Sysdig Closes $68.5 Million in Series D Funding to Enable Enterprises to Secure and Monitor Containers and Cloud-Native Applications
Sysdig, Inc., the cloud-native intelligence company, today announced it raised $68.5 million in series D funding, led by Insight Venture Partners, with participation from previous investors, Bain Capital Ventures and Accel. This round of funding brings Sysdig’s total funding to date to $121.5 million. Sysdig will use the funds to extend its leadership in enabling enterprises to operate reliable and secure containerized infrastructure and cloud-native applications.
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Sysdig closes $68.5 million in series d funding to enable enterprises to secure and monitor containers and cloud-native applications (Graphic: Business Wire)
Suresh Vasudevan, CEO at Sysdig, authored a blog post with more information on Sysdig's funding.
Sysdig offers enterprises the first unified approach to container security, monitoring, and forensics. Unlike traditional approaches, the Sysdig Cloud-Native Intelligence Platform was built with an understanding of the modern DevSecOps workflow across Kubernetes, Docker and both private and public clouds. Sysdig’s open source forensics technology, Sysdig, and its open source security project, Sysdig Falco, have a community of millions of users, and provide the foundation for a rich, commercial product set. Dozens of Global 2000 enterprises are Sysdig customers today, including many of the world’s largest financial institutions, media companies, cable companies, technology companies, and government agencies.
451 Research predicts the cloud-enabling technology market to grow to $39.6B through 2020, and containers are predicted to be the fastest growing segment of that market at 40%. Gartner predicts that “by 2020, more than 50% of global organizations will be running containerized applications in production, up from less than 20% today.”1
“As enterprises accelerate their move to cloud-native applications, they recognize the need for a new breed of solutions that will enable them to meet performance, reliability, security, and compliance requirements,” said Richard Wells, Managing Director at Insight Venture Partners. “Sysdig’s novel approach of tapping an entirely new data source that provides both security and monitoring for container-based applications has proven more effective, more scalable, and higher ROI. That significant technological advantage combined with an experienced management team led by CEO Suresh Vasudevan gives Sysdig a strong position in the marketplace and we are excited to welcome them to the Insight portfolio.”
Sysdig launched Sysdig Secure in October of 2017, cementing the Sysdig Cloud-Native Intelligence Platform as the only solution to offer unified security, monitoring, and forensics with native Kubernetes and Prometheus integration for containers and microservices. Last quarter, Sysdig expanded on the deep container visibility Sysdig provides to create Sysdig Secure 2.0, which brings vulnerability management, more than 200 compliance checks, and security analytics to cloud-native environments and microservices for enterprise customers. Sysdig Secure is the first container security offering to take a data-driven approach across all aspects of the container lifecycle.
“Enterprises are adopting cloud-native technology for its speed of development, multi-cloud scaling capabilities, and lower total cost of ownership,” said Suresh Vasudevan, CEO at Sysdig. “But, they are hitting roadblocks with old school security and monitoring products. To be successful, these organizations need new solutions that are cloud-native. Sysdig has emerged as the only solution that delivers enterprises the complete set of capabilities needed to protect an environment, ensure that it is running smoothly, and meet compliance requirements. Sysdig delivers it all, both in the cloud and on-premise, in order to grow with companies as they undertake this journey.”
This round of funding further accelerates the strong momentum and rapid growth Sysdig has experienced over the last year. Downloads of Sysdig Falco have roughly tripled over the last 12 months and active users of the Sysdig SaaS offerings have grown nearly six times year over year. Last month, Sysdig opened a second headquarters in Raleigh, North Carolina to keep up with company growth while the company also continues to scale its offices in San Francisco, Belgrade, and London.
In addition to its global growth, Sysdig has expanded its executive team with the hiring of Suresh Vasudevan as CEO in April and Larry Castro as VP of finance and corporate operations last month. Sysdig continues to deliver on its commitment to leading the industry by collaborating with the Cloud-Native Computing Foundation, the PCI Security Council, and industry partners and by contributing to the development of security recommendations for modern infrastructure.
Sysdig is the cloud-native intelligence company.
We have created the only unified platform to deliver container security, monitoring, and forensics in a microservices-friendly architecture. Our open source technologies have attracted a community of over a million developers, administrators and other IT professionals looking for deep visibility into applications and containers. Our cloud-native intelligence platform monitors and secures millions of containers across hundreds of enterprises, including Fortune 500 companies and web-scale properties. Learn more at www.sysdig.com.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
About Bain Capital Ventures
Bain Capital Ventures partners with disruptive founders to accelerate their ideas to market. The firm invests from seed to growth in enterprise software, infrastructure software, crypto, and industries being transformed by data. Bain Capital Ventures has helped launch and commercialize more than 200 companies since 1984, including DocuSign, Jet.com, Kiva Systems, LinkedIn, Rapid7, Redis Labs, Rent the Runway, SendGrid, SurveyMonkey, SysDig, Taleo, and Turbonomic. Bain Capital Ventures has approximately $3.9 billion in assets under management with offices in San Francisco, Palo Alto, New York and Boston. Follow the firm via LinkedIn or Twitter.
Accel partners with exceptional founders with unique insights, from inception through all phases of growth. Atlassian, Braintree, Cloudera, Crowdstrike, DJI, DocuSign, Dropbox, Etsy, Facebook, Flipkart, Jet, Pillpack, Qualtrics, Slack, Spotify, Supercell, Tenable, Venmo and Vox Media are among the companies the firm has backed over the past 35 years. The firm seeks to understand entrepreneurs as individuals, appreciate their originality and play to their strengths. Because greatness doesn't have a stereotype. For more, visit www.accel.com, www.facebook.com/accel or www.twitter.com/accel.
1 Gartner, Smarter with Gartner, 6 Best Practices for Creating a Container Platform Strategy October 31, 2017, https://www.gartner.com/smarterwithgartner/6-best-practices-for-creating-a-container-platform-strategy/
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