Bit9 + Carbon Black Raises $54.5M
WALTHAM, Mass., Oct. 14, 2015 (GLOBE NEWSWIRE) -- Bit9® + Carbon Black®, the market leader in Next-Generation Endpoint Security (NGES), today announced it recently closed $54.5 million in Series F funding. The company will use investment to fuel its accelerating growth, product innovation and international expansion.
The round, the largest in the company's history, was led by current investor Accomplice's new EarlyAccess program. All of the company's other existing investors—.406 Ventures, Blackstone, Highland Capital Partners, Kleiner Perkins Caufield & Byers, and Sequoia Capital—also participated. New investors were Evolution Equity and Founders Circle.
The funding comes as the company expects to end 2015 with record results, including:
- $70M+ in revenue
- 70 percent annual growth
- 7 million+ software licenses sold
- Approaching 2,000 customers worldwide
- 60+ managed security service provider (MSSP) and incident response (IR) partners
Bit9 + Carbon Black started with a government cyber-security grant and has dozens of security experts, many of them trained by the NSA, CIA and FBI.
"Protecting the endpoint is the number-one issue in cyber security today as organizations have realized that the network is not the target of advanced threats; it's their endpoints—where a company's digital information lives," said Patrick Morley, president and CEO of Bit9 + Carbon Black. "Many vendors are trying to get into this space, including network security vendors, IT operations companies, and small startups. We invented the NGES market, and we have more success and experience in it than anyone.
"We've grown into the largest pure-play NGES company. Our business model is solid because we're driven by predictable recurring subscription revenue. We were voted Best Endpoint Protection by security professionals in the SANS Institute's Best of 2014 Awards, and a 2015 SANS survey found that 68 percent of incident response professionals are using or evaluating Carbon Black," Morley said.
"The endpoint is the next great wave in cyber security, and that's why we increased our investment in Bit9 + Carbon Black to fuel the company's ongoing leadership in this vital sector," said Jeff Fagnan, founder of Accomplice, formerly known as Atlas Ventures. "The need for effective endpoint security has never been greater, and no company meets that critical need the way Bit9 + Carbon Black does."
About Bit9 + Carbon Black
Bit9 + Carbon Black is the market leader in Next-Generation Endpoint Security. We have sold more licenses, have more experience, and more customers than any other NGES company because our solution is the most effective way to prevent, detect and respond to advanced threats that target users, servers, and fixed-function devices. That's why more than 60 MSSP and IR leaders, including Dell SecureWorks, EY, Optiv and Solutionary, have chosen our technology as a key component of their security offerings, and 25 of the Fortune 100 rely on us as a critical element of their advanced threat defense and compliance strategies. By the end of 2015, we expect to achieve $70M+ in annual revenue, 70 percent growth, 7 million+ software licenses sold, and almost 2,000 customers worldwide. We were voted Best Endpoint Protection by security professionals in the SANS Institute's Best of 2014 Awards, and a 2015 SANS survey found that 68 percent of IR professionals are using or evaluating Carbon Black.
Bit9 and Carbon Black are registered trademarks of Bit9, Inc. All other company or product names may be the trademarks of their respective owners.
CONTACT: Kevin Flanagan Bit9 + Carbon Black +1 781-856-2589 kflanagan@bit9.com Kristina LeBlanc MediaLink Group +1 508-930-5636 kristinawleblanc@gmail.com
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