D3Security raises $19M in financing led by Vistara Growth
The company plans to use the funds for product development and to expand sales and marketing capabilities to expand globally.
A few weeks ago Vistara Capital Partners changed its name to Vistara Growth. It’s wasted no time in taking action to live up to its new name. Today, D3 Security, which develops security orchestration, automation and response (SOAR) tech, secured a growth equity investment of $12.6 million from Vistara Growth, as well as a $6.3 million credit facility from a major financial institution, bringing its total amount of announced funding to just under $19 million.
"This investment from Vistara will supercharge our ability to reach the thousands of enterprises, MSSPs, and MDR providers around the world who need a solution like ours,” said Gordon Benoit, D3 Security president.
Details: D3’s SOAR platform helps many of the world’s most sophisticated security teams integrate their security tools, eliminate time-consuming tasks via automation, and orchestrate lightning-fast responses to threats.
The investment from Vistara will enable D3 to continue to innovate through product development, scale to support its rapidly growing base of clients and partners, and expand sales and marketing efforts to capture the global demand for SOAR.
Money talks: “We believe that as the benefits of SOAR gain wider recognition with increasingly security-conscious enterprises, the market is growing fast and D3’s platform is at the forefront,” said John O’Donoghue, Vistara Growth’s investment director. “They are an ambitious technology company with a world-class product, and we look forward to supporting them as they reach their full potential.”
O’Donoghue as well as Vistara Growth founder and managing partner Randy Garg will join D3 Security’s board as part of the investment.
Zoom out: In line with the digital transformation of all facets of life, security automation tools have exploded in recent years. Indeed, a SANS survey found a nearly 25% increase in the number of organizations with a high amount of security automation. The team at D3 believes it's uniquely positioned to help solve the challenges that are leading so many companies to acquire automation tools.
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