Threat Stack Secures $15.3 Million in Series B Funding to Drive More Efficiency for Cloud Security Teams
Scale Venture Partners Leads Round; Market Demand and Rapid Customer Growth Key to Series B Funding Round
BOSTON – April 19, 2016 – Threat Stack, a leader in cloud security and compliance management, today announced it secured $15.3 million in Series B funding, led by Scale Venture Partners (Scale), with participation from all existing investors, including Accomplice and .406 Ventures. Threat Stack today also announced that Ariel Tseitlin, a partner at Scale, will join the company’s Board of Directors. The latest round of funding brings total investment in Threat Stack to more than $26 million. Threat Stack Series B funding comes on the heels of the company’s record year of customer growth in 2015 and the launch of the Threat Stack Cloud Security PlatformTM (CSP) in early 2016. The new capital will be used to double headcount in the next year, bolstering sales, marketing, and engineering to further enhance product capabilities and user experience. Threat Stack will also use funding to support expansion into a new Boston headquarters in the coming months. “We are thrilled to bring Threat Stack into our strong portfolio of cloud businesses. Threat Stack’s rapid quarter-over-quarter growth and industry-leading approach to cloud security made this a compelling investment for us.There is a big gap in the security needs of cloud-native application and the capabilities of security tools in the market, and Threat Stack fills that gap with a unique product that’s easy to use and scale,” said Tseitlin. “I look forward to Threat Stack’s further expansion in the market as enterprises of all sizes continue to build rapidly and securely in the cloud.” “Threat Stack’s Cloud Security Platform has enabled us to grow faster by replacing point tools and using security resources dedicated to our cloud environment more efficiently,” said Jarrod Sexton, senior security engineer for Interactive Intelligence. “By enabling us to more quickly and cost-effectively identify and resolve security issues, Threat Stack has proven to be an invaluable partner.” The cloud-native, fully-integrated Threat Stack Cloud Security Platform supports security insight across all environments, cloud security providers and containers, eliminating the need for fragmented solutions and reducing the complexity of security concerns facing IT leaders and CISOs. With integrated security data from all aspects of the cloud environment, customers achieve a faster time to resolution and an overall lower total cost of ownership. Threat Stack’s CSP is used by companies in the healthcare, fintech, and SaaS sectors, among others. “Since I joined Threat Stack a year ago, we’ve experienced incredible business momentum. Our growth is not only across our customer base but also as a team working passionately to build a security and compliance solution that meets the growing needs of modern cloud infrastructure,” said Brian M. Ahern, Chairman and CEO, Threat Stack. “This latest round of funding validates our approach to the market, and will fuel further enhancement of Threat Stack’s Cloud Security Platform to improve operational efficiency, while resolving security and compliance challenges for customers across all industries.” Today’s fastest growing companies are relying on modern cloud infrastructure to fuel speed to market, innovation and scale. Resources are at a premium while security risk is greater than ever. According to a recent Enterprise Strategy Group (ESG) survey of cyber security and IT professionals,“34 percent said their organization finds it challenging to monitor workloads across clouds. This could be related to workloads within hybrid clouds, or it could indicate monitoring challenges with workloads across heterogeneous private or public cloud infrastructure.” For more information on Threat Stack, please visit threatstack.com.