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

  • Daily Times Newspaper, Monday, June 24, 2019
    The post Daily Times Newspaper, Monday, June 24, 2019 appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers
  • Nigeria’s current challenges, signs of greatness, says Osinbajo
    …Urges Nigerians to keep praying for the nation Mathew Dadiya with agency report The Vice President, Professor Yemi Osinbajo (SAN), has said the current challenges facing Nigeria were signs that the country was bound for greatness. Osinbajo made the statement on Sunday while addressing the congregation during service at a branch of the Redeemed Christian […]
  • Commercial banks deposit with CBN hits N1.1trn in 11 days
    …Reduce borrowing to N479bn Motolani Oseni Deposit Money Banks (DMBs) operating in the country have increased their deposits with the Central Bank of Nigeria (CBN) to a whopping N1.14 trillion in just 11 business days, The Daily Times checks revealed. Latest financial data of the CBN, however, showed that a total sum of N479 billion […]
  • SERAP sues CCB, wants asset declaration of public officials made public
    The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit in the Federal High Court, Lagos, against the Code of Conduct Bureau (CCB) over the CCB’s claim that it could not disclose details of asset declarations submitted to it by successive presidents and state governors since 1999 because doing so “would offend the right […]

Weather for Abuja

The location could not be found.

RSS Vanguard News

  • 3 die as Akwa Ibom communities clash over woman’s extra-marital affair
    Uyo—NO fewer than three persons have been reportedly killed following a clash that erupted between Ikot Osute and Ikot Ukpong villages in Oruk Anam Local Government Area of Akwa Ibom State, yesterday. Continue reading 3 die as Akwa Ibom communities clash over woman’s extra-marital affair at Vanguard News.
  • 5 reasons Nigeria will remain poverty capital until 2023
    POSSIBLY, several of the card carrying members of the All Progressives Congress, APC, present clapped lustily when the President made that statement. That is to be expected. Loyal politicians at campaign rallies are not expected to think critically about what their leaders say. Their role is to applaud anything pronounced. Other observers still in possession […]
  • The plight of state pensioners
    It is worrisome that after many years, the National Pension Commission, PENCOM, is reporting that only 15 states have made progress in the implementation of the scheme, while only eight out of the remaining 21 states have sent bills for its enactment. Continue reading The plight of state pensioners at Vanguard News.

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