Arctic Wolf announced Tuesday it completed a $150 million Series F round of funding that values the company at $4.3 billion.
The round was led by Greenwich, Connecticut-based Viking Global Investors, Owl Rock, a division of New York, N.Y-based Blue Owl Capital and other existing investors. Some of the company's existing investors include New York, N.Y.-based Blue Cloud Ventures and Palo Alto, Calif.-based Stereo Capital.
Less than one year ago, the Eden Prairie-based cybersecurity firm was valued at $1.3 billion following a $200 million round funding.
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Arctic Wolf's employee count doubled in the last year to 1,000 — 300 of them at its Eden Prairie headquarters — as the company capitalized on companies looking to tighten up their networks as millions of employees logged in remotely from their home offices.
The company also said revenue doubled, but didn't disclose figures, In 2019 sales were growing fast enough to make Deloitte's list of fastest-growing tech companies.
“Since the founding of the company, we believed that the security operations market is ripe for disruption as existing solutions were failing customers and not keeping pace with the increased sophistication of cyber attacks,” said CEO Brian NeSmith. “The valuation we received during this funding round is not only a testament to our enormous success in establishing Arctic Wolf as the leader in security operations but also speaks to the explosive global demand we are seeing from organizations looking to protect their hybrid work environments, drive secure cloud adoption, and formulate an actionable strategy to end cyber risk."
