VC-backed Arctic Wolf acquires RootSecure Corp


Arctic Wolf Networks has acquired Sunnyvale, California and Waterloo, Ontario-based RootSecure Corp, a provider of advanced cybersecurity risk assessment solutions. No financial terms were disclosed. Arctic Wolf is backed by Future Fund, Adams Street, Unusual Ventures, Lightspeed Venture Partners, Redpoint Ventures, Sonae Investment Management and Knollwood Investment Advisory LLC.

PRESS RELEASE

SUNNYVALE, CA – December 12, 2018 – Arctic Wolf Networks (AWN), a leading security operations center (SOC)-as-a-service company, today announced the acquisition of RootSecure Corp., a leader in advanced cybersecurity risk assessment. RootSecure provides innovative risk-based vulnerability assessment solutions that continuously probe networks, discover connected devices, and test an organization’s social engineering resilience. The acquisition enables mid-market enterprises to better assess and manage their cybersecurity risk in addition to leveraging Arctic Wolf’s AWN CyberSOC™ service to detect and respond to cyberthreats.

“As customers embrace SOC-as-a-service, they also want to understand their vulnerabilities,” said Brian NeSmith, CEO and co-founder of Arctic Wolf. “This acquisition augments our current offerings by adding comprehensive risk assessment to improve any customer’s overall cybersecurity posture.”

Founded in 2017 and based in Canada, RootSecure quantifies cyber and data risk, arming information technology and security teams with real-time, actionable insight from comprehensive and continuous vulnerability assessment of networks, devices, and people.

This news comes on the heels of Arctic Wolf’s recently announced $45 million Series C funding round, highlighting the company’s immediate plans to leverage the new funds to accelerate company growth and provide expanded offerings to its vast range of customers, which has grown by 219% year-over-year.

“Organizations are constantly challenged to keep up with the proliferation of devices and their inherent vulnerabilities. Locating devices, prioritizing vulnerabilities, and helping to remediate those vulnerabilities helps improve enterprise security hygiene. Pairing our continuous vulnerability scanning technology with Arctic Wolf’s SOC-as-a-service offering will enable customers to see a more holistic view of their security posture, in order to more quickly identify any cyber exposure gaps,“ said James Mignacca, CEO of RootSecure.

Arctic Wolf allows companies of all sizes to combat the cybersecurity skills shortage and cost-prohibitive nature of building their own SOC. In fact, a recent cost analysis from Frost & Sullivan revealed that organizations with few, if any, dedicated infosecurity personnel could spend up to nearly 10 times more over a three-year period building and operating their own SOC than if they implemented a SOC-as-a-service, such as Arctic Wolf’s AWN CyberSOC™.

The award-winning, turnkey SOC-as-a-service installs in minutes and provides value from day one, delivering superior threat detection and fewer false positives by leveraging key innovations, including Concierge Security™ teams and hybrid AI, merging the efficiency and scalability of artificial intelligence with the world-class experience and intuition of our security engineers.

The Arctic Wolf RootSecure product portfolio can be deployed separately or in conjunction with the AWN CyberSOC. The Arctic Wolf RootSecure solution portfolio is available immediately.

About Arctic Wolf:
Arctic Wolf Networks provides SOC-as-a-service that is redefining the economics of security. The AWN CyberSOC™ service is anchored by Concierge Security™ engineers and includes 24×7 monitoring, custom alerting, and incident investigation and response. There is no hardware or software to purchase, and the end-to-end service includes a proprietary cloud-based SIEM, threat intelligence subscriptions, and all the expertise and tools required. For more information about Arctic Wolf CyberSOC, visit https://arcticwolf.com.

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