Swimlane, an independent security orchestration, automation and response (SOAR) provider, recently secured $23 million in a Series B financing round led by utility-backed energy investment and innovation firm Energy Impact Partners (EIP). The Denver-based company stated the new funding will be used to accelerate its product development and expand the company’s partnerships.
Swimlane delivers scalable and flexible security operations management software to help organizations address all security operations (SecOps) needs, including prioritizing alerts, orchestrating tools and automating the remediation of evolving threats. Swimlane claims that its suite of security orchestration, automation, and response (SOAR) tools were designed to help security teams tackle the ever-growing number and increasing complexity of cyber-attacks.
Commenting on the new investment Cody Cornell, the co-founder and CEO of Swimlane, said, “The sheer volume of threats, shortage of available security talent and lack of integration between existing security and IT products creates an almost impossible situation for the modern security ops team. Swimlane is built for organizations looking to alleviate the pain of being understaffed and overworked, improving staff retention by moving away from reactive mundane tasks, and ultimately, creating a more proactive, effective and secure organization.”
“We look for companies with the proven ability to execute globally across vertical markets and ultimately transform how businesses operate—and Swimlane fits firmly in this category,” said Sameer Reddy, EIP partner. “Security teams across the world face the same two foundational challenges—a lack of qualified staff and too many point solutions to manage and operate well. As the leading independent SOAR provider on the market, we have heard directly how Swimlane helps resolve these organizational inefficiencies and streamlines the way industries respond to incidents, adhere to regulatory compliance mandates and mitigate the risk of cyberattacks for their customers.”