The UK headquartered cyber security company, SenseOn announced its $20m Series A funding round to scale its cloud-native AI cybersecurity platform. The funding came after a year in which SenseOn grew by more than 350%. Series A funding round was led by Eight Roads Ventures and was supported by existing investors MMC Ventures, Crane Venture Partners, and Winton Ventures Limited.
New board member
The company also announced that veteran software go-to-market leader Jeremy Duggan is joining the company’s board to support this next phase of growth. Jeremy has previously taken AppDynamics, Bladelogic, and Ascential to unicorn status.
SenseOn stated that with the funding, the company aims to improve cyber team productivity with more effective and faster investigations. The company will also aim to reduce costs by consolidating point solutions and deploying them 15 times faster. The capital will also accelerate SenseOn’s mission through further Research and Development, as well as scaling its go-to-market team. David Atkinson, CEO of SenseOn said,
“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. 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.”