TL;DR:
- Arctic Wolf, a cybersecurity leader, is set to acquire Revelstoke, specializing in SOAR technology.
- The undisclosed acquisition promises enhanced detection and response to cyber threats.
- Revelstoke’s platform offers pre-built integrations, simplified workflow configuration, and AI-driven insights.
- 30 members of Revelstoke’s team will join Arctic Wolf, including CEO Bob Kruse.
- This marks Arctic Wolf’s third strategic acquisition, following RootSecure and Tetra Defense.
- Arctic Wolf, valued at $4.3 billion, boasts over 2,000 employees and aims to strengthen its cybersecurity portfolio.
Main AI News:
In a significant strategic maneuver, Arctic Wolf, a prominent player in the cybersecurity arena, has unveiled its plan to acquire Revelstoke, a trailblazing company specializing in security orchestration, automation, and response (SOAR) technology. While the financial details of this acquisition remain undisclosed, the impact it promises to bring to the cybersecurity landscape is undoubtedly substantial.
The Chief Product Officer of Arctic Wolf, Dan Schiappa, emphasized that this acquisition marks a pivotal moment for the company, reinforcing its commitment to providing faster and more comprehensive responses to cybersecurity threats. Arctic Wolf’s flagship software has already established itself as a formidable force in the industry, aggregating data from endpoints, cloud environments, and networks to present a unified threat landscape. Revelstoke’s offerings are poised to seamlessly complement these capabilities.
Schiappa articulated this integration’s significance by stating, “We’re advancing our detection and response capabilities with tailored response actions at scale, while our customers will directly reap the benefits of the technology without having to purchase new modules.” Arctic Wolf’s incorporation of Revelstoke’s platform ushers in an era of turnkey SOAR outcomes, ensuring a heightened level of security preparedness for its clientele.
While the fate of Revelstoke’s team was initially uncertain, an Arctic Wolf spokesperson has since confirmed that 30 members from Revelstoke will join Arctic Wolf. Bob Kruse, Revelstoke’s Co-Founder and CEO, is set to transition into Arctic Wolf’s product-line sales team, further solidifying the collaboration.
Revelstoke, founded in 2020 and headquartered in San Jose, California, has been a driving force in automating various security processes. Their platform features pre-built integrations and a comprehensive library of response playbooks. Notably, the drag-and-drop playbook builder empowers customers to configure workflows with minimal coding requirements, while a robust reporting capability quantifies the business impact of the security team’s efforts.
Revelstoke’s innovative approach also hinges on a “unified data layer,” facilitating seamless connections between IT and cybersecurity applications and technologies for automation and orchestration purposes. Incorporating AI and large language models, akin to OpenAI’s ChatGPT, into its core platform, Revelstoke simplifies the process of building response playbooks, streamlining cybersecurity operations.
Before its acquisition by Arctic Wolf, Revelstoke had garnered $38 million in investments from notable backers such as SYN Ventures, ClearSky Security, Rally Ventures, and Crosslink Capital.
Bob Kruse, Co-Founder and CEO of Revelstoke, expressed enthusiasm about the merger, stating, “Security operations is the next market-changing category with Arctic Wolf leading the charge in delivering an industry-defining cybersecurity platform for businesses of every size.” Kruse emphasized how Revelstoke’s cutting-edge SOAR technology perfectly complements Arctic Wolf’s portfolio, poised to make a substantial difference for customers worldwide.
Arctic Wolf, headquartered in Minnesota and founded in 2012, has been on an acquisition spree. Revelstoke marks its third acquisition following the purchases of RootSecure, a cybersecurity vulnerability assessment toolkit, and Tetra Defense, a ransomware stress test vendor. With a workforce exceeding 2,000 employees, Arctic Wolf was last valued at $4.3 billion. The company’s rapid growth earned it a place on Deloitte’s list of the fastest-growing 500 companies in both 2019 and 2020.
Although Arctic Wolf’s CEO, Nick Schneider, previously hinted at an IPO in 2022, recent market dynamics have led to a reconsideration of those plans. Nevertheless, Arctic Wolf remains in a strong position with $499 million in venture capital, over 3,000 global customers, and an estimated annual recurring revenue exceeding $200 million. Schneider’s commitment to mergers and acquisitions, as evidenced by the Revelstoke acquisition, underscores the company’s dedication to staying at the forefront of the cybersecurity industry.
Conclusion:
Arctic Wolf’s acquisition of Revelstoke signifies a bold move in the cybersecurity market. By integrating Revelstoke’s advanced SOAR technology, Arctic Wolf is poised to deliver faster and more comprehensive cybersecurity solutions to businesses of all sizes. This strategic acquisition reflects Arctic Wolf’s commitment to innovation and positions the company as a formidable force in the ever-evolving cybersecurity landscape.
