Ukrainian-founded threat detection marketplace raises $11 million in the US

Last week SOC Prime, a Ukrainian-founded cybersecurity firm based in Boston, announced the completion of a $11 million Series A round. The deal involved three US-based funds:  DNX Ventures — which led the round, — Streamlined Ventures and Rembrandt Venture Partners.

SOC Prime touts itself as “the only threat detection marketplace where researchers monetize their content to help security teams defend against attacks easier, faster and more efficiently than ever.”

The marketplace is powered by a “Detection-as-Code” platform, which allows SOC Prime to curate “the most up-to-date Sigma-based threat detection content from over 300 researchers.”  

Researchers earn $700 on average as of September 2021, the startup told TechCrunch. The revenues of the best performers in the program exceed $20,000 annually.

The threat detection content is delivered to “more than 6,000 enterprises, governments and MDRs worldwide” via subscriptions to two dozens of SIEM and XDR platforms. These customers use this content to “establish basic security practices, improve threat visibility, and advance automated incident response.”

As reported by Forbes Ukraine, SOC Prime was founded in 2015 by Ukrainians Bezverkhiy, Oleksandr Bredikhin and Ruslan Mihalev. It raised some $15 million in total, if including four early rounds in 2015-2017. These involved the UAngels and syndicates as well as Latvian and UK business angels individually. 

The startup moved its headquarters to Boston in 2017 as the company became profitable. 

SOC Prime currently employs over 80 people working in Ukraine, Spain, Germany and the USA, with plans to open a representative office in Singapore. 

Topics: Cybersecurity, Finance, International, News, Startups, Venture/Private equity
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