Arctic Wolf, a cybersecurity firm that’s raised tons of of tens of millions of {dollars} in debt and fairness, at the moment introduced that it plans to accumulate Revelstoke, an organization creating a security orchestration, automation and response (SOAR) platform, for an undisclosed quantity.
In a weblog put up, Arctic Wolf chief product officer Dan Schiappa stated that the acquisition would allow Arctic Wolf’s platform to each detect and reply to cybersecurity assaults “sooner” and extra “comprehensively” than earlier than. Arctic Wolf’s flagship software program ingests knowledge from an organization’s endpoints, cloud environments and networks to offer a unified view of potential threats, and Schiappa sees Revelstoke’s choices as complementary to this.
“We’re advancing our detection and response capabilities with tailor-made response actions at scale, whereas our prospects will immediately reap the advantages of the know-how with out having to buy new modules,” Schiappa wrote on Arctic Wolf’s weblog. “By incorporating Revelstoke’s platform … into [Arctic Wolf[], Arctic Wolf shall be now in a position to present prospects with the superior know-how and deep security operations experience wanted to make SOAR outcomes basically turnkey.”
It wasn’t instantly clear whether or not a portion — or all — of Revelstoke’s workforce would be a part of Arctic Wolf. An Arctic Wolf spokesperson later advised information.killnetswitch that 30 folks from Revelstoke will be a part of Arctic Wolf and that Bob Kruse, Revelstoke’s co-founder and CEO, will transition into Arctic Wolf’s product-line gross sales workforce.
Revelstoke, based in 2020 and primarily based in San Jose, California, hosted a platform that would automate a spread of security processes with pre-built integrations and a library of response playbooks. The platform featured a drag-and-drop playbook builder that allow prospects configure their very own workflows with minimal code, plus a reporting functionality that tried to quantify the enterprise affect of a security workforce’s work.
Revelstoke additionally maintained what it known as a “unified knowledge layer,” which allowed it to attach numerous IT and cybersecurity apps and applied sciences collectively for automation and orchestration functions. And it built-in AI and huge language fashions à la OpenAI’s ChatGPT into its core platform, which streamlined the method of constructing response playbooks (at the least in idea).
Previous to the Arctic Wolf acquisition, Revelstoke had raised $38 million from traders, together with SYN Ventures, ClearSky Safety, Rally Ventures and Crosslink Capital.
“Safety operations is the following market-changing class with Arctic Wolf main the cost in delivering an industry-defining cybersecurity platform for companies of each dimension,” Kruse stated in a canned assertion. “The cutting-edge SOAR know-how we’ve constructed at Revelstoke is the best complement to the Arctic Wolf portfolio and we’re excited to affix the Arctic Wolf workforce in its mission to finish cyber threat and see how our platform makes a distinction for hundreds of shoppers worldwide.”
For Minnesota-based Arctic Wolf, based in 2012, Revelstoke is the corporate’s third acquisition following its buy of RootSecure, a cybersecurity vulnerability evaluation toolkit, and Tetra Protection, a ransomware stress take a look at vendor. Arctic Wolf, which has over 2,000 staff, was reportedly final valued at $4.3 billion, and made Deloitte’s listing of the fastest-growing 500 corporations in 2019 and 2020.
Arctic Wolf is from all appearances able of power, nevertheless, with $499 million in enterprise capital, over 3,000 prospects worldwide and an estimated over $200 million in annual recurring income. When the corporate raised $401 million in debt final October, Schneider stated a portion could be put towards mergers and acquisitions — and at the moment, he made good on that promise.
