Security Operations Firm Arctic Wolf Raises $150 Million at $4.3 Billion Valuation
SOC-as-a-service solutions provider Arctic Wolf on Tuesday announced raising $150 million in a Series F funding round, at a valuation of $4.3 billion.
Viking Global Investors, Owl Rock and other existing investors took part in the funding round. Arctic Wolf plans on using the money to expand operations globally, bring new products to market, and continue accelerating its market momentum.
Founded in 2012, Arctic Wolf offers solutions for companies that don’t have an in-house security operations center (SOC), or ones that have difficulties staffing their SOC.
The company provides managed detection and response, risk management, cloud monitoring, and security awareness solutions.
Arctic Wolf claims to have roughly 3,000 customers and it reported a 100% growth in year-over-year annual recurring revenue in the past seven years. The company said it hired 400 people over the last year, and it plans on bringing in 500 more in the coming year.
The company achieved unicorn status in 2020, after raising $200 million in a Series E funding round. In total, it has raised nearly $500 million.
“This investment in Arctic Wolf will allow us to innovate our offerings, hire category experts, and expand our operations around the world,” said Arctic Wolf CEO Brian NeSmith. “It will allow us to continue proving our value proposition and show customers worldwide that traditional security methods and technologies aren’t keeping pace with the evolving threat landscape. We will continue building a highly-scalable, cloud-native Security Operations platform to deliver unparalleled speed, capacity, effectiveness, and protection.”