AlienVault today announced that it has closed a $22.4 million Series C funding round led by Kleiner Perkins Caufield & Byers (KPCB) and Sigma, with participation from existing investors Trident Capital and Adara Venture Partners.
The company says the funding will be used to expand its sales, marketing and support functions, and to further invest in research and development.
"As a result of its series C raise, KPCB managing partner Ted Schlein will be joining the startup’s board," writes TechCrunch's Rip Empson. "Schlein is a veteran investor in the security space, having backed Fortify Software and ArcSight (both bought by HP), ISS, Mandiant, Shape, and others. The KPCB Managing Director joins a board that includes former Fortify CEO John Jack as well as the former Chairman of the Joint Chiefs of Staff, General Peter Pace."
"AlienVault says it has more than doubled revenues in the first half of this year, without sharing actual numbers," writes TNW's Robin Wauters. "The company claims it has over 300 customers from the software, financial services, education, telco and other industries."
"The security management sector is drawing investors like bees to honey," writes VentureBeat's Ed Sutherland. "The so-called Security Information and Event Management area is expected to grow 21.9 percent annually and top $2.3 billion by 2014, according to investment firm William Blair & Co. figures."
"Having been involved in the SIEM market since its inception, I have a deep appreciation for the new and exciting direction AlienVault is taking the technology and the market," KPCB managing partner Ted Schlein said in a statement. "Their open and collaborative Unified Security Management platform provides the kind of security visibility that no one has been able to deliver on yet. I’m very glad to be partnering with such a seasoned and successful team of executives to help evolve the security and SIEM markets."