Cyber security firm Stellar Cyber recently received $38 million in a new funding round, which will be used to offer greater visibility for its Open XDR security platform.
The Series B round was led by Highland Capital Partners, while receiving additional support from current investors including Northern Light Venture Capital, SIG, and Valley Capital Partners. Stellar Cyber also gained support from tech leader Samsung as a strategic investor.
As ransomware, malware, and viruses continue to plague digital business activity, leaders are actively searching for automated security solutions to catch threats before they sink their teeth.
“Today’s complex attacks are virtually impossible to rapidly detect with the traditional approach of using siloed, standalone tools, and our customers are tired of spending a fortune on tool collections that fail to cut off attacks,” said Changming Liu, CEO and co-founder of Stellar Cyber.
Recognizing the devastating consequences of such attacks, Stellar Cyber created the Open XDR platform, which provides customers with a unified stack of security solutions to offer complete protection against the most common cyber threats. The latest investment round will support Stellar Cyber’s efforts to expand its partner community, increase market awareness of Open XDR, and provide customers complete oversight of data across networks, applications, and other frequently used digital resources.
“We joined a $38 million Series B funding round for Stellar Cyber because the company has demonstrated its leadership in the XDR market, and its growth potential,” commented Caroline Rehfuss, an investor at Samsung Next. “Stellar Cyber’s Open XDR solution stands out with the most comprehensive in-house security modules at both frontend and backend, offering better integration and more effective incident correlation at a lower cost. The product has natural synergy with endpoint security solutions like Samsung Knox.”
Want to learn more about how managed services are transforming the modern business landscape? Join MSP EXPO from Feb 8-11, 2022 in Fort Lauderdale, Florida to gain insights from leading experts within the MSP space. The MSP Expo educational programming will include a special MSP Cybersecurity track to help MSPs capitalize on the demand for security services.
Edited by
Erik Linask
