SenseOn raises $20 millon Series A to scale its AI cybersecurity platform
We're excited for Dave and the SenseOn team today as they announce further funding to support its next phase of growth, bringing veteran software leader, Jeremy Duggan, to its board as well. MMC has doubled down on our Seed investment alongside Eight Roads Ventures, Crane Ventures and Winton Ventures.
This fundraise comes at a time when hacks and breaches are proliferating - with the total number of records compromised in 2020 exceeding 37 billion, a 141% increase compared to 2019 - and the rise in ransomware means attacks on even the smallest companies can be readily monetised. Despite many new cybersecurity tools coming to market, malicious actors still remain undetected because these disparate tools individually protect only specific parts of an organisation’s digital estate and are unable to connect the dots.
Founded in 2017 by David Atkinson, the first cyber specialist in the United Kingdom’s specialist military units, SenseOn brings together cyber security experts, former government cyber operatives and applied machine learning specialists. SenseOn is on a mission to deliver the security architecture for the future, making the digital world safer without fear of ransomware, extortion, data theft and advanced threats.
SenseOn improves cyber team productivity with more effective and faster investigations, and it also reduces costs for its clients by consolidating point solutions and deploying 15x faster. SenseOn combines broad detection and response capabilities across traditionally siloed security domains with AI-based automation and an open security data cloud. Its unified platform proactively detects and shuts down threats including ransomware, hacking / data theft and malicious insiders, solving critical security challenges in a rapidly evolving IT landscape. It’s also uniquely suited to hybrid and remote work settings as it can be rapidly deployed across any endpoint or network inside and outside the traditional perimeter. This latest funding comes follows a year in which the company grew by more than 350%.
“We are facing a new reality whereby attackers are advancing more quickly than legacy approaches can keep up with, but hybrid and multi-cloud environments are far more complex than we yet know how to defend. Added to this, the volume and speed of data is beyond what legacy architecture was ever designed to handle. The daily headlines show legacy approaches don’t work and if we don’t do something courageous now as a security community or we aren’t going to stand a chance in the future.”David Atkinson, Founder & CEO, SenseOn
You can read more on the funding news via TechCrunch.
Or read Mina Samaan's piece on why MMC was excited by the business in the first place: 'The Future of AI in Cyber Security: Why we invested in SenseOn'.