US-based cybersecurity technology developer Demisto completed a $20m series B round that included Slack Fund, the strategic investment unit set up by messaging platform Slack.
The round also featured venture capital firms ClearSky and Accel. Jay Leek, ClearSky’s recently hired managing director, will join Demisto’s board in conjunction with its investment.
Demisto has created a tool that uses a chatbot to help cybersecurity operations centres respond to incidents more efficiently and effectively by encouraging communication and collaboration. The series B capital will be put toward product development and rollouts as well as sales and marketing.
Slavik Markovich, Demisto’s chief executive, said: “Demisto was built to make security analysts’ lives easier with its combined incident response case management and security orchestration platform, which is unrivalled in the industry.
“This new funding is a testament to the tremendous and unbelievably fast growth we have already experienced, in less than a year since we first launched our product.
Demisto has now raised $26m since it was founded, with Accel leading the $6m series A round the company announced when it emerged from stealth in May 2016. Angel investors Stuart McClure, Kevin Mahaffey and Mike Fey also contributed to the series A.