Swimlane, a security orchestration, automation and response (SOAR) solution, has secured $40m in a new funding round.
EIP acted as the lead investor. With this capital injection, the company plans to create more partnerships and alliances, expand its research and development efforts, and further its global expansion.
As part of the deal, Swimlane has named James Brear, the former CEO of Veriflow, as its new CEO.
Swimlane was created to offer scalable and flexible security solutions to organisations struggling with alert fatigue, vendor prefoliation and chronic staffing shortages, it claims. The platform offers prioritising alerts, orchestrating tools and automated redemption of threats.
The US-based company operates across North America, Central America, Europe, the Middle East and Australia.
James Brear said, “Without a doubt, automation will be one of, if not the biggest change realized by security operations in a generation. Security automation is a multibillion dollar market, and while hundreds of organizations already benefit from its initial adoption, the broad application of intent-based automation to every aspect of security is still in front of us all.
“Swimlane is acutely focused on improving the automation piece of today’s SOAR solutions. I am thrilled to join the company at this critical moment with the strong support of EIP.”
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