Abstract Security Secures $15 Million in Oversubscribed Series A Funding to Transform Security Operations

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Oct 28, 2024, 08:00 ET

New Funding Highlights Abstract's Leadership in Building the Security Operations Platform of the Future

PALO ALTO, Calif., Oct. 28, 2024 /PRNewswire/ -- Abstract Security, a pioneer in security data fabric and analytics, announced today that it has closed an oversubscribed Series A funding round, raising $15 million. The round was led by Munich Re Ventures with super pro rata participation from existing investors Crosslink Capital and Rally Ventures.

Abstract Security is redefining enterprise security operations by enhancing cloud visibility, optimizing data streams, reducing costs, and future-proofing SIEM strategies. By eliminating complexity, improving data routing, and delivering advanced data management, Abstract enables organizations to achieve faster, more effective threat detection and response through its comprehensive data fabric, analytics, and data lake offerings. This latest round of funding will accelerate Abstract's mission to revolutionize the security analytics and data fabric markets, empowering customers to take control of their security data and gain unparalleled visibility across their environments.

Abstract customers can seamlessly integrate their own security data with threat intel and other data sources through the Abstract Intelligence Gallery market place, which features over 100 integrations with industry-leading vendors such as CrowdStrike, Cybersixgill, Cyware, Flashpoint, Google Mandiant, SecLytics, and Silent Push. This comprehensive ecosystem enables customers to blend their unique security data with valuable threat intelligence and insights, significantly enhancing their overall security posture and enabling more informed decision-making.

"Munich Re Ventures is proud to lead this Series A and support Abstract Security's journey to reshape security operations," said Blake Pennington, Principal at Munich Re Ventures. "Abstract's innovative platform is not just keeping pace with the evolving security landscape; it is setting a high standard in security data fabric and analytics, driving SIEM capabilities far beyond what traditional solutions offer. Colby and his team have built an exceptional organization, equipped with the industry expertise necessary to serve customers with a solution that's unmatched in the market."

Today, the majority of security data collected is not actionable or relevant for security teams, and with cyber adversaries averaging just 62 minutes to breach an organization, speed and accuracy in threat detection and response are critical. Abstract's platform delivers analytics that quickly correlates data and delivers actionable insights at the business level, ensuring security teams can focus on what matters most.

"We are doubling down on our investment with Abstract Security with our Series A commitment," said Matt Bigge, partner at Crosslink Capital. "As an investor since inception, we saw the focus on execution over the past two years, and the team has proven that execution is a strength so we're excited to continue supporting the team moving forward."

"Since Abstract's inception, we have been laser-focused on linking security analytics to real business value," said Colby DeRodeff, CEO and co-founder of Abstract Security. "Our rapid customer growth is a testament to our ability to help organizations reimagine their security operations, integrating complex legacy tools and modern solutions to drive real outcomes. This new round of funding will help us continue to execute on that vision."

The Series A funding follows closely on the heels of Abstract Security's successful seed round of $8.5 million, announced in March of this year. With this new infusion of capital, Abstract is poised to continue its growth trajectory and expand its impact on the cybersecurity industry.

About Abstract Security

Abstract Security, founded in 2023, has built a revolutionary platform equipped with an AI-powered assistant to better centralize the management of security analytics. Crafted by category creators and industry veterans known for redefining the cybersecurity landscape, Abstract transcends next-gen SIEM solutions by correlating data in real time between data streams. As a result, compliance and security data can be leveraged separately to increase detection effectiveness and lower costs – an approach that does not currently exist in the market.

The leadership team of Colby DeRodeff, Ryan Clough, Aaron Shelmire, Chris Camacho, and Stefan Zier bring a unique set of experiences and backgrounds in product development and company-building expertise, at companies such as ArcSight (acq. by HP), Mandiant (acq. by Google), Palo Alto Networks and Sumo Logic. For more information about the company, please visit https://www.abstract.security/ and follow the journey on LinkedIn and @Get_Abstracted.

Contact
Rich Mullikin
925-354-7444
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SOURCE Abstract Security Inc