Siemplify Closes $30M in Series C Financing

NEW YORK and TEL AVIV, Israel, May 20, 2019 (GLOBE NEWSWIRE) — Siemplify, the leading independent provider of security orchestration, automation and response (SOAR), today announced that it has secured $30 million in Series C funding led by Georgian Partners.

Siemplify will use these new funds to drive significant expansion of its global go–to–market strategy, as well as further enhance its market–leading security operations platform. Siemplify's existing investors "" 83North, G20 Ventures and Jump Capital "" also participated in the round. The Series C investment brings Siemplify's total funding to date to $58 million, a testament to the company's growing dominance in the SOAR space.

"Siemplify is rapidly solidifying its position as the leading independent SOAR provider, with a differentiated offering and a clear vision of enabling organizations to manage security operations from end to end," said Steve Leightell, partner at Georgian Partners. "We are excited to lead the Series C funding round and to support Siemplify as it continues its fast growth."

This funding round comes amid rapid growth of the SOAR category and on the heels of Siemplify's market–leading momentum, which includes:

  • 1,000% year–over–year growth in 2017 and 280% growth in 2018, further outpacing the competition.
  • 250% growth in annual recurring revenue in the first quarter of 2019.
  • Continued success with leading global enterprises, underscored by recent wins with a Fortune 50 logistics giant, a Fortune 100 media and entertainment conglomerate, a Top 20 European bank and a Fortune 100 technology distributor.
  • Widening leadership in the managed security service provider (MSSP) segment. Siemplify now serves 24% of the companies featured in the 2018 Gartner Magic Quadrant for Managed Security Services, Worldwide.

Faced with a steady increase in the volume of security alerts, disparate security tools not designed to work together and a global cybersecurity talent shortage, security teams are constantly under pressure to do more with less. Siemplify serves as a 10x force multiplier for security teams: the Siemplify platform is an intuitive workbench that enables them to manage security operations from end to end, automate repetitive tasks and integrate security tools to respond to cyberthreats with speed and precision, while getting smarter with every analyst interaction.

"Our security operations platform alleviates the most pressing pain points faced by security operations teams," said Amos Stern, CEO and co–founder of Siemplify. "This significant investment and expertise from Georgian will allow us to expand our global presence and drive further innovation to make security operations smarter, more efficient and more collaborative. And as we continue our journey, nothing makes us more grateful than working alongside and solving challenges for the people to whom we owe our success: our customers and partners."

About Siemplify
Siemplify, the leading independent security orchestration, automation and response (SOAR) provider, is redefining security operations for enterprises and MSSPs worldwide. The Siemplify platform is an intuitive workbench that enables security teams to manage their operations from end to end, respond to cyberthreats with speed and precision, and get smarter with every analyst interaction. Founded in 2015 by Israeli Intelligence experts with extensive experience running and training security operations centers worldwide, Siemplify has raised $58 million in funding to date and is headquartered in New York, with offices in Tel Aviv. Visit us at siemplify.co or follow us on Twitter at @Siemplify.

About Georgian Partners
Georgian Partners is a thesis–driven growth equity firm investing in business software companies leveraging applied artificial intelligence, trust and conversational AI. Founded by successful entrepreneurs and technology executives, Georgian Partners uses its global software expertise to directly impact the success of companies. For more information, visit www.georgianpartners.com or follow us on Twitter at @GeorgianPrtnrs.

Products, service names, and company logos mentioned herein may be the registered trademarks of their respective owners. All rights reserved.

Contacts
Michael Becce
MRB Public Relations, Inc. (for Siemplify)
+1 732.758.1100 x104
mbecce@mrb–pr.com

Comments are closed

RSS Daily Times Nigeria

  • Residents in Syria’s embattled Idlib hold anti-UN protest
    Hundreds of people in Syria’s embattled North-East province of Idlib on Friday took to the streets to protest against the UN Security Council’s failure to adopt a ceasefire resolution. Idlib, Syria’s last key rebel stronghold, had since in April, been the target of a military government campaign supported by allied Russia. The 15-member Security Council […]
  • Applicant docked for stealing phone
    A 22-year-old applicant, Danlami Ibrahim, was on Friday arraigned before a Magistrates’ Court in Minna for allegedly stealing a phone. Ibrahim is standing trial on two-count charge of criminal conspiracy and theft, contrary to sections 97 and 288 of the penal code law Police Prosecutor, Insp. Thomas Peter, told the court that the accused conspired […]
  • Maternal mortality: Rotary donates medical items to FCT
    Rotary International Club, District 9125, on Friday donated medical items to the FCT Administration to reduce maternal and child death in the territory. Dr Kolawole Owoka, who led other members of the club on a courtesy visit to the acting Executive Secretary, FCT Health and Human Services Secretariat (HHSS), Mr Musa Abdulrahim, said that the […]
  • Group to sensitise Ikorodu youths on dangers of engaging in crimes
    Dr Fatai Abatan, President, Ikorodu Division Youths Initiative Movement (IDYIM), said the group would soon organise series of orientation programmes to intimate youths on the consequences of engaging in crimes. Speaking during the inauguration of IDYIM Board of Trustees in Ikorodu on Friday, Abatan said that the group planned to establish a vocational centre where […]

Weather for Abuja

The location could not be found.

RSS Vanguard News

  • United States to send troops to bolster Saudi defences
    United States President Donald Trump on Friday approved sending American troops to bolster Saudi Arabia’s air defences after the largest-ever attack on the kingdom’s oil facilities, which Washington has squarely blamed on Iran. The Pentagon said the deployment would involve a moderate number of troops – not numbering thousands – and would be primarily defensive […]
  • Why the nation slept through the ‘Landmark judgement’
    Several years ago, I was in a plane with two veteran journalists, Chief Eddy Aderinokun and Mr Olu Akaraogun. We were on our way to Yola to see Alhaji BamangaTukur. The late Akaraogun, one of the most versatile journalists of his generation, sat next to me. As usual, we were discussing politics and the state […]
  • Toni Conceicao: Former Portugal international named Cameroon coach
    Former Portugal international Toni Conceicao has been named as the new coach of the Cameroon national team, sports minister Narcisse Mouelle Kombi announced on Friday. Continue reading Toni Conceicao: Former Portugal international named Cameroon coach at Vanguard News.

© 2019 Nigeria Newsline. All Rights Reserved. Log in -