Capital One Ventures Agrees to Invest $24 Million in Securonix as Part of Strategic Partnership
Partnership Accelerates Securonix Platform Innovation and Leadership Position in Cloud-Native Security Analytics
Securonix, Inc., a leader in Next-Gen SIEM, announced that Capital One Ventures has agreed to invest $24 million in the company in conjunction with a strategic partnership. Securonix also announced that Jay Emmanuel, Partner at Capital One Ventures, is joining the company’s board of directors as a board observer, effective immediately.
The strategic investment allows Securonix to continue to accelerate hypergrowth driven by demand for its Cloud SIEM platform. Through this partnership, Securonix will collaborate with the Capital One team to develop new product use cases for monitoring cyberattacks, insider threats, fraud, application security, and OT/IoT security, and drive wider adoption of its Cloud SIEM platform across financial services and other industry segments.
“Capital One has enjoyed unprecedented success in executing a cloud-first strategy to rise to the top of its industry and is an ideal partner in allowing us to further establish our leadership position in cloud-native security analytics and operations,” said Sachin Nayyar, CEO, Securonix. “Joining Capital One’s world-class investment portfolio alongside transformative cloud-native companies, such as Snowflake, strengthens our ability to deliver best-in-class Cloud SIEM while accelerating product innovation and company growth.”
Recommended AI News: StockSnips Inc Launches ESG News Sentiment Product
Securonix offers SaaS-based, multi-tenant security analytics that provide complete visibility and unlimited scalability with no infrastructure cost. Securonix currently serves five of the Global Fortune 10 and has a growing customer base across industry verticals and geographies. Growth points highlighting the company’s recent business traction include:
- 55% YoY growth in annual recurring revenue (ARR)
- 200% YoY growth in SaaS customer bookings
- 142% YoY growth in overall customer bookings
- 54% YoY growth in number of employees
“We are highly selective and strategic in choosing portfolio companies that define the future of enterprises in the cloud,” said Jay Emmanuel, Partner at Capital One Ventures. “As a cloud-native security company, we understand the massive market opportunity Securonix has as organizations are increasingly exposed to the challenges of securing systems and digital services across complex cloud and distributed environments. It’s an honor to welcome Securonix to the Capital One Ventures portfolio and play a role in the company’s continued growth and long-term success.”
Recommended AI News: Army Research Lab Awards ICF $53 Million for Cyber Services