Vectra AI, a US-based cybersecurity technology developer backed by corporate investors Intel, Juniper Networks, Nissho Electronics and Wipro, received $130m yesterday in a round led by investment firm Blackstone Growth.
The round also featured undisclosed existing investors and the funding was secured at a $1.2bn post-money valuation.
Founded in 2011, Vectra has built an artificial intelligence-equipped enterprise software tool which helps organisations to identify and respond to cyberthreats on cloud platforms, data centres, IT and internet-of-things systems. It will use the money to improve its software and expand globally.
The company said it has raised more than $330m in overall funding, having secured $100m in a mid-2019 round led by TCV and backed by unnamed returning investors reportedly including Accel and Khosla Ventures.
Vectra had closed a $36m series D round in 2018 led by Atlantic Bridge that included IT services groups Nissho and Wipro, the latter through its Wipro Ventures subsidiary, as well as Ireland Strategic Investment Fund, Khosla Ventures, Accel, IA Ventures, AME Cloud Ventures and DAG Ventures.
The last five had taken part in a $35m round for the company in 2015, investing alongside networking equipment producer Juniper Networks and Intel Capital, the investment arm of chipmaker Intel, before Wipro Ventures added a $43.8m extension the following year.
Accel had previously led a $25m series C round for Vectra in 2014 that also featured Intel Capital, Juniper Networks’ Junos Innovation Fund, IA Ventures, Khosla Ventures and AME Cloud Ventures.
Hitesh Sheth, president and chief executive of Vectra, said: “Over the past year, we have witnessed a continuous series of the most impactful and widespread cyberattacks in history.
“To protect their employees and digital assets, our customers require security solutions that are smarter than today’s adversaries and provide coverage for cloud, datacentres and [software-as-a-service] applications.”
