Maryland-based Huntress has become the latest cybersecurity unicorn, securing $150 million in Series D funding and reaching a valuation exceeding $1.5 billion.
This new round saw participation from Kleiner Perkins, Meritech Capital, and existing investor Sapphire Ventures.
Huntress specializes in security services tailored for small businesses to mid-sized enterprises, a sector often neglected as cybersecurity service providers tend to prioritize Fortune 500 companies.
“Everyone deserves the ability to protect themselves and their employees’ livelihoods. This is the ‘why’ that motivates my team to work tirelessly and democratize access to tools and talent usually reserved for larger enterprises,” said co-founder and CEO Kyle Hanslovan in a release.
Huntress has been experiencing over 70% year-over-year revenue growth for the past two years, moving towards the milestone of $100 million in annual recurring revenue.
Founded in 2015, Huntress has raised nearly $310 million to date.
Cyber funding
Huntress’ latest funding round highlights a significant trend of increased investments in the cybersecurity sector during Q2.
With a few weeks still left in the quarter, cybersecurity startups have raised $4.1 billion across 141 deals, significantly outpacing Q1’s $2.7 billion from 140 deals and greatly exceeding Q2 of last year’s $1.8 billion from 192 deals.
This year’s Q2 figures have been significantly boosted by cloud security startup Wiz, which announced in May that it had raised $1 billion at a $12 billion valuation. This round remains the largest in cybersecurity for the year.
Overall, funding for 2023 is currently ahead compared to the same period last year.
