Home Venture Capital Cybersecurity firm Swimlane raises $70M round

Cybersecurity firm Swimlane raises $70M round

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Swimlane LLC, a Louisville cybersecurity startup, has raised $70 million in a recent fundraising round led by venture capital firm Activate Capital, which has operations in Pennsylvania and California.

Swimlane founder and CEO Cody Cornell. (Swimlane/Courtesy photo)
Swimlane founder and CEO Cody Cornell. (Swimlane/Courtesy photo)

“The new investment will accelerate the company’s ongoing growth and operations on a global scale while continuing to advance its platform innovations in security automation ahead of the competition,” Swimlane said in a news release. “(The) new investment will also accelerate the growth of Swimlane’s global partner network and create new market opportunities through partners in all major geographies. This will include technical partner support and enablement to help partners unlock the power of automation beyond just threat response.”

As part of the deal, Activate Capital managing partner Raj Atluru will join Swimlane’s board of directors.

Swimlane, founded in 2014 by CEO Cody Cornell, specializes in security orchestration, automation and response software. That platform — often referred to as SOAR — helps companies and organizations manage cyber threats without having to employ large teams of security analysts.

“We invested in Swimlane because we believe in the company’s ability to unlock the most valuable product developments customers demand for security automation inside and outside the SOC,” Atluru said in the release. “Swimlane has transcended traditional SOAR and risen to meet the growing need for low-code security automation to help organizations quantify business value, overcome process and data fatigue, and combat chronic staffing shortages.”

Crunchbase’s tabulation of venture funding raised by the company since 2016 pegs the total at about $100 million.

This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2022 BizWest Media LLC.

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