D3 Security, the leader in next-generation security orchestration, automation and response (SOAR), today announced it had received a growth equity investment of $10 million USD from Vistara Growth, a provider of flexible growth capital solutions to technology companies across North America. The $10M USD will be augmented by a $5M credit facility from a major financial institution, raising the total funding to $15M.
D3’s cutting edge SOAR platform helps many of the world’s most sophisticated security teams integrate their security tools, eliminate time-consuming tasks via automation, and orchestrate lightning-fast responses to threats. The investment from Vistara will enable D3 to continue to innovate through product development, scale to support its rapidly growing base of clients and partners, and greatly expand sales and marketing efforts to capture the global demand for SOAR.
Also Read: Addressing Cloud Security Risks Often Overlooked by Enterprises
“We’ve always been confident that we have the most powerful, agile, and easy-to-use SOAR platform on the market,” said Gordon Benoit, D3 Security President. “This investment from Vistara will supercharge our ability to reach the thousands of enterprises, MSSPs, and MDR providers around the world who need a solution like ours.”
“We believe that as the benefits of SOAR gain wider recognition with increasingly security-conscious enterprises, the market is growing fast and D3’s platform is at the forefront,” said John O’Donoghue, Vistara Growth Investment Director. “They are an ambitious technology company with a world-class product, and we look forward to supporting them as they reach their full potential.”
Both O’Donoghue and Vistara Growth Founder and Managing Partner Randy Garg will join D3 Security’s board as part of the investment.
The prevalence of security automation has exploded in recent years, a trend that appears to have been accelerated by the COVID-19 pandemic, as companies adapt to remote workforces and a growing attack surface. A recent SANS survey found a 24.9% year-over-year increase in the number of organizations with a high amount of security automation. D3 is uniquely positioned to help solve the challenges that are leading so many companies to acquire automation tools. As the leading independent SOAR vendor, D3 integrates with virtually any security tool, bringing automation to the entire stack, enabling the use of best of breed solutions, and maximizing the value of existing security investments.
The investment coincides with D3’s imminent release of XGEN SOAR, a massive leap forward for its flagship SOAR platform. In a market full of complex products that require expert coders to run and maintain them, XGEN SOAR is designed for ease of use, with intuitive configuration, testing, and operation. Its codeless playbooks allow users to seamlessly drag and drop complex automated sequences and product integrations into workflows.
For more such updates follow us on Google News ITsecuritywire News.
