Security startup Siemplify announced today that it closed a $10 million round of funding led by 83North and G20 Ventures as well as individual investors like Dave Strohm of Greylock Partners and Alex Daly, founder of security company Arcsight. This round brings the company’s total funding to $14 million since the company’s official launch in February.
Siemplify plans to use the funding to build on the growing demand for its ThreatNexus security platform among enterprise and managed security service provider (MSSP) customers.
The ThreatNexus platform operates on top of monitoring and security tools to present the data that’s more useful to its users, helping to improve incident response. The company also touts its platform being able to automate threat response by reducing the number of alerts and false positives.
Back in July, Siemplify announced an orchestration feature for ThreatNexus, allowing users to build an automated playbook of responses to network intrusions.
ThreatNexus plays on the security information and event management (SIEM) product category, which is a combination of security information management (SIM) and security event management (SEM). The main idea is that SIEM products collect data about enterprise security from multiple locations and can be seen from a single view. This makes it easier to detect trends that are potentially harmful.