BOULDER, Colo. – July 6, 2022 – Swimlane, the low-code safety automation firm, right this moment introduced a $70 million progress funding spherical led by Activate Capital. Current buyers Vitality Affect Companions (EIP) and 3Lines Enterprise Capital additionally participated within the spherical. The brand new funding will speed up the corporate’s ongoing progress and operations on a world scale whereas persevering with to advance its platform improvements in safety automation forward of the competitors.
Automation has turn out to be a must have expertise for safety operations, evident from latest Presidential Govt Orders, an unsolvable expertise scarcity and an ever-increasing quantity of menace telemetry. Swimlane not too long ago launched Turbine as the answer — a breakthrough in low-code automation that captures hard-to-reach telemetry and expands actionability past closed prolonged detection and response (XDR) ecosystems.
As a part of the funding, the corporate additionally introduced that Raj Atluru, Managing Companion at Activate Capital, will be a part of the Swimlane Board of Administrators.
“We invested in Swimlane as a result of we imagine within the firm’s potential to unlock essentially the most helpful product developments prospects demand for safety automation inside and outdoors the SOC,” stated Atluru. “Swimlane has transcended conventional SOAR and risen to fulfill the rising want for low-code safety automation to assist organizations quantify enterprise worth, overcome course of and information fatigue, and fight persistent staffing shortages.”
Sameer Reddy, Managing Companion at Vitality Affect Companions stated, “Safety operations right this moment is at a important inflection level. Organizations don’t have sufficient folks, cash, or sources to deal with all of their safety workflows throughout all the group, whereas additionally responding to threats the second they occur. Automation should play a important function in addressing these challenges and Swimlane is extremely well-positioned because the main unbiased safety automation platform.”
In response to Niloofar Razi Howe, Swimlane Board Member and long-time cybersecurity veteran, “The accelerating tempo of menace telemetry coupled with a quickly increasing assault floor is outstripping the power for people to behave. Swimlane is filling in one of many largest gaps in cybersecurity right this moment by placing people again in management with a low-code strategy to safety automation.”
“We’re very pleased with the worldwide traction and outcomes now we have achieved,” stated James Brear, CEO of Swimlane. “In addition to our hyper income progress, now we have achieved over 120% of web retention and product growth. Our cloud product has seen a 5X enhance in adoption over 2021 and our progress during the last 4 years is over 700%. This can be a testomony to our customer-first mindset and assembly all of the use case necessities our prospects demand.”
The brand new funding will even speed up the expansion of Swimlane’s international accomplice community and create new market alternatives by companions in all main geographies. It will embody technical accomplice assist and enablement to assist companions unlock the ability of automation past simply menace response.
“Organizations throughout industries are dealing with a extra refined and focused menace panorama than ever earlier than,” stated John Vanderzon, CTO of Solar Administration, which additionally joined the expansion spherical of funding. “We invested in Swimlane for its clever strategy to fixing a long-term downside. We see Swimlane as a paradigm shift much like what we noticed with Palo Alto Networks after we ran 4 of their betas in 2007. We search for expertise that solves issues intelligently, and Swimlane’s low-code safety automation goes above and past to offer firms the ability to cease threats on the level of inception in a quickly increasing assault floor — with out the necessity to rent extra folks.”
About Swimlane
Swimlane is the chief in cloud-scale, low-code safety automation. Swimlane unifies safety operations in-and-beyond the SOC right into a single system of file that helps overcome course of and information fatigue, persistent staffing shortages, and quantifying enterprise worth. The Swimlane Turbine platform combines human and machine information into actionable intelligence for safety leaders. For extra data, go to swimlane.com or be a part of the dialog on LinkedIn, Twitter and YouTube.
