Arctic Wolf raises $150M in a Series F round at a valuation of $4.3B

SaaS News -Arctic-Wolf-secures-$150M-at-Series-F,-tripling-its-valuation(source: SaaS Industry)
Powered by SaaS Industry
At a Glance

Arctic Wolf, a cybersecurity operations firm, has raised $150 million in a Series F funding round, valuing the firm at $4.3 billion. The additional funds will be utilized to keep the company on track and improve its mergers and acquisitions strategy. Arctic Wolf’s cloud security operations platform provides small and mid-sized enterprises with round-the-clock security monitoring.


Arctic Wolf, a cybersecurity operations provider, has announced that it has raised $150 million in a Series F funding round at a valuation of $4.3 billion. The investors in the round include Viking Global Investors, Owl Rock, and other existing investors.

The new funds will be utilized to maintain the company’s momentum and expand its mergers and acquisitions strategy.

Arctic Wolf, which uses its cloud security operations platform to provide round-the-clock security monitoring for small and mid-sized businesses, saw its revenues quadruple due to fast platform adoption, with over 60% of its 3,000 clients utilizing at least three of its security operations products.

Since the founding of the company, we believed that the Security Operations market is ripe for disruption as existing solutions were failing customers and not keeping pace with the increased sophistication of cyberattacks. The valuation we received during this funding round is not only a testament to our enormous success in establishing Arctic Wolf as the leader in Security Operations but also speaks to the explosive global demand we are seeing from organizations looking to protect their hybrid work environments, drive secure cloud adoption, and formulate an actionable strategy to end cyber risk. We are thankful to our customers and partners who put their trust in us every day to be their first and last line of defense as we reinvent this market together.”

Brian NeSmith, CEO of Arctic Wolf

Since its inception in 2012, Arctic Wolf has completed three acquisitions, the most recent cybersecurity vulnerability assessment firm RootSecure in 2018. It plans to expand that number over the next 12 months dramatically.

We’ve got letters of intent for a couple more, and I expect that over the next year, we’ll probably make between five and ten acquisitions.

Brian NeSmith, CEO of Arctic Wolf

Arctic Wolf is beginning to consider its exit plan now that it has received Series F investment. While the firm considers its alternatives, NeSmith tells TechCrunch that an IPO is likely the next natural step.

I think ultimately the exit is IPO. That’s the most likely outcome. Frankly, from some of the companies I’ve seen IPO over the last three-six months, we could be a public company today. We’re a little more measured, so we want to realize that not being public is an end point, you’re just changing the way you run the company.

Brian NeSmith, CEO of Arctic Wolf


Pravin Vazirani, managing director and co-head of Technology Investing, Owl Rock, a division of Blue Owl Capital, “We were incredibly impressed by the Arctic Wolf management team and the company’s relentless execution and growth. We believe the company is emerging as the clear leader in the market and is an essential partner to every organization today that is challenged by the skills shortage in cybersecurity and at the same time is looking to securely take advantage of mega technology trends that are driving the need to adopt solutions like the Arctic Wolf platform to secure cloud, network, and data assets.”

Total
0
Shares
Previous News Post
Next News Post
Related Posts

Become SaaS smart in just 5 minutes

Get the daily email that makes reading the SaaS news actually enjoyable. Stay informed and stimulated, for free