It gives me great pleasure to share our momentum with you – just as we turn 3 years old, we have secured our Series B funding of $25M from top-tier investors: Outpost Ventures, an investment platform of NB Alternatives Advisers LLC, Xerox Ventures and G Squared, along with continuing participation from our existing investors – Foundation Capital, Point72 Ventures and Cervin Ventures. Our angel investors – Dan Warmenhoven, Godfrey Sullivan and Nikesh Arora – continue to see the value we provide to our customers and the innovation we bring to the industry, and hence remain strong supporters.
2019: Getting ready to raise our Seed round.
Winding the clock back to the start, we began with a vision to simplify security operations – by automating the SOC workflow and by ‘cloudifying’ legacy SIEM and analytics stacks. To accomplish this, we knew customers needed a cloud-first, security domain-specific platform, built on a cloud security data lake agnostic to traditional logging and SIEM products, that included data normalization, a code-less behavioral attack-pattern detection builder, enrichment, hunting methodology, triage playbooks and APIs. That’s how the journey began. And we set out hiring not just architects and programmers but also security practitioners who had actually lived the complex life we were trying to simplify. That combination proved to be the most effective approach we could have taken and was our most important hiring decision in the early days. This is what we planned to deliver with our Seed round financing, led by Foundation Capital and Point72 Ventures, along with our angel investors Dan Warmenhoven and Nikesh Arora, who readily saw the strength of our vision.
2021: Getting ready for our Series A round.
In order to realize this vision, we required a sequenced breakdown of tasks, delivered in consumable chunks to customers, and continuously built upon while keeping the chunks seamlessly connected. And testing it with real-world customers who would provide good feedback and validation. In that journey, the first order task for us was to make detections simpler to devise and implement, while increasing efficacy. We called this detection engineering automation – we identified weaknesses, recommended detections, provided standardized (to our framework) out-of-the-box code embedded with normalization code, and easy implementation in the underlying logging engine. Since customers were already collecting raw data and had log repositories, we wanted to be agnostic to the logging repository and liberate detection engineers from the rigidity of underlying stacks. This is what we accomplished at the time of raising our Series A financing, led by Cervin Ventures.
2022: Getting ready for our Series B round.
Next up, as customers got comfortable with our detection engineering automation, they asked for more – what next? Further augmentation of detections via hunting automation was the logical next step. Many organizations ignored this task as they were not equipped in skills or technology but with our AI-driven approach, the seemingly impossible started to become possible. In addition, customers expressed the need for more out-of-the-box detection techniques, including techniques to understand cloud workload logs and alerts from various point detection products like EDRs. As a result, we strengthened our Armory, and built our expert research and purple team, The Forge.
Meanwhile, a growing trend in the industry to unlock enterprises from legacy logging stacks had started to grow in popularity – while this trend has barely scratched the surface of the overall opportunity it is in lock-step with our vision to liberate the legacy SOC stack from old technology that was not built for the cloud world, and siloed in its operation. Our vision to be the common underlying platform that unifies and correlates across log repositories, cloud workloads and security product alerts started to make sense to customers, and our partnership with Snowflake, a leader in security data lakes, came to fruition. We hope to build on this market trend, and partnership, in the coming months and years. This is where we are at the time of raising our Series B financing.
With detection & hunting automation covering the bulk of desired threat detection, the next natural step is automating successful investigations and triage of these outcomes. This is where we are focusing a lot of our planning and development now in our journey to continue to be the eyes and ears of security operations. Further, all of these functions need closure – in other words, integration with downstream response systems. Most customers have adopted technologies like ServiceNow for this purpose and we have wisely chosen to partner with their ticketing and case management capabilities. We will continue to build on this over time.
Looking toward the future.
Our platform now resembles an ideal productization of our vision to deliver automation – detection engineering, hunting, triage and response – and modernization – via a security data lake. And customers are signing up to realize this potential within their enterprise SOCs. With our team, platform and funding, I feel we are now optimally positioned to succeed over the next few years, and prepare ourselves for the next phase of our company’s growth.
At the end of the day, it continues to be my belief that being able to execute on what our customer's need is everything – ideas and visions are important but they are only the beginning – nothing matters if we don't listen to those that use our solution and if we don’t execute to perfection. The team we have assembled, and the resulting product we have built, is the reason for our success, not the vision, not the idea, not the PowerPoint presentations, not even the story I sold to our investors in each round of funding! This is how successful companies are built – smart customers helping push the industry forward, who are excited to partner with a strong team that's lived their pain and have the capacity to execute to perfection, tracking to a grand vision. I am proud that Anvilogic is following this success path, and I am excited for our future funded by our Series B financing and our fine investors – Ashu Garg, Noah Carr, Shirish Sathaye, David Dubick, Chris Fisher, Dean Mai, Sid Trivedi, Dan Warmenhoven, Nikesh Arora and Godfrey Sullivan – and our advisors, who believe in our vision and in our ability to execute, and continuously provide fantastic advice, mentorship and support.
A HUGE thanks to our investors, advisors, partners, well-wishers and above all, OUR CUSTOMERS. For full details about the announcement, click here.