Arctic Wolf offers a cloud-native security platform that ingests endpoint, cloud and network data to provide a unified view of threats and pairs that software with concierge security teams that tailor responses. The company uses machine learning to validate incidents from more than 2.5 trillion weekly observations, forwarding fewer than five alerts per customer per week on average. Arctic Wolf targets mid-size and enterprise customers and has over 3,000 customers, including more than 100 U.S. state and local government agencies. The company reported $200 million in annual recurring revenue over the prior 12-month period as of last September. Management plans to use recent funding for product development, strategic M&A and global expansion with a particular focus on the Asia‑Pacific region, Australia and New Zealand. Arctic Wolf was co-founded in 2012 and is based in Eden Prairie, Minnesota. Arctic Wolf provides a cloud-native Security Operations Platform paired with its Concierge Security Team to deliver managed detection and response, managed risk, managed cloud monitoring, and managed security awareness. The company emphasizes a proactive, holistic approach to cybersecurity that identifies vulnerabilities, risky configurations, and user behaviors and remediates issues before exploitation. Arctic Wolf reports rapid scale: approximately 3,000 customers, 100% year-over-year ARR growth for each of the last seven years, and 438% year-over-year ARR growth in large enterprise customers. The platform processes about 1.2 trillion security events per week and has nearly 60% of customers using three or more Security Operations solutions. Arctic Wolf has expanded channel reach with 650 global partners and over 40,000 trained sellers, and has grown headcount substantially—onboarding roughly 400 employees in the last 12 months with plans to add 500 more roles. Recent product and go-to-market moves include launching a Managed Security Awareness solution, restructuring its partner program, introducing Service Assurance, and expanding into EMEA. The company says it will continue accelerating market momentum and bring new products and innovations to build world-class Security Operations globally. Arctic Wolf uses the cloud-native Arctic Wolf Platform to provide security operations as a concierge service, pairing platform intelligence with Concierge Security experts who act as extensions of customers' internal teams. Its primary offering, Arctic Wolf Managed Detection and Response (MDR), provides 24x7 monitoring, detection, response, and ongoing risk management. The company reported strong operating momentum, including 106% growth in subscription revenue, 180% growth in enterprise customers, 301% growth in customers using multiple solutions, 282% growth in channel partners, and 270% growth in security events processed (now approaching 1 trillion per week). Arctic Wolf says the new funding will accelerate the introduction of new security operations offerings and help it address new markets. The company also highlights its position as the first cloud-native MDR vendor to secure a valuation above $1 billion. Arctic Wolf is relocating its global headquarters from California to Eden Prairie, Minnesota and plans investments in the new HQ and expansion of its security operations centers. Arctic Wolf provides a security operations center (SOC)-as-a-service offering that delivers Managed Detection and Response (MDR) and Managed Risk services anchored by its Concierge Security Team. Its cloud-based SOC provides 24x7 monitoring, custom threat hunting, alerting, reporting, risk management, and incident response as an extension of customers' internal teams. The company emphasizes predictable pricing and dedicated security analysts to bring enterprise-grade security to organizations that lack internal SOC capabilities. Arctic Wolf reported its customer base grew over 130% in 2019 and has achieved 4300% revenue growth over the prior four years. It has doubled its security team to more than 400 employees across four North American offices. The company plans to use new funding to introduce new service offerings, enter new markets, and further cement its leadership in the Managed Detection and Response market. Arctic Wolf Networks provides SOC-as-a-service (AWN CyberSOC) that delivers 24×7 monitoring, custom alerting, incident investigation and response via Concierge Security engineers and a proprietary cloud-based SIEM. The turnkey service leverages Hybrid AI and threat intelligence subscriptions, requires no hardware or software purchase, and aims to reduce false positives and improve detection. Founded in 2012 and headquartered in Sunnyvale, Calif., Arctic Wolf has expanded to four North American offices and recently opened a Minneapolis location. The company has more than doubled staff in the last year to 166 employees and reports a 219% year-over-year customer growth rate. Arctic Wolf will use the new funding to accelerate company growth, expand its service offering and scale to meet individualized customer needs. Management specifically plans to build out internal vulnerability assessment and endpoint detection and response capabilities. Financially, Arctic Wolf raised $45 million in Series C funding and has now raised $91.2 million to date.

Total raised

$872M

Funding rounds

6

Latest round

Convertible Note

Latest activity

Oct 2022