UK headquartered cyber security company, SenseOn, has secured a $20 million Series A funding round to scale its cloud native AI cybersecurity platform. The fundraise follows a year in which the cybersecurity solutions company grew by more than 350%.
Despite many new cybersecurity tools coming to market, malicious actors would still remain undetected. Disparate tools individually protect only specific parts of an organization’s digital estate and are unable to connect the dots, according to SenseOn.
SenseOn is on a mission to deliver the security architecture for the future, making the digital world safer without fear of ransomware, extortion, data theft and advanced threats.
Founded in 2017 by David Atkinson, one of the first cyber specialists in the United Kingdom’s specialist military units, SenseOn brings together cyber security experts, former government cyber operatives and applied machine learning specialists.
The fresh capital is aimed at accelerating SenseOn’s ambitious mission through further R&D, as well as scaling its go-to-market team.
With more effective and quicker research, SenseOn would help increase the productivity of a cybersecurity team, reducing expenses for its clients through the consolidation and significant faster deployment of point solutions. In addition to AI based automation and open security data cloud, SenseOn combines extensive detection and response capabilities across previously siloed security domains. Its single platform identifies and shuts down proactively threats, such as ransomware, hacking and data theft, and hostile insiders to resolve major security issues in a fast-changing IT environment. It would also be ideal for hybrid or remote work, as it can be quickly installed in and out of any endpoint or network.
To support its next phase of growth, SenseOn welcomes veteran software go-to-market leader Jeremy Duggan to its board. Jeremy Duggan has previously taken three SaaS companies – AppDynamics, Bladelogic and Ascential – to unicorn status.
“We are facing a new reality whereby attackers are advancing more quickly than legacy approaches can keep up with, but hybrid and multi-cloud environments are far more complex than we yet know how to defend,” said David Atkinson, CEO of SenseOn. “Added to this, the volume and speed of data is beyond what legacy architecture was ever designed to handle. The daily headlines show legacy approaches don’t work and if we don’t do something courageous now as a security community or we aren’t going to stand a chance in the future. We chose to partner with Eight Roads Ventures because of their ability to support SenseOn’s vision, thanks to their collaborative partnership style, their strong knowledge of the cyber industry and their global footprint.”
“After meeting Dave and learning about his personal story and the incredible business he is building I was thrilled to become a board member and play a part in this special company,” said Jeremy Duggan. “The product is genuinely market leading, the market is huge, and the people in the team are hugely passionate and intelligent. SenseOn has the potential to become another outstanding UK tech unicorn and it’s incredibly exciting to be a part of that.”
This investment round was led by Alston Zecha from Eight Roads Ventures who have a growing portfolio of cybersecurity companies globally.
“SenseOn is poised to become a global cybersecurity leader,” said Alston Zecha, Director at Eight Roads. “We have long looked for a company which coordinates detection intelligently across domains and can consolidate multiple tools into one solution. SenseOn does this and more. We are privileged to partner with such a thoughtful and high-integrity group as Dave and team.”