Stellar Cyber announced a successful Series A funding round, bringing in $7.1 million. According to a statement, this brings Stellar Cybersecurity’s total financing to $21.8 million. With this new funding, the company plans to expand its research and development as well as sales and marketing.
Stellar Cyber offers the Starlight Open-XDR platform. This tool ingests data from existing cybersecurity tools, aggregates and synthesizes it, and generates threat alerts. The Open-XDR platform operates through a single pane of glass and can automatically detects and resolve cyber attacks. Additionally, the company offers automated threat-hunting, network traffic analysis, and user behavior analytics. Also, it seeks to increase analyst productivity and leverage existing investments in firewalls, SIEM, and other solutions.
The Series A round included existing vendors Valley Capital Partners, Big Basin Ventures, and Northern Light Venture Capital. Moreover, Susquehanna International Group joined as a new investor. The solution provider chose to extend the Series A funding round rather than open a new one to bring on new vendors more quickly, according to the press release.
Changming Liu, CEO and co-founder of Stellar Cyber, offered his thoughts on the successful funding round. “Enterprises and MSPs are adopting Starlight because it slashes false positives and unifies all cybersecurity efforts under a single platform. We have had outstanding growth in the past year, and we’re grateful that this has been acknowledged by both our investors and our customers.”
Learn more about Stellar Cyber here.
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