Vectra AI, a leader in threat detection and response today announced a $130 million round of funding led by funds managed by Blackstone Growth. The investment will help fuel Vectra’s continued growth through platform innovation and expansion into new markets and geographies, solidifying its Cognito platform as a market-leading solution for artificial intelligence (AI)-driven cloud security for threat detection and response. Existing investors also participated in the funding round, increasing the company’s total funding to more than $350 million at a post-money $1.2 billion valuation.

As recent high-profile incidents impacting SolarWinds and Microsoft Exchange (Hafnium) illustrate, breaches are becoming commonplace and hard to detect because state actors and cybercriminals use multi-stage attacks that exploit supply chain weaknesses, legitimate tools, and impersonate users to steal data. As the threat landscape continues to become more complex, security leaders must commit themselves to enhancing research and development, innovation, and strategic implementation of resource-relieving technology, such as AI. This product innovation is necessary to provide the contextual awareness security teams need to combat the expanding attack surface, created by the increased use of cloud resources and SaaS applications, mobile devices, work-from-home access and the Internet of Things (IoT).

Read More

Source: Street Insider

By Business Wire