I am very excited to announce that we closed our $68.5M Series D financing round last month, bringing our total funding to $121.5M. We look forward to partnering with our new investors, Insight Venture Partners, who led this round alongside existing investors, Bain Capital Ventures, and Accel. Our mission is to enable enterprises to run reliable and secure containers and microservices. This funding will enable us to further extend our technology differentiation, accelerate our pace of customer acquisition, and drive deeper adoption within our installed base.
We at Sysdig are maniacally focused on what we see as the most exciting and significant transformation in IT today – cloud applications that are built and delivered as containerized microservices. The move to containers and microservices delivers unmatched speed, efficiency, and flexibility compared to traditional software architectures. Consequently, while this transformation has just begun, the pace at which companies are embracing containers is clearly accelerating. We see this within our customer base that has grown to hundreds of enterprises, and tens of millions of containers that we monitor and secure every single day.
Even as the benefits are compelling, there are significant barriers to operating containers in production. Some very real, day-to-day issues that our customers have to address include:
- How do we gain visibility into immutable containers when we can no longer have agents within containers? How do we detect security breaches within containers?
- How do we programmatically ensure that images running across thousands of containers are always free of vulnerabilities? When we do have a vulnerability, can we quickly assess which of hundreds of services may be impacted?
- In a complex mesh of thousands of containers and hundreds of services, how do we enact rules around which containers should be allowed to communicate with which other containers?
- How do we prevent a security breach within one container from spreading to other containers in a cluster?
- Given the ephemeral nature of containers, how do we detect when a container may have had a lifespan of only seconds within which it might have exfiltrated data? If a breach has already occurred, how do we go back to conduct forensics on a container that no longer exists?
While we could go on listing numerous issues, what is clear is that containers require completely rethinking existing approaches for monitoring, troubleshooting, securing, and investigating security breaches. With the industry’s first unified container security and monitoring approach, Sysdig’s Cloud-Native Intelligence Platform addresses precisely that need.
The best validation of our approach comes from customer adoption of our products. We have individual customers monitoring millions of containers using our technology. We have customers handling daily transaction volumes of hundreds of millions of dollars, relying on our technology to ensure PCI compliance. For example, a large government agency with a crime prevention mandate leverages our run-time detection capabilities to protect applications dispersed across the nation.
The strong value proposition of our technology has translated into strong momentum and rapid growth over the last year. Sysdig’s open source forensics technology, sysdig, and our open source run-time security project, Sysdig Falco, have a community of millions of users. Our commercial customer base has grown to hundreds of enterprises, including many of the world’s largest financial institutions, media companies, cable companies, technology companies, and government organizations.
Just as significant as the customer community we are building, we are assembling a rapidly growing, passionate, and talented team that is excited to be at the forefront of a major technology shift in how software will be built and operated.
We have three investment priorities as we look to leverage our series D funding round. First, to invest aggressively in our technology platform as we look to extend our leadership in container security and monitoring. Second, to invest aggressively in our sales, marketing, and customer success initiatives as we look to build a thriving community of happy customers and users. Third, to continue expanding our team of talented employees that are passionate about enabling our customers to run reliable and secure containers and microservices.
We see a future where all software is delivered as reliable, secure containerized services and we are excited to help shape that future. If you share our excitement, we invite you to learn more at sysdig.com