Red Canary, a Top 250 MSSP and Top 40 MDR (managed detection and response) provider, has secured $81 million in a Series C financing round led by growth equity investor Summit Partners. The financing brings Red Canary's total funding to more than $125 million.With the Series C funding, Red Canary plans to invest in research and development and expand its sales and marketing teams, according to the company. Red Canary also will use the funding to explore ways to meet growing demand for its security operations and MDR solutions.270 percent revenue growth over the past two years 100 percent growth in customers from channel partners in 2020 100 percent growth in sales and customer success teams in 2020 The company did not disclose actual revenue or profit dollar figures.Meanwhile, the Series C funding also helps Red Canary capitalize on rising demand for MDR solutions around the world.Global MDR market revenues are expected to increase at a compound annual growth rate of 16.4 percent between 2020 and 2024, industry analyst Research and Markets noted. In addition, these revenues could exceed $1.9 billion by 2024.