Vectra, a company that provides an artificial intelligence-based threat detection and response platform, has raised $100 million in a Series E funding round led by growth equity firm TCV. The funding brings Vectra's total financing to date to more than $200 million.
Series E, by the way, typically signifies that a company is nearing the late stages of funding and may consider a strategic event as its next move -- such as an IPO (initial public offering) or company sale to a strategic buyer.
Vectra's Security Technology: How Does It Work?
Vectra's Cognito collects and stores network metadata and enriches it with machine learning, Vectra indicated. By doing so, Cognito detects cyber threats in real-time and provides a conclusive chain of evidence to drive threat investigations.
Three Cognito solutions are available:
- Cognito Detect: Uses AI to detect and prioritize in-progress cyberattacks.
- Cognito Recall: Offers AI-powered threat hunting.
- Cognito Stream: Provides network metadata to feed custom threat detection and response tools.
Furthermore, Cognito automatically triages cyber threats based on risk level. It also provides threat insights to help end users quickly address cyberattacks, Vectra said.
Vectra Hires Cylance Veteran as VP of Worldwide Channels and Alliances
In addition to its $100 million Series E funding round, Vectra in March hired Cylance veteran Didi Dayton as its VP of worldwide channels and alliances. Dayton is responsible for Vectra's worldwide channel programs and oversees the global delivery of the company's products to solution providers and partners.
Back at Cylance, Dayton drove the endpoint protection company's expansion beyond traditional channel partners toward MSPs and MSSPs. We'll be watching for potentially similar moves at Vectra.
Vectra applies AI to detect and respond to cyberattacks in cloud, data center and enterprise infrastructure in real-time. The company experienced 104 percent year-over-year annual recurring revenue growth in 2018.
Additional insights from Joe Panettieri.