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Total amount raised
$309.8 Million
Latest funding date
6/1/2024
Location
Huntress has successfully raised $150 million in its recent Series D funding round, achieving a valuation exceeding $1.5 billion. The company is backed by notable investors, including Meritech Capital Partners and Kleiner Perkins, among others.
What Is Huntress?
Huntress, founded in 2015, is a prominent player in the cybersecurity industry. Headquartered in Columbia, Maryland, the company specializes in providing managed detection, investigation, and response services for small and mid-sized businesses (SMBs) and managed service providers.
With a team of 501-1000 employees, Huntress was established by Chris Bisnett, John Ferrell, and Kyle Hanslovan. The company combines its Managed Security Platform with a 24/7 Security Operations Center (SOC) to offer comprehensive cybersecurity solutions, protecting over 2 million endpoints and supporting more than 105,000 organizations.
How Much Funding Has Huntress Raised?
- Seed Round
- Amount Raised: $760K
- Date: June 2017
- Lead Investors: Blu Venture Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and establish a market presence.
- Seed Round
- Amount Raised: $1M
- Date: January 2019
- Lead Investors: Blu Venture Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand the customer base.
- Series A
- Amount Raised: $18M
- Date: February 2020
- Lead Investors: Forgepoint Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To address the critical need for managed endpoint detection and response (EDR) for the SMB market.
- Series B
- Amount Raised: $40M
- Date: May 2021
- Lead Investors: JMI Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Huntress’ commitment to protecting, educating, and enabling their customers to be successful.
- Debt Financing
- Amount Raised: $40M
- Date: September 2022
- Lead Investors: CIBC Innovation Banking
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth initiatives.
- Series C
- Amount Raised: $60M
- Date: May 2023
- Lead Investors: Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Huntress’ suite of solutions, enhance the Managed Security Platform, and support market expansion to meet the evolving needs of SMBs.
- Series D
- Amount Raised: $150M
- Date: June 2024
- Lead Investors: Meritech Capital Partners, Kleiner Perkins
- Valuation at Round: Exceeding $1.5 billion
- Motivation Behind the Round: To support the development of new products aimed at enhancing cybersecurity for small and mid-sized businesses.
Total Amount Raised: $309.76M. Current Valuation: Exceeding $1.5 billion.
Key Investors
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm known for investing in early-stage and growth companies. They have a long history of backing some of the most successful technology companies in Silicon Valley.
- Investment Focus Areas: Technology, life sciences, high-growth industries.
- Notable Investments: Google, Amazon, Twitter.
- Meritech Capital Partners
- Details: Meritech Capital Partners focuses on late-stage venture capital investments. They are known for their strategic support and deep industry expertise.
- Investment Focus Areas: Technology companies at the growth stage.
- Notable Investments: Facebook, Salesforce, Snowflake.
- Sapphire Ventures
- Details: Sapphire Ventures invests in growth-stage technology companies. They aim to help innovative companies scale and achieve their full potential.
- Investment Focus Areas: Growth-stage technology companies, enterprise software, consumer internet, financial technology.
- Notable Investments: Box, LinkedIn, Square.
- Forgepoint Capital
- Details: Forgepoint Capital specializes in cybersecurity investments. They focus on early-stage and growth-stage companies developing innovative security solutions.
- Investment Focus Areas: Cybersecurity, infrastructure software.
- Notable Investments: Appthority, Area 1 Security, Attivo Networks.
- JMI Equity
- Details: JMI Equity is a growth equity firm that invests in leading software companies. They provide capital and strategic support to help companies grow and scale.
- Investment Focus Areas: Software companies, enterprise software, healthcare IT, internet infrastructure.
- Notable Investments: ServiceNow, DoubleClick, PointClickCare.
What's Next for Huntress?
Huntress is poised for significant growth, with opportunities to enhance its Managed Security Platform and expand into larger mid-market businesses and international markets. The company aims to address the cybersecurity needs of SMBs, a sector that represents 32 million businesses in the U.S. alone. With a customer base nearing 100,000 and over 2 million endpoints protected, the potential for market expansion is vast.
Future fundraising opportunities are likely, as Huntress continues to grow and innovate. The company has already raised substantial funds, including a recent $60 million Series C round, and is considering an IPO in the summer of 2025. This financial backing will support further development and scaling, positioning Huntress as a key player in the cybersecurity industry.
However, challenges remain. The cybersecurity landscape is increasingly complex, and Huntress must continuously adapt its platform to meet evolving threats. Additionally, competition from larger firms and the need to maintain high-quality service while scaling operations will test the company's resilience. Despite these hurdles, Huntress's strategic vision and robust support from investors suggest a promising future.
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