Security automation startup Phantom raises $13.5M Series B
Jan 11, 2017
10 January 20171 MIN READ
Community-powered security automation and orchestration startup Phantom Cyber Corp. has raised $13.5 million Series B funding in a round led by Kleiner Perkins Caufield & Byers that included TechOperators Venture Capital, Blackstone, Foundation Capital, In-Q-Tel, Rein Capital, Zach Nelson and John W. Thompson. Founded in 2014, Phantom aims to close the security gap by enabling Enterprise Security Operations to be “smarter, faster and stronger.”
The company’s platform integrates into existing security technologies in order to provide a layer of “connective tissue” between them, streamlining security operations through the executions of digital “playbooks” that are claimed to achieve in seconds what may usually take anywhere from minutes to hours to deliver using various other products. In a way, Phontom’s Cyber platform acts as an “operating system” for managing other security products. “Security teams are suffocating from the growing volume and velocity of security alerts,” Kleiner Perkins General Partner Ted Schlein said in a statement . “Lack of integration between point products and a shortage of skilled security professionals only exacerbates the problem and makes it all but impossible to respond. Most enterprises are looking at security automation and orchestration to address these challenges. Phantom’s open and extensible platform is the clear leader in this emerging market.”
Phantom now offers over 100 apps which are used to integrate point products that enterprises use in their security environment, including support from companies ranging from Cisco, McAfee, Palo Alto Networks, RSA Security, Symantec, Splunk, HPE, IBM, and dozens of others from firms in the space covering reputation services, endpoint technologies, sandboxes, firewalls, and common mobile, virtual and cloud-based security solutions. Those apps allows Phantom customers automate nearly all security use cases including investigation, hunting, enrichment, containment, resilient regeneration, patch & vulnerability management and others. Including the new round, Phantom has raised $22.7 million to date. The company said it would use the new funding to accelerate growth in sales, marketing, and engineering. Image credit: Phantom.