Swimlane plans to use the funds to fuel global expansion. Here are the top-line bullets you need to know.
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.
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.