Swimlane has announced a US$70mn growth funding, which will accelerate the company’s ongoing growth and operations on a global scale while continuing to advance its platform innovations in security automation ahead of the competition.
The round was led by Activate Capital, and existing investors Energy Impact Partners (EIP) and 3Lines Venture Capital also participated in the round. The company also announced that Raj Atluru, Managing Partner at Activate Capital, will join the Swimlane Board of Directors.
“We invested in Swimlane because we believe in the company’s ability to unlock the most valuable product developments customers demand for security automation inside and outside the SOC. Swimlane has transcended traditional SOAR and risen to meet the growing need for low-code security automation to help organisations quantify business value, overcome process and data fatigue, and combat chronic staffing shortages,” said Atluru.
Securing workflows across organisations
As the threat landscape continues to expand and with cyber talent shortages, automation has become an increasingly important technology. Swimlane recently launched Turbine as the solution — a 'breakthrough' in low-code automation that captures hard-to-reach telemetry and expands actionability beyond closed extended detection and response (XDR) ecosystems.
Sameer Reddy, Managing Partner at Energy Impact Partners said, “Security operations today is at a critical inflection point. Organisations don’t have enough people, money, or resources to address all of their security workflows across the entire organisation, while also responding to threats the moment they happen. Automation will have to play a critical role in addressing these challenges and Swimlane is incredibly well-positioned as the leading independent security automation platform.”
Helping partners use automation for cyber security
James Brear, CEO of Swimlane, said: “We are very proud of the global traction and results we have achieved. Besides our hyper revenue growth, we have achieved over 120% of net retention and product expansion. Our cloud product has seen a 5X increase in adoption over 2021 and our growth over the last four years is over 700%. This is a testament to our customer-first mindset and meeting all the use case requirements our customers demand.”
The new investment will also accelerate the growth of Swimlane’s global partner network and create new market opportunities through partners in all major geographies. This will include technical partner support and enablement to help partners unlock the power of automation beyond just threat response.
“Organisations across industries are facing a more sophisticated and targeted threat landscape than ever before,” said John Vanderzon, CTO of Sun Management, which also joined the growth round of investment.
“We invested in Swimlane for its intelligent approach to solving a long-term problem. We see Swimlane as a paradigm shift similar to what we saw with Palo Alto Networks when we ran four of their betas in 2007. We look for technology that solves problems intelligently, and Swimlane's low-code security automation goes above and beyond to give companies the power to stop threats at the point of inception in a rapidly expanding attack surface — without the need to hire more people.”