Addison Tech Firm Securonix Raises Nearly $12M in New Funding

Securonix, an Addison-based technology provider of cybersecurity and threat detection tools, has raised $11.9 million, according to a new filing with the Security and Exchange Commission. The company’s “next-gen” security analytics platform is designed to predict, detect, and respond to advanced cyber threats.

The new funding brings Securonix’s total funding to more than $40 million. In 2017, we told you about the startup’s $29 million Series A raise and its integration partnership with California-based Demisto. Securonix used the funding to invest in technology innovation, and expand in domestic and global markets. That funding round was led by Volition Capital, and Eight Roads Ventures also participated.

Securonix reported that its new funding was raised in mid-December, according to the filing.

An Evolution in SIEM

According to the company, early security information and event management (SIEM) solutions have serious drawbacks. Securonix, which was founded in 2008 and led by CEO Sachin Nayyar, is “redefining the next generation of security monitoring using the power of machine learning and big data,” the company said in a release.

The company’s single-platform solution was “built in the cloud, for the cloud.” Customers can use the platform to address insider threats, cyber threats, cloud security, fraud, and application security monitoring requirements.

In 2018, the company launched the Securonix Threat Research (STR) Labs to monitor the cybersecurity threat landscape—extremely dynamic threat sources, DGA, internal and external threat intelligence sources, fraudulent transactions, malicious actors, dark web, more. It also collects ongoing research developed by Securonix security experts and shares information with the broader cybersecurity community, Securonix said.

The STR team works closely with Securonix’s data science team. That collaboration “ensures that research results become actionable in the form of behaviors, artifacts, and forensic search queries that SOC analysts can quickly use in their own environments to stay ahead of the threats,” the company said. Securonix aims to ensure customers stay protected “by having the necessary Securonix threat models and automated mitigation actions as soon as the threat is investigated.”

Last year, Securonix achieved Amazon Web Services (AWS) Security Competency status for its cloud SIEM solution. That competency designation recognizes that Securonix demonstrated technical proficiency and proven customer success in delivering security information and event management as a service on the AWS platform.

Achieving AWS Security Competency differentiates Securonix as an AWS Partner Network (APN) member that offers specialized software designed to help organizations adopt, develop, and deploy complex security projects on AWS. To receive the designation, APN partners must possess deep AWS expertise and deliver solutions seamlessly on AWS.