With what’s likely to be one of the largest local funding rounds of the year, a North Texas tech company is looking to continue its “hypergrowth trajectory.”
Addison-based cybersecurity company Securonix announced landing more than $1 billion in a growth investment deal led by Austin investment firm Vista Equity Partners.
“We solve a very tough problem that requires excellence across multiple domains, including product engineering, threat detection/hunting, data science, and operations,” said Sachin Nayyar, Securonix co-founder and CEO, in a statement. “This funding will help us accelerate investments in these areas and continue to provide a world-class service to our customers.”
Boston growth equity firm Volition Capital and Fidelity International venture capital arm Eight Roads Ventures joined the raise, which will help it scale operations and product innovation.
1,000+ in its global workforce, and growing
The new funding, along with Vista’s expertise in the tech startup space, will help grow Securonix’s workforce. With about 100% year-over-year headcount growth bringing its total employees to more than 1,000 globally, the company is looking to bring on “senior leaders”—particularly in engineering, cloud operations, and sales.
In a December interview with Dallas Business Journal, Securonix Chief Strategy and Marketing Officer Nitin Agale said the cloud-based company could potentially add around 500 new employees over the next year.
100% increase in SaaS annual recurring revenue
The announcement from the security analytics, operations, and response platform comes amid rapid growth. While not disclosing specifics, Securonix said it has seen a 100% increase in SaaS annual recurring revenue. It added that it currently serves five of the Global Fortune 10 companies and has been seeing “record customer demand” amid the pandemic.
The new investment adds to the more than $50 million Securonix has raised since launching in 2007, most recently with a $24 million deal in 2021 with Capital One Ventures, which included a strategic partnership and saw Capital One Partner Jay Emmanuel join its board as an observer.
Earlier this month, the company added Edward Rhyne, a former senior technical advisor to the U.S. Department of Energy and Department of Homeland Security, as the lead of its operational technology business unit.
“Since inception, Securonix has been steadfast in its commitment to develop innovative products that solve the difficult problem of identifying and responding to advanced security threats while meeting the needs of scalability, cloud readiness, and operational efficiency,” said Tanuj Gulati, Securonix CTO and co-founder, in a statement.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.