Big data security analytics company Securonix has raised $29 million in Series A round led by Volition Capital and Eight Road Ventures. Following the round, Roger Hurwitz of Volition Capital will be joining the Securonix Board of Directors.
The company will use funds for accelerating growth and leadership in the user behavior analytics, next-gen security information and event management (SIEM), and log management market spaces.
“Securonix has the foundation, vision, and management team to lead the security analytics market,” said Roger Hurwitz, Managing Partner of Volition Capital in a press statement. “Securonix’s SNYPR Security Analytics platform is enabling organizations to quickly detect, triage, and mitigate the risks of advanced threats.”
Founded by Sachin Nayyar in 2007, Securonix has offices in Bengaluru and Pune in India.
Securonix uses the power of Hadoop and machine learning technology to radically transform enterprise security with actionable intelligence. It’s transforming the security log management space using a Hadoop open data platform and machine learning capabilities to transform massive volumes of data into actionable intelligence.
The company’s clientele base includes industry verticals and includes more than a third of the Fortune 500 companies. Over the past year, it has grown from 180 employees to over 300 located across the globe.
“We have a tremendous opportunity to establish Securonix as a platform of choice for security analytics, and this investment and the experience the partners bring will help us reach that next level of growth,” said Sachin Nayyar, CEO and Founder of Securonix.
Cyber attacks are becoming more sophisticated and rampant in recent time. Earlier in May this year, WannaCry, an advanced ransomware attack infected about 40,000 computers in India. India was the third worst hit nation by ransomware globally.
Meanwhile, to tackle threat like WannaCry, the Indian government is working to come up with cybersecurity standards for mobile devices and a regulation to tackle ransomware soon.