Anvilogic, the industry's first multi-data platform SIEM, today announced the close of a $45 million Series C funding round, bringing its total funding to date to $85 million since its founding in 2019. The round was led by Evolution Equity Partners, with participation from existing investors Foundation Capital, Cervin Ventures, Myriad Ventures, Point72 Ventures, Outpost Ventures, Stepstone Group, and G Squared. Capitalizing on its strong market traction, Anvilogic will use the funding to expand its generative AI features for additional use cases across the entire Security Operations Center (SOC) lifecycle and scale up its go-to-market efforts.

"Anvilogic's solution helps security teams reduce risk while cutting SIEM costs. Its innovative multi-data platform approach is a game changer for SOCs that want to adopt a modern security analytics platform that scales across diverse data lakes and without having to rip-and-replace their monolithic SIEM," said Karthik Subramanian, General Partner, Evolution Equity Partners. "The team, technology, continued explosion of data, particularly from the adoption of AI, and the significant value delivered to customers made it an easy decision for us to invest. We're excited to support the journey and unique vision."

Often, only half of security-relevant data gets sent to a traditional SIEM due to the high cost. Data that does not get sent to the SIEM is unavailable for threat detection, which causes risk to the business. This leaves security operations teams struggling to detect high-risk threats in their environment while simultaneously managing spiraling SIEM licensing costs. As enterprises shift more workloads to the cloud, where infrastructure requires massive scalability and data storage, this compounds the issue.

Further, the rapid adoption of cloud apps and services makes cloud threat detection a challenge for legacy SIEMs, who cannot often correlate detections across multi-cloud and on-prem environments. Adopting a more scalable data platform, like Snowflake, is up to 80% more cost-effective and could address these challenges. However, ripping and replacing the organization's longtime SIEM is unrealistic for many security teams.

"We're in an era where data is the new oil. We're generating it at an unprecedented rate, and, consequently, the cost pressure on our Security Information and Event Management (SIEM) systems is increasing exponentially," said Roland Costea, CISO, Enterprise Cloud Services at SAP. "This is the dawn of a new SIEM era where cost-effective, scalable data lakes are the nerve centers of our security architecture. An era where we run security analytics on top of our data where it resides. Anvilogic has been instrumental in automating our security operations and providing this multi-data platform SIEM experience for our analysts."

Building on its predictive AI capabilities, Anvilogic released the industry's first detection engineering copilot in March 2023, leveraging generative AI to address a wide variety of detection and investigation use cases across security data lakes. The goal was to enable enterprise SOC teams to make a smooth transition into data lake adoption with the help of use cases like log source classifiers and recommendations for detection, as well as query code generation.