Hunters Raises $68M Series C for Security Operations Platform

Hunters Secures $68 Million in Series C Funding

Hunters, a cybersecurity firm, has announced the successful completion of a $68 million Series C funding round. The investment was spearheaded by Stripes, with participation from new investors including DTCP, Cisco Investments, and Databricks.

Existing investors – YL Ventures, Bessemer Venture Partners, Microsoft’s M12 fund, U.S. Venture Partners, Blumberg Capital, and Snowflake Ventures – also contributed to this financing round.

Total Funding Reaches $118 Million

This latest investment elevates Hunters’ total funding to $118 million. This figure incorporates the $30 million Series B round secured in August of the previous year.

Focus on SIEM Replacement

According to Uri May, co-founder and CEO of Hunters, the company has strategically focused on assisting enterprises in transitioning away from traditional Security and Information Event Management (SIEM) solutions. They are offering their own advanced tools as alternatives.

May stated that the team demonstrated the necessary resolve to tackle complex projects, specifically those involving the replacement of existing SIEM systems.

Significant Revenue Growth

The company’s confidence in this approach has grown considerably, resulting in substantial success. Hunters experienced a remarkable 5x increase in revenue throughout 2021.

A Wave of Enterprise Replacements

May believes that a significant shift is occurring within the enterprise security landscape, creating an opportune moment for Hunters. Many security operations centers are realizing their current infrastructure is inadequate.

This realization stems from challenges related to threat sophistication, a lack of skilled personnel, the sheer volume of data, and the proliferation of security products.

Addressing Urgent Market Needs

The urgency within the market is driving investor interest in companies like Hunters. The funding will enable Hunters to capitalize on this opportunity before it diminishes.

The presence of strategic investors, such as Databricks and Cisco Ventures, alongside Snowflake Ventures, underscores this point.

Strategic Partnerships and Sales Motion

Hunters intends to replicate the success of its partnership with Snowflake, specifically with Databricks, by establishing a similar sales strategy.

Snowflake's Perspective

Stefan Williams, Head of Corporate Development at Snowflake, highlighted Hunters’ cloud-native architecture and automation capabilities. These features empower security teams to effectively utilize the security data lake model.

Williams emphasized that Hunters, as a Powered By Snowflake partner, exemplifies how investments in top-tier solutions built on Snowflake enhance data mobilization and contribute to the robust network effects of the Snowflake Data Cloud.