Establishing Digital Trust: Don't Sacrifice Security for Convenience
Proficio, a Carlsbad, Calif.-based cybersecurity company announced on Dec. 14 that it had completed a round of funding led by Kayne Anderson Capital Advisors.
Although the deal's dollar amount was not disclosed, the transaction pushes Kayne Anderson's investment in Proficio past the $20 million mark. In November 2016, the company revealed it had secured $12 million from Kayne Partners Fund, a Kayne Anderson Capital Advisors unit focused on technology businesses.
Proficio specializes in security-as-a-service solutions. The managed security service provider (MSSP) delivers security information event management (SIEM) and Security Operations Center (SOC) monitoring to businesses. Customers include Universal Music Group, HealthSouth and the AAA, among others.
Earlier this year, Proficio opened an SOC in Barcelona and set up shop in Australia and Singapore.
"Since our initial investment, Proficio has continued to expand internationally and we are excited by the European growth stemming from the company's Barcelona security operations center," said Nate Locke, partner at Kayne Partners Fund group, in a statement.
Now, the company has even bigger plans.
"The funding will allow us to rapidly expand our global presence in Asia Pacific and Europe as well as deliver a number of enhancements to our SOC-as-a-service platform," said Tim McElwee, co-founder and president of Proficio in a statement.
2017 has been a good year for cybersecurity companies seeking funding.
The seemingly endless barrage of large-scale data breaches, ransomware outbreaks and other attacks has drawn attention to a need for innovative defenses that protect against today's threats and heightening the profiles of startups that can help enterprises defend their networks.
Earlier this month, Los Angeles-based Prevoty announced it had raised $13 million in a Series B round of funding. The startup's autonomous application protection system enables applications to defend themselves against cross-site scripting (XSS), cross-site request forgery (CSRF), SQL injection and other threats.
In November, dark web intelligence startup Terbium Labs attracted $6 million in venture capital, bringing the company's total haul to $15 million. Threat intelligence firm ThreatQuotient announced it had raised $30 million.
AI security company Darktrace made waves in July when it announced it had scored $75 million in funding. The year's $100 million-plus venture capital deals included Illumio ($125 million), BlueteamGlobal ($125 million), Netskope ($100 million).
Pedro Hernandez is a contributing editor at eSecurity Planet. Follow him on Twitter @ecoINSITE.