US-based cybersecurity technology developer Securonix disclosed yesterday that four corporate venturing units have joined its latest funding round, which is sized at over $1bn.
Capital One Ventures, Snowflake Ventures, Verizon Ventures and Wipro Ventures are all taking part in the round, on behalf of financial services firm Capital One, data software provider Snowflake, telecommunications firm Verizon and IT services firm Wipro respectively.
The round is being led by investment firm Vista Equity Partners and includes financial services and investment group Fidelity’s Eight Roads Ventures unit and growth equity firm Volition Capital. All three were named in the initial announcement of the transaction in February this year.
Founded in 2007, Securonix has built a cloud security software tool that uses behavioural analytics to help users thwart cyber threats. It claims it has grown its software-as-a-service (SaaS) business by more than 100% in the past year.
Stefan Williams, vice-president of corporate development at Snowflake and VP of Snowflake Ventures, said: “We are highly selective in choosing portfolio companies that complement the Snowflake data cloud and define the future of SaaS technology in the enterprise.
“The mutual success we have enjoyed with Securonix and the ‘connected application’ model made adding the company to our investment portfolio a no-brainer. We recognise Securonix as a market leader in cloud-native security analytics and operations and look forward to jointly developing new solutions and expanding [go-to-market] efforts.”
Capital One Ventures had already provided $24m for Securonix in March 2021, a deal which came 13 months after a $12m round featuring undisclosed investors, according to a securities filing. Eight Roads and Volition Capital had participated in the company’s $26m series A round in 2017.
