Cybersecurity company Securonix, headquartered in Addison, has raised more than $1 billion in a funding round led by Austin-based Vista Equity Partners.
Volition Capital and Eight Roads Ventures were also involved in the funding round, Securonix said. Vista Equity Partners is an investment technology powerhouse managing more than $86 billion in total assets at the end of September.
Securonix co-founder and CEO Sachin Nayyar explained: “Vista’s proven track record of partnering with next-gen, hypergrowth SaaS (software as a service) companies will advance our mission and allow us to help our customers solve these problems. The capital infusion will help Securonix expand its product engineering, threat detection, data science, and general operations.”
The Cybersecurity SaaS company has grown to employ 1,000 people globally and has seen a 100% increase in annual recurring revenue, Securonix reports. The most recent funding round increases the total capital raised to date by the company to $1.1 billion, according to Crunchbase.
Vista managing director Rod Aliabadi shared, “Securonix has established a mission-critical business that is uniquely qualified and well-positioned to redefine the SIEM (security information and event management) industry. We are excited to partner with their exceptional team as they expand into new markets and continue to innovate with their products and solutions.”
Securonix is joining Vista Equity’s other portfolio companies, including Austin-based fintech platform Klarna, AlertMedia, as well as Dallas-based e-commerce company Kibo. Affiliates of Vista Equity, together with Elliott Management, privatized software company Citrix in a $16.5 billion deal in late January.
Securonix has also recently hired Edward Rhyne, a U.S. Department of Energy and Department of Homeland Security veteran, as its new operational technology business unit manager. Securonix reports that the business unit is focused on providing cyberattack solutions for operational technologies, as opposed to IT technologies like databases to prevent occurrences like the 2021 Colonial Pipeline attack.
Securonix is a provider of multitenant Security Analytics, Operations and Response software that identifies cyber security threats and empowers enterprise clients to react. Its customers include pharmaceutical wholesaler AmerisourceBergen as well as five global Fortune 10 companies.