UK-based SenseOn has raised a $20M (nearly €17.1M) Series A funding round to scale its cloud-native AI cybersecurity platform. The round was led by Eight Roads Ventures and was supported by existing investors MMC Ventures, Crane Venture Partners and Winton Ventures Limited.
According to the company, the funding will be used for its R&D endeavours, as well as scaling its go-to-market team. “To support this next phase of growth SenseOn welcomes veteran software go-to-market leader Jeremy Duggan to its board. Jeremy has previously taken three SaaS companies – AppDynamics, Bladelogic and Ascential – to unicorn status,” says the company.
Improving cyber team productivity
SenseOn was founded in 2017 by David Atkinson, who has over fifteen years’ experience working within the UK’s specialist military units and government environments, where he was the first cyber operative.
“We are facing a new reality whereby attackers are advancing more quickly than legacy approaches can keep up with, but hybrid and multi-cloud environments are far more complex than we yet know how to defend. Added to this, the volume and speed of data is beyond what legacy architecture was ever designed to handle. The daily headlines show legacy approaches don’t work and if we don’t do something courageous now as a security community or we aren’t going to stand a chance in the future,” says Atkinson, CEO of SenseOn.
The company brings together cyber security experts, former government cyber operatives and applied machine learning specialists. Its ‘AI Triangulation’ technology emulates how a human security analyst thinks and acts to automate the process of threat detection, investigation and response.
“By looking at the behaviours of users and devices from multiple perspectives, pausing for thought and learning from experience, SenseOn provides accurate and context-rich alerts. These automated capabilities free security teams from the burden of exhaustive analysis, alert fatigue and false positives,” claims SenseOn.
SenseOn claims to improve cyber team productivity with more effective and faster investigations, and it also reduces costs for its clients by consolidating point solutions and deploying 15x faster.
SenseOn combines broad detection and response capabilities across traditionally siloed security domains with AI-based automation and an open security data cloud. Its unified platform detects and shuts down threats including ransomware, hacking/data theft and malicious insiders.