Anvilogic’s Threat Detection, Investigation and Response platform raises $25M
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In the fast-moving world of the Security Operation Center (SOC), solutions reliant on manual processes aren’t fit for purpose. With the volume of work of data that security teams are expected to monitor, even something as simple as investigating alerts can quickly become unmanageable.
In fact, research shows that 70% of SOC teams are emotionally overwhelmed by security alert volume. However, there are a range of providers emerging to provide more comprehensive automation options for the SOC.
One such organization is Anvilogic, a detection automation platform that today announced it has raised $25 million as part of a Series B funding round.
Anvilogic provides enterprises with a cloud-based security operations platform that analysts can use to conduct threat detection, investigation and incident response (TDIR), to optimize the detection, hunting and triage lifecycle and respond to threats faster.
Modernizing the SOC
Over reliance on manual processes in the SOC isn’t the only thing holding security teams back, there’s also the cyber skills gap, with 62% of security teams reporting they’re understaffed.
In many cases, this means they don’t have the expertise they need to secure their environments.
“Enterprise SOCs are limited by the skills they can find and retain, and therefore unable to protect against the threats they are prone to. Further, SOC teams spend inordinate amounts of time manually investigating and triaging the flood of alerts they receive daily. As a result, SOCs remain backlogged and underprepared perennially,” said co-founder and CEO for Anvilogic, Karthik Kannan.
“Today’s security silos and gaps create many threat detection challenges and bottlenecks for the business that impact the bottom line. Anvilogic is purpose-built to break down the security operations silos created by cloud workloads, data platforms while addressing gaps and the ever-changing threat landscape,” Kannan said.
Kannan says that Anvilogic addresses these challenges by providing users with visibility across seemingly unrelated events and complex interactions to provide enrichment and better context over data workloads and security applications, so they can quickly identify threats and “turn alerts into actions.”
A look at the SOAR, and XDR markets
Anvilogic’s TDIR platform is competing against solutions not only within the traditional Security, Orchestration, Automation Response (SOAR) market, which researchers estimate will reach a value of $3.19 billion by 2028, and the extended detection and response (XDR) market, which researchers estimate will reach $2.06 billion by 2028.
As a new detection and response solution, Anvilogic is competing against established XDR providers like Palo Alto Networks with Cortex XDR, which offers automated detection, investigation, and response capabilities. Palo Alto Networks recently announced raising $1.4 billion in revenue in the third quarter of 2022.
Another competitor is Trend Micro, with Vision One, an XDR platform with a dashboard view that provides users with a summary of detections by severity, map of MITRE ATT&CK framework techniques detected, and targeted attack indicators. Trend Micro recently announced raising $550 million in revenue in the fourth quarter of 2021.
However, Kannan says that it’s Anvilogic’s flexibility that differentiates it from other vendors. “Anvilogic offers an automated ‘bridge’ for enterprise SOCs to transform to a modern architecture that is cloud-ready,” without needing to replace every legacy practice.
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