Arctic Wolf, a prominent cybersecurity company, has announced its plan to acquire Revelstoke, a company specializing in security orchestration, automation, and response (SOAR) platforms. The purpose of this acquisition is to enhance Arctic Wolf’s platform’s capabilities in detecting and responding to cybersecurity attacks faster and more comprehensively. By incorporating Revelstoke’s technology into their platform, Arctic Wolf aims to provide customers with advanced technology and security operations expertise, making SOAR outcomes essentially turnkey. This acquisition also brings complementary offerings to Arctic Wolf’s software, allowing tailored response actions at scale without the need for customers to purchase new modules.
Benefits of the Acquisition
The acquisition of Revelstoke by Arctic Wolf brings numerous benefits to their platform. One key benefit is enhanced cybersecurity attack detection and response. By integrating Revelstoke’s technology, Arctic Wolf’s platform will be able to identify and respond to potential threats more efficiently and effectively.
Another advantage of this acquisition is the complementary nature of Revelstoke’s offerings to Arctic Wolf’s software. The two platforms work together seamlessly, making it easier for customers to implement a comprehensive cybersecurity solution without having to invest in additional modules.
Revelstoke’s platform also enables tailored response actions at scale. This means that customers can customize their security workflows and automate processes with minimal code, allowing for efficient and effective incident response.
One notable advantage for Arctic Wolf’s customers is that they won’t need to purchase new modules to benefit from Revelstoke’s technology. By incorporating Revelstoke’s platform into their existing software, Arctic Wolf ensures that their customers can take advantage of the advanced technology seamlessly.
As for the team integration, it has been confirmed that 30 members of Revelstoke’s team will be joining Arctic Wolf. Bob Kruse, Revelstoke’s co-founder and CEO, will transition into Arctic Wolf’s product-line sales team. This integration of team members with expertise in security orchestration, automation, and response will further strengthen Arctic Wolf’s capabilities and ensure a smooth transition.
Revelstoke’s Platform Features
Revelstoke’s platform offers a range of features that enhance security processes and automation. For instance, it provides pre-built integrations to automate security processes, allowing for a more efficient and streamlined approach to threat detection and response.
The platform also features a drag-and-drop playbook builder, which enables customers to create their own customizable workflows with minimal code. This empowers customers to tailor their security processes to their specific needs, increasing efficiency and accuracy.
Revelstoke’s reporting capability is another notable feature. It allows customers to quantify the business impact of their security team’s work, providing valuable insights into the effectiveness of their cybersecurity efforts.
The platform also incorporates a unified data layer for automation and orchestration, connecting various IT and cybersecurity apps and technologies seamlessly. This integration ensures smooth collaboration between different tools and enhances overall efficiency.
Additionally, Revelstoke integrates AI and language models, similar to OpenAI’s ChatGPT, into its platform. This enables quick and effective response playbook creation, further streamlining security operations.
Before the acquisition, Revelstoke had raised $38 million from investors. Some notable investors involved in Revelstoke’s funding include SYN Ventures, ClearSky Security, Rally Ventures, and Crosslink Capital. This funding has supported the development of Revelstoke’s cutting-edge SOAR technology.
Arctic Wolf’s Previous Acquisitions
The acquisition of Revelstoke is not Arctic Wolf’s first venture into acquisitions. Prior to this, Arctic Wolf acquired RootSecure, a cybersecurity vulnerability assessment toolkit, and Tetra Defense, a ransomware stress test vendor. These acquisitions have allowed Arctic Wolf to expand its capabilities and provide a comprehensive suite of cybersecurity solutions.
Arctic Wolf’s Company Profile
Founded in 2012, Arctic Wolf has grown to become one of the leading cybersecurity companies in the industry. With over 2,000 employees, the company has demonstrated remarkable growth and innovation. Arctic Wolf has been recognized as a fast-growing company and was included in Deloitte’s list of the fastest-growing 500 companies in 2019 and 2020.
Arctic Wolf has also secured significant venture capital funding, totaling $499 million. This financial backing reflects the confidence investors have in the company’s potential and its ability to deliver high-quality cybersecurity solutions.
With a strong customer base of over 3,000 customers worldwide, Arctic Wolf has established itself as a trusted provider of cybersecurity services. The company’s annual recurring revenue is estimated to be over $200 million, emphasizing its financial strength and stability.
Arctic Wolf’s IPO Plans
Arctic Wolf initially planned for an IPO in 2022, as mentioned by their CEO, Nick Schneider. However, the plans for an IPO have since changed due to the landscape for IPOs and the cybersecurity industry entering uncertain territory. While an IPO is not currently the immediate plan, Arctic Wolf remains well-positioned in the cybersecurity industry and continues to explore opportunities for growth and expansion.
Arctic Wolf’s acquisition of Revelstoke brings significant benefits to their cybersecurity platform, including enhanced attack detection and response capabilities, complementary offerings, and tailored response actions at scale. The integration of Revelstoke’s team members ensures seamless collaboration and knowledge sharing. Revelstoke’s platform features, such as automated security processes, drag-and-drop playbook builder, and intelligent reporting, further enhance Arctic Wolf’s platform.
From a financial perspective, Arctic Wolf’s previous acquisitions, strong company profile, and its venture capital funding demonstrate its stability and potential for growth. While IPO plans have been adjusted, Arctic Wolf remains committed to its mission of ending cyber risk and providing comprehensive cybersecurity solutions to its customers. With the acquisition of Revelstoke, Arctic Wolf is well-positioned to continue delivering advanced technology and expertise to the cybersecurity industry.