Swimlane, a provider of security orchestration, automation, and response (SOAR) software, raises $70M. Swimlane competitors are Siemplify, Tines, and Palo Alto Networks.

Swimlane, a security orchestration, automation, and response (SOAR) software provider, has raised $70M in a Series D. The round drew participation from 3Lines, Activate Capital, and Energy Impact Partners.

HOW’S THE COMPANY PERFORMING?

• Colorado-based Swimlane helps organizations automate their cybersecurity processes.
• Its cloud product saw adoption increase by 5x in 2021.
• The company has experienced more than 700% growth over the past 4 years.
• Its clients include organizations like Sony, Toshiba, Lumen, and Sagicor.

Source: Swimlane

WHY DOES THE MARKET MATTER?

• The global security orchestration, automation, and response market is expected to reach a value of $2B by 2025, growing at a CAGR of 14.6%, according to Market Research Future.
• The development of OT, IT, blockchain, and cloud technologies has contributed to market growth.
• The rising frequency and severity of cyberattacks and the global developer shortage have increased the demand for SOAR solutions.

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