On Thursday, San Francisco’s Corelight, which has developed the first-ever open source network detection and response (NDR) platform for energy, utility and industrial cybersecurity, announced that it has successfully raised a Series D round of $75 million. The new round brings Corelight’s total capital raised to $160 million.
The round was led by $2 billion energy venture capital fund Energy Impact Partners (EIP), joined by existing investors Accel, General Catalyst, Insight Partners, and Osage University Partners. H.I.G. Growth Partners, the venture arm of alternative investments fund H.I.G. Capital came aboard as a new investor. The round also included strategic investments from Capital One Ventures, cybersecurity focused VC CrowdStrike Falcon Fund, and Gaingels, a VC fund that backs LGBTQ+ founded and managed funds.
Corelight says it will use the capital to accelerate its global market presence and develop new data and cloud offerings. Its NDR platform, which is based on 20-plus years of open source development and “community-driven insight,” currently serves several of the world’s largest financial institutions, critical infrastructure providers, government agencies, and other industry verticals.
“This latest investment is a powerful affirmation not only of the network detection and response category, but also of our open source heritage, data-centric approach, and commitment to customer success,” said Corelight CEO Brian Dye. “I am grateful for our investors’ partnership as we help organizations around the world move to a data-driven security strategy.”
Dye also pointed to his company’s natural alignment with EIP’s mission-driven focus on critical infrastructure security.
“Helping these institutions defend against increasingly sophisticated attackers is essential given their role in society and the economy,” he said.
Also noteworthy in the Series D round is the participation of Gaingels, an investment syndicate that supports and represents the LGBTQ+ community and allies in the venture capital space. Gaingels invests in companies with LGBTQ+ founders and C-suite leaders at all stages of growth, as well as in other high-growth companies resolved on building more inclusive teams.
“As the largest investor network focused on supporting and investing in the best venture-backed companies that embrace and value diverse leadership, including LGBTQ+, Gaingels is proud to be participating in this financing round with Corelight,” Gaingels Managing Director Lorenzo Thione said.
Earlier this week, Corelight announced that it has been named a vendor on the U.S. Department of Defense (DoD) ten-year Enterprise Software Initiative blanket purchase agreement (BPA) awarded to IT services provider Carahsoft. Under the agreement, Carahsoft will provide asset management and cybersecurity software, software maintenance support, information technology professional services and training from Corelight to the DoD, U.S. intelligence community and Coast Guard.
