Panther Labs plans to use the funds to accelerate product development. Here are the top-line bullets you need to know.
Panther Labs, a security information & event management (SIEM) platform, has raised $120M in a Series B round that drew participation from Coatue Management, ICONIQ Growth, and Innovation Endeavors, among others.
How’s the company performing?
- California-based Panther Labs utilizes real-time security analytics to provide threat detection and incident response services.
- The company’s customers include Snyk, Zapier, Snowflake, and Dropbox.
- Panther’s customer base has grown 300% over the past year — and its headcount has increased by 4 times.
Source: Panther Labs
Why does the market matter?
- The global security information and event management market is expected to reach a value of $5.5B by 2025, growing at a CAGR of 5.5%, according to Markets and Markets.
- The demand for cloud security services has increased amid the rising frequency and severity of cyberattacks.