expand sales and marketing teams
BOSTON (BUSINESS WIRE) ObserveIT ,
the leading insider threat management provider with more than 1,700
customers around the world, today announced it closed $33 million in
Series B funding. The investment round includes participation from Bain
Capital Ventures, Spring Lake Equity Partners and NightDragon Security,
the cybersecurity investment firm founded by industry veteran Dave
DeWalt.
The funding will be used to accelerate innovation for ObserveIT’s
award-winning insider threat management solutions and to expand
ObserveIT’s sales and marketing teams to support the company’s global
growth. This will enable the company to fulfill the growing demand for
its threat detection solution across the globe.
“Whether accidental or malicious, insider threats are increasing in both
frequency and cost,” said Mike McKee, CEO of ObserveIT. “Our recent
momentum is a testament to the market’s need for a holistic
cybersecurity solution which swiftly identifies and eliminates these
risks with real-time visibility, detection, and prevention. We look
forward to continuing our mission of bringing the best insider threat
capabilities to market, to protect organizations around the globe.”
ObserveIT has recently achieved significant milestones including
adoption of the latest version of the company’s insider threat
management solution,ObserveIT
, which has been the fastest in the company’s history. In thepast 12 months, the company increased customer deals by 185 percent
year-over-year while also increasing new customer deal size by more than
250 percent year-over-year. The company continues to achieve a high
support Net Promoter Score increasing to 76 reflecting deep customer
loyalty, continued confidence and overall support.
Formore information on how ObserveIT helps organizations
identify and eliminate insider threats, visit here .
About ObserveIT
ObserveIT is the leading Insider Threat
Management solution with more than 1,700 customers across 87 countries.
ObserveIT is the only solution that empowers security teams to detect
insider threats, streamline the investigation process, and prevent data
exfiltration. With 300+ out-of-the-box insider threat indicators of
compromise, rich metadata and outstanding search capability and playback
of any policy violation, ObserveIT provides comprehensive visibility
into what people contractors, privileged users and high-risk users
are doing, and reduces investigation time from days to minutes. For more
information visit: www.observeit.com .
Contacts
ObserveIT
Hannah Curtis, 617-502-4350
ObserveIT@pancomm.com
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