Arctic Wolf, an Eden Prairie, MN–based security operations company, raised $200m in Series E funding at a valuation of $1.3 billion.
The round was led by Viking Global Investors, with participation from DTCP and existing investors.
The company intends to use the funds to accelerate the introduction of new security operations offerings, address new markets, and further expand its leadership position in the security operations and managed detection and response (MDR) markets.
Led by Brian NeSmith, CEO and Co-Founder, and Nick Schneider, Chief Revenue Officer, Arctic Wolf provides security operations as a concierge service via Arctic Wolf Concierge Security® experts, who act as an extension of an organization’s internal team, providing tailored threat detection and response, as well as ongoing risk management to keep their valuable business data safe.
The company’s primary security operations offering is Arctic Wolf Managed Detection and Response, a solution that enables organizations to detect, respond, and recover from advanced cyber threats.
Alongside the new round of funding, Arctic Wolf is relocating its global headquarters from California to Eden Prairie, Minnesota. Over the last four years, the company’s office in Minnesota has been at the center of its corporate growth strategy, with the team in Eden Prairie growing to over 200 employees. Using the Series E funding, Arctic Wolf plans to make significant investments in its new headquarters by the end of 2021 with the addition over 150 new jobs and the construction of the company’s third security operations center (SOC).