Arctic Wolf collects $60m in Series D as it looks to release new services

Arctic Wolf, a security operations centre (SOC), has collected $60m in its Series D round which was led by Blue Cloud Ventures and Stereo Capital.

Other contributions came from Delta-v Capital and NextEquity Partners, as well as several other new and previous backers.

With the fresh funds, the company will release new services, enter new markets and bolster its position within the managed detection and response market.

The cybersecurity company provides personal, predictable protection from cyber threats. The managed detection and response and managed risk services offer custom threat hunting, alerting and reporting, as well as risk management.

The RegTech increased its customer base by over 130% in 2019 and it has seen a 4,300% revenue growth over the past four years, it claims.

Arctic Wolf CEO and co-founder Brian NeSmith said, “Arctic Wolf’s approach of providing businesses with dedicated experts who know their security landscape, and a predictable pricing structure they can understand, has resonated with organizations of all sizes who are looking to better secure their data.

“This new round of funding will allow us to accelerate the growth of our business so that we can provide even more companies with the personal, predictable protection that Arctic Wolf is known for.”

The company raised $45m in its Series C round back in 2018, with contributions coming from Future Fund, Adams Street, Unusual Ventures, Lightspeed Venture Partners, Redpoint Ventures, Sonae Investment Management and Knollwood Investment Advisory.

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