Red Canary offers SaaS threat-detection and security operations solutions that combine technology, process, and a remotely delivered 24/7 security operations center to detect and respond to threats across endpoints, network alerts, and cloud workloads. The company provides turnkey detection plus a security operations team response to help organizations that lack or want to augment internal security staff. In 2020 Red Canary expanded its product portfolio with Red Canary Alert Center and Red Canary Cloud Workload Protection to extend coverage across the entire environment. The business reported strong operating momentum including 270% revenue growth over the prior two years, 100% growth in customers from channel partners in 2020, and a 100% increase in threats detected by its platform in 2020. Red Canary also said it grew its sales and customer success teams by 100% in 2020 and achieved an NPS of 70. The company plans to continue investing in R&D and platform expansion and to grow its sales and marketing teams to accelerate customer growth and reach. Red Canary provides a cloud-based managed detection and response (MDR) platform that integrates MDR with security orchestration, automation and response (SOAR). Its proprietary software ingests and analyzes over 500 terabytes of telemetry per day and applies behavioral analytics to surface potential threats to an in-house team of expert security analysts. The company defends hundreds of organizations worldwide, from global Fortune 100s to 100-employee organizations. Red Canary's solution combines MDR and SOAR capabilities to measurably decrease the time required to resolve threats. The company intends to use the funds to scale its team and accelerate delivery of outcome-focused security operations solutions. Red Canary provides a Managed Detection and Response (MDR) solution that continuously analyzes activity from every endpoint and hunts for patterns associated with cyber threats. The company combines detection technology, event management, investigative tooling, and analyst triage so that every detection is investigated by a Red Canary analyst before customers are notified. Red Canary was built to serve organizations of all sizes—from 50 to 50,000 employees—and currently protects more than 100 organizations worldwide, with concentrations in financial services, healthcare, technology, and defense contracting. Founded in 2013 and headquartered in Denver, the company emphasizes solving customers’ technology, process, and expertise gaps rather than selling single-point security products. Red Canary recently won Red Herring Top 100 North America. The company says it will use new funding to accelerate its vision that every organization can detect and respond to cyber attacks and to advance its technology, processes, and expertise. Red Canary delivers a managed endpoint threat detection and response platform that combines best-in-class sensors (including Bit9 + Carbon Black), third-party threat intelligence (Farsight Security, Threat Recon), and proprietary behavioral, binary and analytics technologies. The service continuously streams endpoint activity to a Threat Detection Engine for near-real-time analysis, then escalates potential threats to human analysts who confirm detections and remove false positives. Red Canary integrates detections into customer response workflows via email, syslog, webhooks, SIEM connectors and a RESTful API. The company says its platform assesses hundreds of thousands of events every minute and is designed to protect deployments ranging from hundreds to hundreds of thousands of endpoints. Red Canary is actively evaluating additional analytics and binary-analysis partners and plans to announce new partnerships in the coming months. The company recently closed seed funding to accelerate commercialization of the managed service.

Total raised

$124M

Funding rounds

4

Latest round

Series C

Latest activity

Feb 2021