Cyber security company Securonix raises $1 bln in Vista-led round

Feb 15 (Reuters) – Cloud-based security solutions provider Securonix has raised more than $1 billion in a private fundraising round led by private equity firm Vista Equity Partners, the company said on Monday.

The capital raised will allow it to make significant investments in hiring senior talent and expand its offerings around the world, its co-founder and chief executive Sachin Nayyar told Reuters in an interview.

The company – based in Addison, Texas – offers cloud-based cyber security threat detection and response services and it’s one of the largest in the category.

Securonix serves enterprise customers and government agencies around the world, including drug wholesaler AmerisourceBergen (ABC.N), and the United States accounts for more than half of its revenue.

“We really believe this is the time for us to invest a lot more,” Nayyar said. “We want to provide better intelligence and detection within the apps.”

Securonix has raised over $50 million from investors prior to the deal. Investment firms Volition Capital and Eight Roads Ventures participated in this funding round alongside Vista Equity. The terms of the deal were not disclosed.

It announced a marketing partnership last year with cloud data warehousing firm Snowflake Inc (SNOW.N). Nayyar said Securonix planned to partner with other data analytics platforms.

Reporting by Krystal Hu in Beijing; Editing by Simon Cameron-Moore and Rashmi Aich

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