SenseOn secures $20m in Series A funding from Eight Roads Ventures to scale its AI cybersecurity platform.
The Series A round was led by Eight Roads Ventures with backing from MMC Ventures, Crane Venture Partners and Winton Ventures.
≈ £14.6M at $1 = £0.7299 on 27 Sep 2021
Senseon provides an artificial intelligence platform for cyber defence that automates threat detection across digital estates. The company combines expertise from former government operatives and machine learning specialists.
SenseOn has raised $20m in a Series A funding round to scale its cloud native AI cybersecurity platform and expand its operations. The financing was led by Eight Roads Ventures, with participation from existing backers MMC Ventures, Crane Venture Partners and Winton Ventures. The capital injection follows a period of rapid growth for the firm, during which annual revenues increased by more than 350 percent.
Alongside the funding, the company announced the appointment of veteran software executive Jeremy Duggan to its board. The fresh resources will be directed toward further research and development initiatives as well as expanding the go to market team to meet rising demand for automated security solutions.
From the founder
"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."
David Atkinson
Founder and CEO at Senseon
Investor perspective
"SenseOn is poised to become a global cybersecurity leader. We have long looked for a company which coordinates detection intelligently across domains and can consolidate multiple tools into one solution. SenseOn does this and more. We are privileged to partner with such a thoughtful and high-integrity group as Dave and team."
Alston Zecha
Partner, Eight Roads
Use of funds
- 01Fund research and development
- 02Accelerate go-to-market
