Panther Labs secured $120 million in a Series B funding round led by Coatue Management. The startup aims to make security monitoring fast, flexible and scalable, for security teams of all sizes.
The company uses a “dynamic security” philosophy. It consists of code-driven automation, zero-ops administration, and customizable alerts to help overcome challenges such as detection and scale. These features allow Panther to operate at any scale with ease.
“All teams deserve a purpose-built platform built for the demands of monitoring their organizations’ most sensitive assets, such as intellectual property, employee data, customer data, and more”, Panther Labs’ CEO Jack Naglieri said in a statement regarding the new investment.
With this new funding round, the company reaches a valuation of $1.4 billion. The money will go to product innovation and customer support. Also, Panther Labs plans for rapid organizational growth and hopes to maintain last year’s pace, in which it grew its customer base by 300%.