Securonix, a provider of cybersecurity solutions, has secured more than $1 billion in funding. Vista Equity Partners led the round with participation from Volition Capital and Eight Roads Ventures. Citi is serving as financial advisor to Securonix on the transaction.
ADDISON, Texas–(BUSINESS WIRE)–Securonix, Inc., a leader in Next-Gen SIEM and XDR, today announced it has received a more than $1 billion growth investment led by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, with participation from Volition Capital and Eight Roads Ventures. The investment gives Securonix the capital and expertise to continue its hypergrowth trajectory while meeting record customer demand, further validating its leadership position in cloud-native security analytics and operations.
“Securonix is driven by technology innovation and a passionate mission to address the cybersecurity challenges faced by organizations globally. We solve a very tough problem that requires excellence across multiple domains, including product engineering, threat detection/hunting, data science, and operations. This funding will help us accelerate investments in these areas and continue to provide a world-class service to our customers,” said Sachin Nayyar, CEO and co-founder, Securonix. “We pioneered User Entity Behavior Analytics (UEBA) with an analytics-centric approach to security monitoring, extended to next-gen SIEM with a scalable cloud-native architecture, and introduced Open XDR and SOAR capabilities to deliver a true end-to-end security operations fabric for threat detection and response. Our goal is to extend this to the application layer and to OT and IoT. Vista’s proven track record of partnering with next-gen, hypergrowth SaaS companies will advance our mission and allow us to help our customers solve these problems.”
Securonix offers the leading SaaS-based, multi-tenant security analytics, operations and response platform that provides complete visibility, advanced detection and response, and unlimited scalability. Securonix currently serves five of the Global Fortune 10 and accelerated its growth over the past 12 months, which is demonstrated through:
100% SaaS ARR growth
240% YoY new MSSP logo bookings growth
100% YoY employee headcount growth, eclipsing 1,000 employees worldwide
The company was named a Leader for the third consecutive time in the 2021 Gartner Magic Quadrant for Security Information and Event Management (SIEM)1, positioned furthest for completeness of vision, and scored highest across all three use cases in the 2021 Gartner Critical Capabilities for Security Information and Event Management (SIEM)2. Recent product innovation includes new flexible deployment models including ‘Bring Your Own Snowflake’ and ‘Bring Your Own AWS’ that align with customers’ cloud strategies and overall business needs, and the launch of Securonix Open XDR, SOAR, and Autonomous Threat Sweeper (ATS).
“As a next-gen SaaS company with a strong leadership team, differentiated platform, and passionate customer base, Securonix is leading the SIEM and XDR markets at a time of significant transformation,” said Michael Fosnaugh, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “It’s a privilege to partner with talented founders like Sachin and Tanuj, and we look forward to supporting the entire Securonix team to help advance their vision and set the standard for modern security analytics and operations.”
The new funding allows Securonix to make significant investments in global talent acquisition, adding senior leaders across engineering, cloud operations, threats labs, and sales and marketing. As a Vista portfolio company, Securonix will benefit from its industry expertise with next-gen SaaS companies and a vast ecosystem to help scale operations and accelerate product innovation.
“Since inception, Securonix has been steadfast in its commitment to develop innovative products that solve the difficult problem of identifying and responding to advanced security threats while meeting the needs of scalability, cloud readiness, and operational efficiency,” said Tanuj Gulati, CTO and co-founder, Securonix. “We look forward to this partnership with Vista to support our goal of enabling leading enterprises and managed service providers to secure their infrastructure, network, and applications against advanced threats with speed and efficiency.”
“Securonix has established a mission-critical business that is uniquely qualified and well positioned to redefine the SIEM industry,” said Rod Aliabadi, Managing Director at Vista. “We are excited to partner with their exceptional team as they expand into new markets and continue to innovate with their products and solutions.”
Citi is serving as exclusive financial advisor to Securonix, and Fenwick & West LLP is acting as legal counsel. Kirkland & Ellis LLP is serving as legal counsel to Vista.
About Vista Equity Partners
Vista is a leading global investment firm with more than $86 billion in assets under management as of September 30, 2021. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit, and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.