Ellicott City-based Huntress, a Software-as-a-Solution-based managed detection and response (MDR) provider for managed service providers (MSPs) and value-added resellers (VARs), announced an $18 million Series A investment round led by ForgePoint Capital.
This funding allows Huntress to accelerate product engineering and development, as well as expand to additional market segments and geographies. In addition, remaining independent enables Huntress to stay committed to channel partners.
This investment round follows rapid customer growth for Huntress, which now protects more than 1,000 MSP partners, further validating the need for advanced MDR solutions that are effective and affordable. According to the 2019 Verizon Data Breach Detection Report, 43 percent of all cyberattacks were targeted at small businesses. These businesses are under attack just as much as large enterprises, but often lack the resources for extensive threat protection. Huntress will continue to focus on this traditionally underserved market, offering its detection and response services as well as expanding its platform to include recovery.
“Many of these cyberattacks have grown in sophistication and SMBs are demanding advanced capabilities from their IT and security providers to defend themselves,” says Ernie Bio, vice president at ForgePoint Capital.