- General
- October 22, 2020
- 3 minutes read
Arctic Wolf Scores $200M Round
Arctic Wolf, a Minnesota-based cybersecurity company, has raised $200 million in Series E funding led by hedge fund Viking Global Investors, with…
Arctic Wolf, a Minnesota-based cybersecurity company, has raised $200 million in Series E funding led by hedge fund Viking Global Investors, with participation from other existing investors including DTCP, an investment firm backed by telecoms giant Deutsche Telekom. The Series E funding adds up the total amount of financing that Arctic Wolf has raised since its inception to about $350 million and values the company at $1.3 billion.
Before now, Arctic Wolf’s most recent funding round was a $60 million Series D closed in March this year.
Arctic Wolf is a company that provides cyber risk management services for enterprises. The company employs cybersecurity experts who work as an extension of an organization’s internal team to monitor and manage cybersecurity operations. Arctic Wolf says it’s seen a 106% growth in revenue over the past year.
With the new Series E funding, Arctic plans to expand and add 150 new jobs. Before now, the company was based out of California but has relocated its headquarters to the city of Eden Prairie in Minnesota.
Arctic Wolf is led by CEO Brian NeSmith, a serial tech executive who led two previous companies, Ipsilon Networks (acquired by Nokia) and Blue Coat Systems (acquired by Symantec). Unlike his two previous companies where he led as an executive, NeSmith is actually the founder of Arctic Wolf and has led the company for eight years.
