Huntress Partners Get Expanded Platform from $40 Million in New Funding

Huntress partners will benefit from $40 million in new funding for the company to continue expanding its cybersecurity platform.

The Series B investment round was led by JMI Equity. In addition, ForgePoint Capital and Gula Tech Adventures have increased their existing investments in Huntress.

Huntress’ partners include MSPs and VARs that deliver security services to SMBs.

Huntress partners with more than 1,500 resellers, which in turn support more than 25,000 end-customer organizations.

Kyle Hanslovan is Huntress‘ co-founder and CEO.

Huntress’ Kyle Hanslovan

“Huntress will continue to focus its efforts on the attack surfaces that hackers target most frequently and successfully in SMB environments,” he said. “The company plans to enable its partners to more effectively manage preventive solutions like antivirus and firewalls, while moving beyond endpoint detection to increase visibility into network traffic and cloud-based email threats.”

The funding will enable Huntress to further its commitment to deliver security to the midmarket firms and small businesses served by MSPs and VARs, Hanslovan said.

“This means we’ll be able to continue expanding the Huntress Security Platform to meet the evolving needs of our partners, whether through development or additional acquisitions – as we recently did with Level Effect – while continuing to grow our team,” he said. “We’re planning to triple the size of our product and engineering groups. And with the help of our recent CMO hire, we’ll be delivering new security education campaigns and programs to enable the channel and drive awareness of our existing offerings.”

Small Businesses, Midmarket Firms Remain Prime Targets

Until small businesses and midmarket firms can improve their security, they’ll remain prime targets for threat actors, Hanslovan said.

“Our partners rely on us to provide the technology, human expertise, and security education and awareness they need to stay ahead of the curve, and those are all critical parts of our mission,” he said. “We saw firsthand how important this was during a hectic year. A global pandemic created workplace disruption and opened up new attack surfaces. The SolarWinds attack penetrated thousands of businesses and the Microsoft Exchange server vulnerabilities impacted even more organizations. The need for promising technology, human expertise and security enablement is both clear and critical. We believe that the best way to effectively protect these businesses is by enabling and empowering the IT channel.”

This funding comes 10 months after the launch of the Huntress security platform. It extended Huntress’ core capabilities to include ransomware detection, port scanning, antivirus management and more.

Suken Vakil is general manager at JMI Equity.

“We’re thrilled to partner with Huntress to deliver comprehensive cybersecurity services to a massive and largely underserved market of SMBs,” he said. “Their team’s commitment to protecting, educating and enabling these organizations that are being actively exploited is second to none. We’re excited to be in a position to help Huntress achieve its goals and deliver more value to its customers.”

Huntress previously secured an $18 million Series A investment round led by ForgePoint Capital in February 2020.