PALO ALTO, CA, Phantom announced it has raised $13.5 million in Series B funding.
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Phantom, the first company to provide a community-powered security automation and orchestration platform, announced it has raised $13.5 million in Series B funding to accelerate growth in sales, marketing, and engineering. The latest round brings Phantom's total funding to more than $23 million and is led by Kleiner Perkins. Existing investors TechOperators Venture Capital, Blackstone (NYSE: BX), Foundation Capital, In-Q-Tel, Rein Capital, Zach Nelson, and John W. Thompson also participated in the round.
'Security teams are suffocating from the growing volume and velocity of security alerts,' said Ted Schlein, general partner, Kleiner Perkins. 'Lack of integration between point products and a shortage of skilled security professionals only exacerbate the problem and makes it all but impossible to respond. Most enterprises are looking at security automation and orchestration to address these challenges. Phantom's open and extensible platform is the clear leader in this emerging market.'
'We are extremely excited to partner with Kleiner Perkins,' said Oliver Friedrichs, Founder & CEO of Phantom. 'Ted Schlein has been a force of nature in the security industry and has helped to build great companies such as Mandiant, ArcSight, Internet Security Systems, Lifelock, Carbon Black and Fortify.'
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The Phantom platform automates and orchestrates security operations enabling analysts to achieve in seconds what may normally take hours or days to accomplish manually. Phantom Apps drive this by acting as the connective tissue to integrate the dozens of discrete point products that enterprises have deployed to secure their environment.
Phantom recently reached an important milestone in surpassing 100 Apps, or distinct product integrations, supporting almost every category of security technology: reputation services, endpoint technologies, sandboxes, firewalls, and common mobile, virtual and cloud-based security solutions. With the largest number of apps in the industry, Phantom customers can automate nearly any security use case including investigation, hunting, enrichment, containment, resilient regeneration, patch & vulnerability management, and more.
Phantom's community-powered approach was critical to reaching this milestone as it enables apps to be developed or extended by anyone and shared with other users; more than 25% of Phantom Apps now come from partners, customers, and the community at large.
'By providing an open platform we've given people building blocks to automate an almost infinite number of security use cases,' said Friedrichs. 'We're seeing creative Apps that connect services and technologies we had never considered. Engineers in the world's largest commercial enterprises and government agencies use our platform and extend it to solve some very complex problems.'
Phantom Apps are available for a wide range of industry-leading security technologies from partners including Cisco, McAfee, Palo Alto Networks, RSA Security, Symantec, Splunk, HPE, IBM and many others. In cases where a Phantom App is not yet available, the community-powered approach supports rapid development and sharing.
Phantom, which was recognized as the most innovative company at the 2016 RSA Conference, automates and orchestrates key stages of security operations from prevention to triage and resolution; delivering dramatic increases in productivity and effectiveness. Ranging from simple automation to fully autonomous response, Phantom lets you choose the best balance that fits your organization's needs while increasing security and accelerating security operations. Focused on closing the security skills gap by enabling enterprise security operations to be smarter, faster and stronger; Phantom provides the flexibility to connect in-house and third-party systems into one open, integrated, and extensible platform. Phantom was founded by enterprise security veterans Oliver Friedrichs and Sourabh Satish who have helped propel companies like Symantec, Sourcefire, Cisco and others to success. For more information visit: www.phantom.us and follow us @TryPhantom.
About Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build and accelerate growth at pioneering companies like Alphabet, Amazon, Flexus Biosciences, Nest, Slack, Snap Inc., and Uber. KPCB offers entrepreneurs years of operating experience, puts them at the center of an influential network, and accelerates their companies from success to significance. For more information, visit http://www.kpcb.com and follow us @kpcb.