Demisto, which helps automate Security Operations Centers (SOC), announced today that is has raised $20 million in new funding.
The Cupertino, Calif.-based startup has developed DBot, a chatbot that automates a security analyst’s simple tasks and facilitates collaborations across different teams in real time for better management and response to attacks. The software can run on its own but can also be integrated into other services – users can use the Slack interface to chat with the bot, for example.
“Automation is the key to running a more efficient and reliable security center,” cofounder Rishi Bhargava said in an interview with VentureBeat. “With DBot, teams in the same chatroom can communicate across geographies, which is necessary for teams who hire remote analysts because they can’t find talent nearby.”
The startup claims to have customers in numerous vertical industries like healthcare, financial services, and gaming. One customer that the startup agreed to disclose is mapping software company Esri. Demisto charges for the base platform and per analyst seat on an annual basis. It counts IBM and ServiceNow as competitors.
In addition to announcing the funding, Demisto is launching today version 2.0 of its software, which offers an integrated threat intelligence system, as well as the automation and collaboration capabilities of its first product.
ClearSky led the round, and its managing director, Jay Leek, will be joining Demisto’s board of directors. Accel and the Slack Fund also participated, raising Demisto’s total funding to $26 million. The new funds will be used to expand operations, accelerate product innovation, and ramp up sales and marketing.
Founded in 2015, Demisto currently has close to 30 employees.
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