Swimlane Raises $70M; Repositions From SOAR to Low-Code Security Automation

Swimlane, a security automation platform provider, has added $70 million in a growth funding round led by venture capital and growth equity firm Activate Capital. The deal's valuation was not disclosed.

The company also announced that Activate Managing Partner Raj Atluru will join its board of directors.

The growth funding will help Swimlane extend its global market reach through its partners, the company said. In addition, Swimlane will use the funding to expand its technical partner support and enablement capabilities, and enhance its security automation platform.

The new funding arrives roughly 17 months after Swimlane raised $40 million in January 2021. At that time, Swimlane positioned itself as a SOAR (security automation, orchestration and response)n software provider. Fast forward to July 2022, and Swimlane now positions itself as a low-code security automation company that unifies security operations.

Swimlane's key MSSP partners and channel partners include Optiv, Cyderes (formerly Fishtech Group), and iSOC24, just to name a few.

Swimlane Unveils Low-Code Security Automation Platform

The latest growth funding announcement comes after Swimlane in June 2022 introduced its Turbine low-code security automation platform.

Turbine lets organizations ingest, enrich and act on petabytes of data at machine-speed, the company said. The platform's features include:

Turbine will be available to new Swimlane customers in July 2022.

A Closer Look at Swimlane

Swimlane claims it's the largest and fastest-growing pure-play security automation company. It combines human and machine data into intelligence to help organizations unify their security operations and overcome process and data fatigue and staffing shortages. Meanwhile, Swimlane achieved "hyper revenue growth" in 2021, CEO James Brear said.

Some of the company's notable results during this period include:

Swimlane offers a partner program for MSSPs and MSPs. The program lets partners integrate Swimlane capabilities into their offerings and provides access to the company's security experts and marketing and sales tools and resources.