Arctic Wolf, a cybersecurity firm that’s raised a whole bunch of hundreds of thousands of {dollars} in debt and fairness, immediately introduced that it plans to amass Revelstoke, an organization growing a safety orchestration, automation and response (SOAR) platform, for an undisclosed quantity.
In a weblog submit, Arctic Wolf chief product officer Dan Schiappa mentioned that the acquisition would allow Arctic Wolf’s platform to each detect and reply to cybersecurity assaults “quicker” and extra “comprehensively” than earlier than. Arctic Wolf’s flagship software program ingests knowledge from an organization’s endpoints, cloud environments and networks to supply a unified view of potential threats, and Schiappa sees Revelstoke’s choices as complementary to this.
“We’re advancing our detection and response capabilities with tailor-made response actions at scale, whereas our prospects will instantly reap the advantages of the expertise with out having to buy new modules,” Schiappa wrote on Arctic Wolf’s weblog. “By incorporating Revelstoke’s platform … into [Arctic Wolf[], Arctic Wolf shall be now capable of present prospects with the superior expertise and deep safety operations experience wanted to make SOAR outcomes primarily turnkey.”
It wasn’t instantly clear whether or not a portion — or all — of Revelstoke’s staff would be a part of Arctic Wolf. We’ve reached out to an Arctic Wolf spokesperson for clarification.
Revelstoke, based in 2020 and primarily based in San Jose, California, hosted a platform that would automate a spread of safety processes with pre-built integrations and a library of response playbooks. The platform featured a drag-and-drop playbook builder that allow prospects configure their very own workflows with minimal code, plus a reporting functionality that tried to quantify the enterprise influence of a safety staff’s work.
Revelstoke additionally maintained what it referred to as a “unified knowledge layer,” which allowed it to attach numerous IT and cybersecurity apps and applied sciences collectively for automation and orchestration functions. And it built-in AI and enormous language fashions a la OpenAI’s ChatGPT into its core platform, which streamlined the method of constructing response playbooks (at the very least in idea).
Previous to the Arctic Wolf acquisition, Revelstoke had raised $38 million from buyers together with SYN Ventures, ClearSky Safety, Rally Ventures and Crosslink Capital.
“Safety operations is the following market-changing class with Arctic Wolf main the cost in delivering an industry-defining cybersecurity platform for companies of each dimension,” Bob Kruse, Revelstok’s co-founder and CEO, mentioned in a canned assertion. “The cutting-edge SOAR expertise we’ve constructed at Revelstoke is the perfect complement to the Arctic Wolf portfolio and we’re excited to hitch the Arctic Wolf staff in its mission to finish cyber danger and see how our platform makes a distinction for 1000’s of shoppers worldwide.”
For Minnesota-based Arctic Wolf, based in 2012, Revelstoke is the corporate’s third acquisition following its buy of RootSecure, a cybersecurity vulnerability evaluation toolkit, and Tetra Protection, a ransomware stress check vendor. Arctic Wolf, which has over 2,000 staff, was reportedly final valued at $4.3 billion, and made Deloitte’s checklist of the fastest-growing 500 firms in 2019 and 2020.
Final yr, Arctic Wolf’s CEO Nick Schneider was quoted within the press saying that the corporate deliberate for an IPO someday in 2022. However he later walked again these feedback because the panorama for IPOs — and the broader cybersecurity {industry} — entered shakier territory.
Arctic Wolf is from all appearances ready of energy, nevertheless, with $499 million in enterprise capital, over 3,000 prospects worldwide and an estimated over $200 million in annual recurring income. When the corporate raised $401 million in debt final October, Schneider mentioned a portion could be put towards mergers and acquisitions — and immediately, he made good on that promise.
