In this technologically advanced era, new technologies, solutions, and vendors emerge every year. Despite this constant innovation, high-profile breaches are making headlines worldwide. As per a study by Juniper Research, the collective cost of data breaches will reach $5 trillion by 2024.
In response, enterprises have scrambled to build a better security posture. However, the dizzying range of options leaves resource-constrained IT and security leaders wondering how to protect organizations against cyber risk.
It’s when Arctic Wolf comes to the rescue. The company is the market leader in Security Operations. Read further to learn everything about Arctic Wolf, its founders, startup story, funding, growth, investors, products, and more.
Arctic Wolf – Company Highlights
| Company Name | Arctic Wolf Networks |
|---|---|
| Headquarters | Eden Prarie, Minnesota, United States |
| Industry | Cybersecurity |
| Founder | Brian NeSmith, Kim Tremblay |
| Founded | 2012 |
| Valuation | $4.3 billion |
| Website | arcticwolf.com |
Arctic Wolf – About
Arctic Wolf – Industry
Arctic Wolf – Founders and Team
Arctic Wolf – Startup Story
Arctic Wolf – Mission and Vision
Arctic Wolf – Business Model
Arctic Wolf – Products and Services
Arctic Wolf – Funding and Investors
Arctic Wolf – Mergers and Acquisitions
Arctic Wolf – Growth
Arctic Wolf – Partners
Arctic Wolf – Awards and Achievements
Arctic Wolf – Competitors
Arctic Wolf – Future Plan
Arctic Wolf – About
Arctic Wolf is a cybersecurity organization that enables customers to manage their cyber risk. The company provides security monitoring to detect and respond to cyber threats faced by businesses in the face of modern cyberattacks.
The Arctic Wolf Platform monitors on-premises computers, networks, and cloud-based information assets to discover malicious activity like ransomware, malicious software attacks, and cybercrime. Spanning thousands of installations, the company serves over 3,000 large and small enterprises and processes 190 billion+ security events every day.
Arctic Wolf – Industry
The cybersecurity industry is flourishing with incredible growth and boundless opportunities. In an increasingly interconnected world, protection from cyber threats has become more crucial than ever. According to MarketsandMarkets, the global cybersecurity market, valued at $173.5 billion in 2022, is projected to reach $266.2 billion by 2027, growing at a CAGR of 8.9%. This rapid expansion highlights the industry’s vital role in combating the ever-changing landscape of cyber threats faced by individuals, businesses, and governments worldwide.
Arctic Wolf – Founders and Team
Arctic Wolf was founded by Brian NeSmith and Kim Tremblay in 2012.
Brian NeSmith
Brian NeSmith attended the Massachusetts Institute of Technology to complete a Bachelor of Science in Electrical Engineering. He has been the General Manager/Product Manager at Newbridge Networks.
In addition, he was the President and CEO of Ipsilon and Blue Coat Systems, Inc. Brian co-founded Arctic Wolf Networks and served as the company’s CEO until 2021.
Currently, he is the Executive Chairman of Arctic Wolf.
Kim Tremblay
Kim Tremblay graduated from the University of Waterloo with a B. Math, Computer Science. She has been the Project Manager at Virtek Vision International, Inc. In addition, Kim held the roles of Director of Engineering at MKS and VP of Engineering at Blue Coat Systems, Inc. She co-founded Arctic Wolf Networks and served as the company’s SVP of Strategy until 2020.
Nick Schneider
Nick graduated from Duke University with a degree in Public Policy and Economics. Before joining Arctic Wolf, he worked as District Manager at Compellent Technologies, Inc. (acquired by Dell), as Sales Manager at Dell, and as President of Sales at Code42.
Currently, Nick Schneider leads Arctic Wolf as its President and Chief Executive Officer.
The company is a team of more than 2,000 employees.
Arctic Wolf – Startup Story
Arctic Wolf Networks was established in 2011 by network security veterans Brian NeSmith and Kim Tremblay. They both realized the need to address the most critical challenge in security in this modern world, i.e., providing enterprise-class security to companies that typically are not equipped with the security expertise, time, and resources to manage the complicated ecosystem effectively and to protect their networks and sensitive data.
The company initially built its solutions to target middle-sized companies that don’t have the budget to staff dedicated security teams. But in subsequent years, Arctic Wolf started pitching its products and solutions in larger enterprise markets.
Arctic Wolf expanded to Toronto and San Antonio in 2020. It launched Artic Wolf Labs and opened its new EMEA (Europe, the Middle East, and Africa) headquarters in New Castle in 2022. And months later, the company expanded its presence to New Zealand. Australia, and South Africa. Furthermore, it launched Cyber JumpStart and OEM Solutions in 2023.
Arctic Wolf – Mission and Vision
Arctic Wolf’s mission is to end cyber risk through effective security operations. Its vision is to create a future without cyber risk. Each company should be effective enough at security operations that the likelihood and impact of a cyber attack are reduced to the point where the cyber risk is essentially zero.
Arctic Wolf – Business Model
Arctic Wolf takes the operational approach to cybersecurity. The Arctic Wolf platform is built on an open XDR architecture, and it combines with the company’s Concierge Security Model to work as an extension of the client’s team.
This platform monitors, detects, and responds to security threats 24/7. Moreover, Arctic Wolf provides ongoing risk management and security awareness training to proactively protect the company’s environment while strengthening its security posture.
Shruti Kasera
Arctic Wolf – Products and Services
The Arctic Wolf platform offers several solutions, including Managed Detection and Response, Cloud Detection and Response, Managed Risk, Managed Security Awareness, Cloud Security Posture Management (CSPM), and Incident Response.
Arctic Wolf – Funding and Investors
Arctic Wolf has undertaken 9 funding rounds and raised $899.2 million. Its latest funding round – Convertible Note Round, was conducted on October 6, 2022, and raised $401 million. 17 investors fund the company, of which 8 are lead ones, including Neuberger Berman Group, Ontario Teachers’ Pension Plan, Viking Global Investors, Owl Rock Capital, and more.
| Date | Round | Number of Investors | Money Raised | Lead Investor |
|---|---|---|---|---|
| October 6, 2022 | Convertible Note | 4 | $401 million | Owl Rock Capital |
| January 6, 2022 | Secondary Market | 1 | – | – |
| July 13, 2021 | Series F | 2 | $150 million | Owl Rock Capital, Viking Global Investors |
| October 22, 2020 | Series E | 2 | $200 million | Viking Global Investors |
| March 11, 2020 | Series D | 5 | $60 million | Blue Cloud Ventures, Stereo Capital |
| October 25, 2018 | Series C | 6 | $45 million | Future Fund |
| January 10, 2018 | Series B | 4 | $16 million | Bright Pixel (former Sonae IM) |
| December 12, 2012 | Series B | 2 | $20 million | Lightspeed Venture Partners, Redpoint |
| May 1, 2012 | Series A | 2 | $7.2 million | Lightspeed Venture Partners, Redpoint |
Arctic Wolf – Mergers and Acquisitions
Arctic Wolf has acquired 4 companies:
| Acquiree Name | Announced Date |
|---|---|
| Tetra Defense | February 1, 2022 |
| Habitu8 | September 30, 2021 |
| RANK Software | September 8, 2020 |
| RootSecure | December 12, 2018 |
Arctic Wolf – Growth
Arctic Wolf has experienced remarkable growth and success in recent years. In July 2021, the company achieved a valuation of $4.3 billion following a $150 million funding round. In September 2021, Arctic Wolf reported $200 million in annual recurring revenue over the preceding 12-month period. Moreover, the company’s employee count has significantly increased, growing from 1,200 to 1,500 and currently surpassing 2,000, representing a growth percentage of around 35%.
Arctic Wolf – Partners
Arctic Wolf has partnered with 19 companies, of which 13 are technology partners and 6 are channel partners. Some of the company’s partners are as follows:
- SHI International Corporation
- Wolverhampton Wanderers
- AWS
- DextraData
- Mimecast
- SentinelOne
- InterVision
- Scantron
Arctic Wolf – Awards and Achievements
Arctic Wolf has been named in the following:
- SE Labs Award for Network Detection and Response Capabilities in 2023
- Forbes Cloud 100 list in 2022
- Fortune Best Medium Workplaces list in 2022
- 2022 CNBC Disruptor 50 list
- Fast Company’s 50 Most Innovative Companies list
Moreover, the company has been recognized by Great Place to Work Canada as the 2021 Top Workplace in Ontario and Best Workplace for Mental Wellness and Inclusion.
Arctic Wolf – Competitors
Here are some of the main competitors of Arctic Wolf:
- Alert Logic MDR
- CrowdStrike
- Sophos
- Secureworks
- AaDya Security
- BlueVoyant
Alan Joseph
Arctic Wolf – Future Plans
Arctic Wolf plans to have new partner program benefits in 2024 to help its partners create more demand and help the company grow together.
FAQs
What does Arctic Wolf do?
Arctic Wolf is a cybersecurity organization that enables customers to manage their cyber risk. It provides security monitoring to detect and respond to cyber threats faced by businesses in the face of modern cyberattacks.
When was Arctic Wolf established?
Arctic Wolf, the cybersecurity company was established in 2012.
Who is the CEO of Arctic Wolf?
Nick Schneider is the President and CEO of Arctic Wolf.
Who are the competitors of Arctic Wolf?
Some of the main competitors of Arctic Wolf are:
- Alert Logic MDR
- CrowdStrike
- Sophos
- Secureworks
- AaDya Security
- BlueVoyant