Arctic Wolf Raises $200million in Funding Round

Enterprise Security Magazine | Tuesday, October 27, 2020

Brian NeSmith, CEO

Arctic Wolf closes $200million in funding round that has increased the company's value at $1.3 billion.

FREMONT, CA: Security operations technology developer, Arctic Wolf,has raised $200million in a funding round that increased its value to $1.3 billion. With the help of the latest round, total funding in Arctic Wolf stands at $348 million.

Arctic Wolf has also revealed that it will move its corporate headquarters from California to Eden Prairie, Minn, to benefit from the skilled workforce in the Minneapolis-St. Paul area.

According to Nick Schneider, the company's Chief Revenue Officer, in a press release, Arctic Wolf is not a typical security organization. The company's principal is how it goes to the market to acknowledge that security has an efficiency issue. The number of security issues is continuously increasing, even though there are several new security tools. Schneider says that it is not a problem of the tools, but it is an operational issue. He further noted that Arctic Wolf offers managed detection and response through its cloud-native Arctic Wolf Platform. The platform centralizes data and telemetry into the organization's cloud-native platform so that it can allow monitoring and provide on-demand access to security professionals continuously. Their delivery model is concierge security that is combined with a cloud-native technology platform. Arctic Wolf works entirely with the help of indirect channel partners.

Schneider mentioned the new round of funding, like the former rounds, contains no strategic investments. It will expand the growth and acquire new channel partners and the latest technology and develop a more substantial international presence. Part of that funding can be utilized for making acquisitions, even though Schneider said there are no deals in mind now. Earlier, Arctic Wolf has made only one acquisition, which the vulnerability assessment startupRootSecure in late 2018. He even said that the organization, for now, is very well capitalized and that the procedure to a potential IPO is possible.