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ObserveIT Closes $33M in Series B Financing with Support from Dave DeWalt’s Nig ...

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ObserveIT to drive innovation for insider threat management solution,
expand sales and marketing teams
ObserveIT Closes M in Series B Financing with Support from Dave DeWalt’s Nig ...

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 the

past 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
ObserveIT Closes M in Series B Financing with Support from Dave DeWalt’s Nig ...
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