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Awake Security Bags USD 36 Million in Series C Round of Financing

By CIOReview | Friday, April 17, 2020

The new round of funding takes the company's total raised capital to USD 80 million. The finance will be used to propel expansion in areas including R&D, sales, and marketing to meet the growing demand for the company's advanced network traffic analysis platform

Fremont, CA: Advanced network traffic analysis company Awake Security raised USD 36 million in a Series C financing round led by Evolution Equity Partners, with participation from Energize Ventures and Liberty Global Ventures, as well as existing investors Bain Capital Ventures and Greylock Partners. As part of the deal, Karthik Subramanian, partner and Evolution Equity, joined Asheem Chandna, Enrique Salem, and Kevin Mandia on the company's board of directors. Awake Security is the only advanced network traffic analysis company that delivers answers and not alerts.

"Awake has assembled the best minds in networking, machine learning, data science, cybersecurity, and other disciplines to create something entirely new that fills a massive void in the security market," said Rahul Kashyap, CEO of Awake Security. "By partnering with Evolution Equity with its deep U.S. and European network and cybersecurity expertise, and strategic investors Energize Ventures and Liberty Global, we're building on that momentum to bring the Awake platform to even more organizations around the globe."

The new round of funding takes the company's total raised capital to USD 80 million. The finance will be used to propel expansion in areas including R&D, sales, and marketing to meet the growing demand for the company's advanced network traffic analysis platform. Companies today are facing sophisticated cyber-attacks from internal and external factors that blend with regular activity. The Awake platform has become a trusted and proven solution to quickly find and remediate these threats that would otherwise go undetected by traditional security solutions.

"The new network - from the data center to cloud workloads, IoT, and SaaS applications - is fundamental to the business success of organizations, especially as more and more of the workforce becomes distributed. Security solutions have just not been adequate at enabling this transformation - until Awake," said Subramanian, whose experience includes years leading Cisco's cybersecurity acquisition and investment team, where he assembled an extensive cybersecurity portfolio before joining Evolution Equity. "We invested in Awake because we recognize its unique ability to help organizations fight modern threats. The traction and the third-party recognition Awake has received combined with our resources in and knowledge of the U.S. and European markets only bolsters our conviction," continued Subramanian.

See also: Top Cyber Security Companies