Hunters Raises $30 Million in Funding Round to Lead the Open Extended Detection and Response (XDR) Market

Hunters Raises $30 Million in Funding Round to Lead the Open Extended Detection and Response (XDR) Market

Hunters has raised $30 million in a Series B round led by Bessemer Venture Partners, with current investors YL Ventures, Blumberg Capital, Microsoft’s Venture Fund M12, and US Venture Partners also participating (USVP). The entire investment now stands at $50.4 million. Okta Ventures and Snowflake were strategic investors in the prior round of funding.

“Hunters’ customer engagements are accelerating with Fortune 1000 Companies adopting XDR to be at the heart of their security operations. Traditional security tools like SIEM have not fulfilled the need to clearly and rapidly identify and investigate threats at the scale of cloud data, leaving a crucial gap in supporting security analysts. Open XDR offers a new technology approach with a turn-key solution that stitches security events from across the entire security stack into contextualized and prioritized incidents. This maximizes the value security teams are getting from their current stack and enables them to see real incidents and rapidly respond,” said Uri May, CEO and co-founder of Hunters.

Hunters XDR is chosen by companies facing complex security threats because of its proven ability to speed up threat detection, investigation, and incident response. Known brands from the financial services, technology, retail, manufacturing, and media industries are among them.

“At NETGEAR, we support a complex IT environment. To keep pace with our rapidly growing business and the evolving threat landscape, we switched from a SIEM to Hunters XDR. Hunters now serves as our core SOC (Security Operations Center) platform. It enabled us to shift from manual to automated incident investigation and focus on incident resolution instead of tool management and IT complexity,” said Mihir Shah, Vice President of Information Technology at NETGEAR, one of the world’s leading network solution manufacturers, with offices in 25 countries.

”Hunters represents the future of security architectures, leveraging the performance and cost advantages of cloud data warehouses and Open XDR technology to deliver detection and response capabilities that were not historically possible on-premise. Hunters’ unique ability to identify low-fidelity signals of an attack that are traditionally missed and automatically stitch them together into a contextual attack story is a game-changer that helps organizations better address their cybersecurity risk, specifically for companies undergoing rapid cloud expansion and business growth,” said Alex Ferrara, Partner at Bessemer Venture Partners.

Ofer Schreiber, Partner at YL Ventures, that co-led Hunters’ seed round alongside Blumberg Capital said, “Today’s security operations have to support mixed multi-cloud and on-prem environments, as well as handle security data at cloud-scale. Its breakthrough technology and recent growth positions Hunters to disrupt the $4.3 billion SIEM market that’s predominantly built on pre-cloud technologies.”  

“Hunters’ innovation stems from its focus on SOC analysts which is especially critical in light of the shortage in security talent. Unlike other tools, the platform was purpose-built to offload non-mission-critical tasks, automate detection and investigation, and provide SOC analysts with a clear understanding of every detected security incident, helping achieve faster resolution,” said Yodfat Harel Buchris, Managing Director at Blumberg Capital, who co-led Hunters’ Seed round.

“This investment takes us one step closer to building a pillar security company, becoming the centerpiece of the future SOC of the world’s leading organizations. The investment will be used to further drive innovation, enhance our customer satisfaction, increase our market reach, support partner expansion and hire exceptional talent,” said May.