Total amount raised
$309.8 Millions
Latest funding date
Location
Huntress has successfully raised $150 million in its latest funding round, bringing its valuation to over $1.5 billion. The company is currently in the Series D funding stage, backed by 13 investors including Meritech Capital Partners and Kleiner Perkins.
Keep reading to explore the intricacies of Huntress's fundraising journey and the investors backing this innovative cybersecurity platform.
What Is Huntress?
Huntress, founded in 2015 by Chris Bisnett, John Ferrell, and Kyle Hanslovan, is headquartered in Columbia, Maryland. The company specializes in providing managed cybersecurity solutions tailored for small and mid-sized businesses (SMBs).
Huntress offers a comprehensive suite of services, including Managed EDR, MDR for Microsoft 365, Security Awareness Training, Managed Phishing, and Custom Training Content. These services are designed to help SMBs overcome cybersecurity challenges and protect critical business assets.
With a team of 501-1000 employees, Huntress combines advanced technology with a fully staffed 24/7 Security Operations Center (SOC) to deliver robust cybersecurity solutions. For more details, visit their official website or their Crunchbase profile.
How Much Funding Has Huntress Raised?
- Seed Round
- Amount Raised: $760,000
- Date: June 2017
- Lead Investors: Blu Venture Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop initial cybersecurity solutions.
- Seed Round
- Amount Raised: $1 million
- Date: January 2019
- Lead Investors: Blu Venture Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance product development.
- Series A
- Amount Raised: $18 million
- Date: February 2020
- Lead Investors: Forgepoint Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve the Managed Security Platform.
- Series B
- Amount Raised: $40 million
- Date: May 2021
- Lead Investors: JMI Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Debt Financing
- Amount Raised: $40 million
- Date: September 2022
- Lead Investors: CIBC Innovation Banking
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund acquisitions and new product development.
- Series C
- Amount Raised: $60 million
- Date: May 2023
- Lead Investors: Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the Managed Security Platform and expand market reach.
- Series D
- Amount Raised: $150 million
- Date: June 2024
- Lead Investors: Meritech Capital Partners, Kleiner Perkins, Sapphire Ventures
- Valuation at Round: Exceeding $1.5 billion
- Motivation Behind the Round: To support the development of new cybersecurity products.
Huntress has raised a total of $309.76 million in funding, with a current valuation of over $1.5 billion.
Key Investors
- Meritech Capital Partners
- Details: Meritech Capital Partners is a venture capital firm that invests in technology companies. They have a strong track record of backing high-growth companies in various tech sectors.
- Investment Focus Areas: Technology, software, cybersecurity, high-growth sectors.
- Notable Investments: Facebook, Salesforce, Datadog.
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm that specializes in investing in early-stage and growth companies. They have been instrumental in the success of many tech giants.
- Investment Focus Areas: Technology, life sciences, innovative sectors.
- Notable Investments: Google, Amazon, Twitter.
- Sapphire Ventures
- Details: Sapphire Ventures is a global technology-focused venture capital firm with approximately $10 billion in assets under management. They have over two decades of experience partnering with visionary management teams.
- Investment Focus Areas: Technology companies, scaling companies, venture funds.
- Notable Investments: Box, LinkedIn, Square.
- Forgepoint Capital
- Details: Forgepoint Capital is a leading venture capital firm specializing in cybersecurity and infrastructure software. They manage over $1 billion in assets and have a portfolio of nearly 40 companies.
- Investment Focus Areas: Cybersecurity, infrastructure software.
- Notable Investments: Appthority, Area 1 Security, Bishop Fox.
- JMI Equity
- Details: JMI Equity is a growth equity firm focused on investing in leading software companies. They have partnered with over 180 software businesses in North America and Europe.
- Investment Focus Areas: Enterprise software, healthcare IT, financial technology.
- Notable Investments: ServiceNow, PointClickCare, Seismic.
What's Next for Huntress?
Huntress stands at the cusp of significant growth opportunities, driven by the increasing complexity of cybersecurity threats and the vast market of 32 million SMBs in the United States alone. With nearly 100,000 customers and over 2 million endpoints protected, the company is well-positioned to expand its Managed Security Platform and introduce new solutions like managed detection and response for Microsoft 365. The recent $60 million Series C funding will fuel international expansion and the development of new products, targeting larger mid-market businesses and underserved regions like Latin America and India.
Future fundraising opportunities appear promising as Huntress continues to grow and scale its operations. The company’s rapid revenue growth and market expansion suggest potential for additional investment rounds, possibly leading to an IPO in the summer of 2025. However, challenges such as the evolving tactics of threat actors, budget constraints faced by SMBs, and the need to continuously enhance their platform could pose hurdles. Despite these challenges, Huntress's strategic acquisitions and robust investor backing position it for sustained success in the cybersecurity landscape.
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