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Stellar Cyber, the innovator of Open XDR, has raised $38 million in an oversubscribed series B funding round led by Highland Capital Partners, with full participation from all existing investors including Valley Capital Partners, SIG, and Northern Light Venture Capital, and new strategic investor Samsung. This new round brings Stellar Cyber’s total funding to more than $68 million.
Changming Liu, CEO and cofounder of Stellar Cyber said, “Today’s complex attacks are virtually impossible to rapidly detect with the traditional approach of using siloed, stand-alone tools, and our customers are tired of spending a fortune on tool collections that fail to prevent attacks.”
Open XDR platform provides 360-degree visibility
Security analysts have full visibility across the entire attack surface through normalized and enriched data collected from multiple sources — network, cloud, endpoints, applications, logs, users, and more.
The Stellar Cyber platform ingests data from these systems to establish a comprehensive view of users, networks, applications, and resources. The platform normalizes and correlates the data, applying AI to analyze it for the real hints of an attack. It then automatically responds to those complex threats. Stellar Cyber claims that this 360-degree visibility reduces the time to detect attacks and respond from days down to real-time even for smaller security teams, giving hackers less opportunity to compromise servers and networks.
Stellar Cyber’s rapid shift to remote
Stellar Cyber’s Open XDR platform reduces the mean time to detect (MTTD) by eight times and cuts the mean time to remediate (MTTR) by 20 times. The platform is designed to work with customers’ existing EDR, SIEM, UEBA, NDR, and other solutions to preserve their investments and utilize their specific expertise in a certain portion of the attack surface or kill chain in an effort to protect customers from cyberattacks.
Caroline Rehfuss, an investor at Samsung Next, offered insight into the investment strategy: “Stellar Cyber’s Open XDR solution stands out with the most comprehensive in-house security modules at both frontend and backend, offering better integration and more effective incident correlation at a lower cost. The product has [a] natural synergy with endpoint security solutions like Samsung Knox, an enterprise-level mobile security solution. We joined a $38 million Series B funding round for Stellar Cyber because the company has demonstrated its leadership in the XDR market, and its growth potential.”
Rehfuss continued, “We were particularly impressed by Stellar Cyber’s sales growth during the COVID-19 pandemic, which was driven by the need for medium-sized businesses and [managed security service providers] MSSPs, to provide better security for a surge in remote workers. The combination of accelerated migration to the cloud and the need to provide security for remote workers increases the demand for more powerful and streamlined solutions.”
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