Stellar Cyber, the maker of Open XDR, the only Everything Detection and Response platform, has raised $38 million in Series B funding round led by Highland Capital Partners, with active participation from all current investors Valley Capital Partners, SIG, and Northern Light Venture Capital, as well as new strategic investor Samsung. Stellar Cyber has already raised over $68 million in total funding.
“Today’s complex attacks are virtually impossible to rapidly detect with the traditional approach of using siloed, stand-alone tools, and our customers are tired of spending a fortune on tool collections that fail to cut off attacks. The Series B investment enables Stellar Cyber to continue leading the Open XDR market by driving innovation, increasing our market footprint, supporting partner expansion and hiring extraordinary talent,” said Changming Liu, CEO and co-founder of Stellar Cyber.
“Stellar Cyber offers the industry’s first Open XDR platform, and the only one that truly accepts security data from all tools and sources as well as its own sensors “A broad range of enterprises and MSSPs are deploying the Stellar Cyber platform at the center of their security operations because it shortcuts the time and effort to find in-progress cyberattacks or rogue insiders at work while fundamentally solving the problem of too many non-productive alerts,” said Corey Mulloy, partner at Highland Capital Partners.
“Today’s stone-cold reality requires a fundamentally different approach that breaks down traditional siloes of security to aggregate all data into a single plane for deep behavioral analysis that can find active attacks quickly and accurately. Stellar Cyber has taken the lead to break the necessary barriers to gain a proven 360-degree knowledge of attacks to get an upper hand on attackers,” said Raymond Liao, MD, Samsung Next.
“I am excited to see the tremendous growth Stellar Cyber has had since our initial investment. What we saw in Stellar Cyber’s early days is now clear to everyone. We welcome all the new investors to help Stellar Cyber reach its full potential to democratize cybersecurity for any enterprise,” said Raymond Choi, Managing Director at Valley Capital Partners and an existing board member of Stellar Cyber.