Cybersecurity firm Swimlane raises $70M round

Cybersecurity firm Swimlane raises $70M round


Swimlane LLC, a Louisville cybersecurity startup, has raised $ 70 million in a recent fundraising round led by venture capital firm Activate Capital, which has operations in Pennsylvania and California.

Cody Cornell, founder and CEO of Swimlane.  (Swimlane / Photo courtesy)
Cody Cornell, founder and CEO of Swimlane. (Swimlane / Photo courtesy)

“The new investment will accelerate the company’s growth and operations globally while continuing to advance innovations in its platform in security automation ahead of the competition,” Swimlane said in a press release. “(The) new investment will also accelerate the growth of Swimlane’s global network of partners and create new market opportunities through partners in all major geographies. This will include technical support and the empowerment of partners to help partners to unlocking the power of automation beyond responding to threats “.

As part of the deal, Active Capital managing partner Raj Atluru will join Swimlane’s board of directors.

Swimlane, founded in 2014 by CEO Cody Cornell, specializes in orchestration, automation and security response software. This platform, often called SOAR, helps companies and organizations manage cyber threats without having to hire large teams of security analysts.

“We have invested in Swimlane because we believe in the company’s ability to unlock the most valuable product developments that customers demand for security automation inside and outside the SOC,” Atluru said in the statement. “Swimlane has transcended traditional SOAR and grown to meet the growing need for low-code security automation to help organizations quantify business value, overcome process and data fatigue, and combat chronic staff shortages.”

Crunchbase’s tabulation of the risk funding raised by the company since 2016 sets the total at about $ 100 million.

This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2022 BizWest Media LLC.



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