Hacker Detection Firm Vectra Networks Raises $36 Million
Vectra Networks, a cybersecurity firm that helps customers detect "in-progress" cyberattacks, today announced that it has closed a £36 million Series D funding round, bringing the total amount raised to date by the company to £123 million. The company said the investment would be used to expand sales and marketing, fuel product development of its Cognito threat hunting platform, and open a new research-and-development (R&D) center in Dublin, Ireland. Vectra describes its flagship Congito platform as a solution that "performs non-stop, automated threat hunting with always-learning behavioral models to quickly and efficiently find hidden and unknown attackers before they do damage."
The Series D funding round was led by growth equity fund Atlantic Bridge, with the Ireland Strategic Investment Fund (ISIF) and Nissho Electronics Corp. Returning investors Khosla Ventures, Accel Partners, IA Ventures, AME Cloud Ventures, DAG Ventures and Wipro Ventures also participated in the funding.
"This is an exciting investment for ISIF that promises significant economic impact for Ireland," said Fergal McAleavey, head of private equity at ISIF. "It is encouraging to see Ireland leverage its emerging expertise in artificial intelligence by attracting businesses such as Vectra that are on the leading edge of technology.
With cybersecurity becoming critical for all organizations, we are confident Vectra will deliver a strong economic return on our investment while creating high-value R&D employment here in Ireland."
The new Dublin facility is expected to add up to 100 jobs in Ireland over the next five years, the company said.Vectra also has R&D facilities in San Jose, Calif., Austin, Texas and Cambridge, Mass.