MENLO PARK, Calif.–(BUSINESS WIRE)–AirMDR, an innovation driver in AI-powered Autonomous Managed Detection and Response (MDR), today announced the closing of a $5 million Seed round of financing. The round was led by Foundation Capital with participation by Storm Ventures. AirMDR will use this funding to expand R&D and fuel market entry.
Driven by a reliance on human resources and disparate systems, cybersecurity practitioners and traditional MDRs experience gaps in the quality and speed in which security alerts are managed, triaged and remediated. Concurrently, most SMBs do not have the in-house security expertise and bandwidth to monitor, detect, and respond to the volume of alerts they are receiving. AirMDR shifts the paradigm by using powerful AI virtual analysts to do 80-90% of the triage, investigation, and response typically done by human analysts today.
“Cybersecurity threats are now the biggest concern for SMBs. Despite this, there is a significant talent shortage in cybersecurity and half of SMBs don’t have the skills to respond to and recover from cyberattacks,” said Sid Trivedi, Partner, Foundation Capital. “An AI-powered MDR has the potential to bring an effective and affordable platform to enterprises of all sizes, especially SMBs. AirMDR CEO Kumar Saurabh has spent the last two decades founding and building category-defining companies that have changed the SOC tooling landscape—Sumo Logic, ArcSight and LogicHub. We are excited to work with him and the team to leverage the power of LLMs to reduce the cyber inequity gap.”
Today, MDR is a $3B market with 30% of organizations actively using remote threat detection and containment capabilities delivered by MDR providers (per Gartner), but within the next year, this number is expected to double to 60%, making MDR one of the fastest growing segments in cybersecurity.
“Running a SOC internally can cost well over a million dollars a year, which is unattainable for many companies. With the recent advances in AI, combined with the leverage that automation provides, it is possible to reduce the cost of automation by 10-20x while making it easier to build, use and adapt,” said Ed Amoroso, Tag Cyber. “Leveraging virtual analysts like AirMDR’s that can outperform 80% of security analysts at detection and response leads to better investigations, faster and enhanced triage of alerts and improved threat posture.”
AirMDR’s virtual analysts deliver on the promise of quality, speed, and affordability. They can answer questions, learn facts, and perform tasks using Natural Language Processing (NLP). Its automated playbooks for investigation, triage, response, and containment are quick to stand up and executes in under 5 minutes which takes human analysts over an hour. Incidents are all consistently documented, substantiated, and processed with full transparency for comprehensive remediation and learning. Additionally, AirMDR supports a business’s tech stack choice with more than 200+ integrations out of the box, which represents 40-50% more than typical MDR providers covers and 90% of the integrations customers will require.
“The future of MDR involves human analysts supervising and training AI, freeing up their time to tackle the critical 10% of incidents that require human intervention. We are proud to be at the forefront of this transformative shift,” said Kumar Saurabh, CEO, AirMDR.“While at the moment it is still being supervised, we see a future where AI-powered MDR works like an autonomous self-driving car.”
Timed with this investment, Foundation Capital’s Sid Trivedi joined the AirMDR board. Sid joins an exceptional team led by AirMDR CEO Kumar Saurabh.
Kumar has two decades of enterprise security and log management experience leading product development efforts at ArcSight and SumoLogic, before co-founding LogicHub to empower cyber analysts by building intelligence automation. AirMDR’s impressive executive team also includes CTO Srikant Vissamsetti, whose extensive experience building software, hardware and management products in cyber security, broadband and networking spans roles at McAfee, Attivo Networks, Inc. and SentinelOne, Chief Product Officer Anand Ramanathan who brings two decades of experience in general management and product line/technical leadership roles with growth-oriented companies and CMO Carolyn Crandall, who has contributed to some of the tech industry’s most remarkable growth stories, from the IPO journeys of Cisco and Nimble Storage, and the acquisition of Attivo Networks by SentinelOne.
About AirMDR:
AirMDR is at the cutting edge of autonomous MDR (Managed Detection and Response), enhancing cybersecurity with its AI-driven virtual analysts. This innovative technology handles 80-90% of the functions typically performed by human analysts, including triage, investigation, and response. By employing sophisticated natural language models, AirMDR provides reliable, enterprise-grade cybersecurity solutions that are affordable for small and medium-sized businesses. Backed by Foundation Capital and Storm Ventures, AirMDR is led by a seasoned team with extensive expertise in enterprise security, AI, and product development. For further details on AirMDR’s offerings, visit https://airmdr.com/.
Contacts
Danielle Dougan for AirMDR
[email protected]
978-430-9680
