market share.

Recently funded MDR security companies focused on MSP partners include Huntress and Red Canary. Also, M&A activity in the MDR security market remains strong.

Joe Panettieri

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.