TCV leads $100m round for cloud cybersecurity specialist Vectra


Tech investor TCV has led a $100m funding round for network threat detection and response business Vectra.

Previous investors in the business have included IA Ventures, Khosla Ventures and Accel Partners, with the latter leading a $25m Series C round for the company in 2014.

The latest round brings Vectra’s total funding to $200m, with the company saying it would use the new capital to accelerate global market expansion and R&D innovation.

TCV general partner and Vectra board member Tim McAdam said, “TCV has an extensive track record of partnering with enterprise security companies, including Rapid7 and Splunk, from growth stage to public.

“In our research on the category, it became clear to us that Vectra was rapidly gaining momentum with customers by rethinking the way enterprises view both network and cloud security.

“The Vectra Cognito platform is poised to become requisite in the security infrastructure of multinational enterprises and midsize businesses alike.”

Vectra president and CEO Hitesh Sheth added, “The cloud has inherent security blind spots, making it imperative to eliminate cyber-risks as enterprises move their business to the cloud.

“The Cognito platform enables them to stop hidden cyberattacks in the cloud. We look forward to partnering with TCV and our existing investors as we continue our rapid growth.”

TCV, which was founded in 1995, has raised more than $15bn of capital dedicated to growth investment in tech businesses.

Big hit investments for the firm have included Airbnb, Facebook, LinkedIn, Netflix and Spotify.

Copyright © 2019 AltAssets

Get the latest PE News & Research delivered to your inbox every morning