I’m excited to share that we’ve raised $30M in Series B funding led by Sapphire Ventures. This is a significant milestone for Uptycs. Jai Das from Sapphire Ventures led the round with participation from existing investors Comcast Ventures and ForgePoint Capital. It was an oversubscribed round with no room for additional investors. This serves as a testament to our strong customer relationships, our current success as a venture, and the excitement around the space of SQL-powered security analytics.
We were connected with Sapphire Ventures early on after we initiated our fund-raising process. From the very first meeting, what differentiated Sapphire from others was their expertise and success with enterprise/B2B ventures and their approach to identifying patterns of success. Over dinner in San Francisco with my two co-founders and the Sapphire Ventures team, Jai and his team outlined their approach to investing and their enthusiasm for Uptycs based on patterns of success witnessed over the years. Mike, Uma, and I left that dinner convinced Sapphire Ventures would be a great partner. We went from term-sheet to closing in three weeks.
Next, I’d like to share thoughts on the value that the Uptycs team has built toward fulfilling our mission: Security Analytics for Everyone. It is a bold mission as cyber security is an incredibly noisy domain. There are many vendors that are providing a litany of solutions. However, the problem of observing and securing diverse computing environments at scale persists. The question for Uptycs is how can we make a difference? Since our inception, as a team we’ve been driving toward the following:
- Open source agents, inspired by the universality of Chrome and Firefox browsers
- SQL-powered, inspired by the platform-driven success of Salesforce and SAP
- Structured data from source, to data lake, to analysis, inspired by the desire to provide accelerated time to insight and to optimize for performance and cost
- To address the cyber security skills shortage, inspired by the challenge to empower anyone to be an analyst
I’m grateful to the Uptycs team for a singular focus to execute on the above initiatives, along with an obsession on customer success. Customer enthusiasm for our security analytics platform, relayed to us by investors during their funding due diligence, was incredibly gratifying to hear.
Jai highlighted this enthusiasm in his post announcing the funding round:
“Uptycs is growing in popularity among enterprises because its SQL-based platform makes it easy and accessible for someone with the ability to write SQL code to easily become a security analyst. Having seen the adoption of SQL-based analytics tools like Looker, a previous Sapphire Ventures investment, we believe that Uptycs is on the right path to democratize the market for security analysts, making it much more accessible.”
Finally, I’d like to thank our customers; without you we would not have made it this far. Your partnership and faith in our abilities have driven our success to date. Many of you in the community participated and shared your experiences at our first conference: osquery@scale. I am grateful that you’ve chosen to partner with us.