Awake Security‘s Series C financing led by Evolution Equity Partners with participation from Energize Ventures and Liberty Global Ventures, as well as existing investors Bain Capital Ventures and Greylock Partners. In addition, Karthik Subramanian, partner at Evolution Equity, has joined Asheem Chandna, Enrique Salem and Kevin Mandia on the company’s board of directors. Series C financing brings Awake’s total funding to nearly $80 million and will be used to propel expansion in areas including R&D, sales and marketing to meet the growing demand for the company’s advanced network traffic analysis platform.
$80 million total funding
Awake Security also stated that the company has become a trusted and proven solution to quickly find and remediate these threats. Awake has also increased its annual recurring revenue (ARR) by close to 700% and doubled its employee headcount over the past year. Rahul Kashyap, CEO of Awake Security said,
“Awake has assembled the best minds in networking, machine learning, data science, cybersecurity, and other disciplines to create something entirely new that fills a massive void in the security market. By partnering with Evolution Equity with its deep U.S. and European network and cybersecurity expertise, and strategic investors Energize Ventures and Liberty Global, we’re building on that momentum to bring the Awake platform to even more organizations around the globe.”