Financial Technology

Financial Technology

July 13, 2012

Alien Vault Raises $22.4M in Series C Financing

AlienVault (News - Alert), the only open and collaborative unified security management platform delivering integrated controls and full visibility, recently raised $22.4 million in a Series C funding round led by Kleiner Perkins Caufield & Byers (KPCB) and Sigma. The funding round also had Trident Capital and Adara Venture Partners as participants.

According to the officials from Alien Vault, the amount will be used to expand the company’s operations as well as its research and development activities. KPCB Managing Partner, Ted Schlein, will now join AlienVault's board of directors.

"Watching the new executive team and founders come together and execute our mission for Unified Security Management has been astounding. AlienVault's rapid expansion is a tribute to a great group of experienced leaders and innovative security professionals whose work will inevitably change the business of security as we know it,” said J. Alberto Yepez, managing director at Trident Capital and AlienVault's Chairman (of the Board of Directors). “AlienVault is a cornerstone in Trident Capital's comprehensive portfolio of leading security investments including Mocana, Qualys, Solera Networks and Voltage Security (News - Alert). We welcome the new investors and board members who share our vision and passion for making security 'visibility' a reality for all."

AlienVault serves over 300 customers, including some of the biggest names in software, financial services, higher education, telecommunications, state and local government and insurance, and have chosen AlienVault for its cost-effective, comprehensive security management platform.

The company has added over 60 net new customers in the first half of 2012, and is enjoying over a 50-percent upsell rate into existing customers.

AlienVault was recently recognized by Red Herring (News - Alert) as one of their Top 100 North America Tech Startups for 2012, and by AlwaysOn as an OnDemand Top 100 Private Companies for 2012.

"Having been involved in the SIEM market since its inception, I have a deep appreciation for the new and exciting direction AlienVault is taking the technology and the market,” said Ted Schlein, managing partner, Kleiner Perkins Caufield & Byers. “Their open and collaborative Unified Security Management platform provides the kind of security visibility that no one has been able to deliver on yet. I'm very glad to be partnering with such a seasoned and successful team of executives to help evolve the security and SIEM markets."

Want to learn more about the latest in communications and technology? Then be sure to attend
ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO click here.

Stay in touch with everything happening at ITEXPO. Follow us on Twitter.

Edited by Braden Becker

blog comments powered by Disqus