Arctic wolf mwo4/6/2023 ![]() ![]() SentinelOne made its market debut in June and, at closing, had a market capitalization of more than $10 billion making it the highest-valued cybersecurity IPO ever. Plus, it’s not a bad time to be a cybersecurity startup eyeing an IPO. This will ensure leadership stability in the time leading up to and moving the company forward after the IPO, he explained. The CEO transition largely centers around Arctic Wolf’s planned public debut, which is “probably a year out, give or take a quarter,” Schneider said. Will Arctic Wolf Follow SentinelOne’s Footsteps? is just as robust as what we’re seeing in EMEA if not more favorable for us.” This is because there are fewer competitors in the security and risk management market, “so we’ve seen tremendous uptake in a very short amount of time in those new regions,” he added.Īs it expands, the company has also grown its headcount to just under 1,000 employees. “We’ve seen the resonance that we have in the U.S. “And then, we’ll continue to expand into Asia-Pacific and Latin America,” Schneider said. and plans to open a European security operations center in Germany later this year. To date, most of its growth has come from North American companies, but it recently expanded into the Europe, Middle East, and Africa (EMEA) region with a European headquarters in the U.K. “Our plans are to continue on a similar trajectory this year and then continuing forward as we expand into new regions throughout the globe and bring new products and services to bear.” “And that is not on a small denominator anymore,” Schneider said. It has about 3,000 customers, and while these were traditionally mid-market and small-enterprise companies, over the past year it’s grown its large-enterprise business 438% year over year.Īdditionally, the startup boasts 100% revenue growth year over year for each of the last seven years. At the end of the day, they want to feel safe and know that their business is protected.” Arctic Wolf CEO Talks Expansion, Boasts 438% YoY GrowthĪrctic Wolf developed a cloud-native security operations platform that provides several managed security services including threat detection and response, vulnerability and risk, cloud infrastructure and services monitoring, and security awareness training. So the manner in which we’re building Arctic Wolf, in which we have built Arctic Wolf from day one, really resonates with customers. ![]() “You need to be flexible with the talent that the customer has within their own environment, and you need to unify what has historically been a pretty disparate market. “You need to be agnostic in the tools and the technology that the customer uses,” Schneider said. The answer, he added, is a vendor-agnostic, security-operations approach that provides customers with a platform that works with their existing products and infrastructure. “The approach that you can solve for every attack surface, and every threat vector with a new product or a new piece of technology does not work in cybersecurity.” And quite frankly, we agree,” Schneider said. “What we’re hearing from the customers is that they feel like the cybersecurity industry has failed them. That’s the opportunity for Arctic Wolf.”ĭespite the projected spending increase on information security and risk management technology, organizations still suffer breaches, and these attacks are also growing exponentially in scale and cost. Security’s still looking for that category-defining platform, and that’s our goal. “And the reason for the market being so significant is that it’s really poised for consolidation. ![]() “It’s a massive market,” Schneider said in an interview with SDxCentral. In a series of big moves for the security operations startup, Arctic Wolf elevated its president, Nick Schneider, to CEO less than a month after closing a $150 million Series F funding round that boosted its valuation to $4.3 billion.Īrctic Wolf’s original CEO Brian NeSmith, who co-founded the company in 2012, will move into the executive chairman role as the cybersecurity unicorn eyes an initial public offering (IPO) in the next year - and a $150.4 billion market opportunity. ![]()
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