Phantom Announces $13.5 Million Series B Financing Led by Kleiner Perkins

Friends and Phantom Community Members –

It’s been over a year since we launched Phantom, and it’s amazing to see how it has grown.  Phantom is now trusted by the world’s largest commercial enterprises and government agencies.  While that is a big responsibility, our mission and community focus hasn’t changed and thousands of you now use or have explored our Community Edition platform.

Today I’m pleased to share the news on our $13.5M Series B investment led by Ted Schlein of Kleiner Perkins.  The full release is included below and on Business Wire.  This investment allows us to accelerate our mission and continue to make all of you Smarter, Faster, and Stronger through automation!

Join me on a webinar this Friday to learn more about our mission & strategy

With 2016 as a benchmark, the bar is set high for 2017.  We’re excited to lead the industry with the first  open, extensible, and community powered Security Automation & Orchestration platform – the heart of your next-generation SOC.

I’d like to share just a few of the accomplishments that made us proud in 2016:

Q1 2016

  • Launched the 1st version of Phantom.
  • Named most innovative company at RSA Conference 2016.
  • Published first research showing that companies routinely ignore over 75% of security alerts.

Q2 2016

  • Announced In-Q-Tel Strategic Funding Agreement.
  • Awarded $10,000 in prizes to the community in the Phantom Playbook & App Challenge.
  • Launched Phantom Community site which boasts more than 100 Apps – the most in the industry.

Q3 2016

  • Announced industry icon and former CEO of RSA, Art Coviello, as Phantom’s newest advisor.
  • Recognition by SINET16, CRN’s 10 Coolest Startups and Dark Reading’s Best of Black Hat.
  • Delivered first Coding for Security Pros course at Black Hat, awarded $2,500 for best Playbook.

Q4 2016

  • Launched Phantom 2.0 fueled by your feedback with more than 500 enhancements including a new Playbook Editor, Mission Control, and Onboarding experience.
  • Announced strategic relationship with Booz Allen Hamilton.
  • Won GSN Magazine Top Security Orchestration Solution.
  • Crossed the 100 App milestone, supporting over 100 distinct security technology integrations.

Add to that hosting twenty-three Tech Sessions, sponsoring dozens of industry events, and nearly 100 blog posts.  We couldn’t have accomplished so much without your support.  Our commitment is equally strong through investments like our free Community Edition platform and access to the growing library of Phantom Playbooks and Apps.

Thanks for your continued interest and support!.. Oliver


Phantom Announces $13.5 Million Series B Financing Led by Kleiner Perkins

Investment Fuels Continued Growth for the First Community-Powered Security Automation & Orchestration Platform

Palo Alto, Calif. — January 10, 2017 07:30 AM Eastern Time — Phantom, the first company to provide a community-powered security automation and orchestration platform, announced it has raised $13.5 million in Series B funding to accelerate growth in sales, marketing, and engineering. The latest round brings Phantom’s total funding to more than $23 million and is led by Kleiner Perkins. Existing investors TechOperators Venture Capital, Blackstone (NYSE: BX), Foundation Capital, In-Q-Tel, Rein Capital, Zach Nelson, and John W. Thompson also participated in the round.

“Security teams are suffocating from the growing volume and velocity of security alerts,” said Ted Schlein, general partner, Kleiner Perkins. “Lack of integration between point products and a shortage of skilled security professionals only exacerbates the problem and makes it all but impossible to respond. Most enterprises are looking at security automation and orchestration to address these challenges.  Phantom’s open and extensible platform is the clear leader in this emerging market.”

“We are extremely excited to partner with Kleiner Perkins,” said Oliver Friedrichs, Founder & CEO of Phantom. “Ted Schlein has been a force of nature in the security industry and has helped to build great companies such as Mandiant, ArcSight, Internet Security Systems, Lifelock, Carbon Black and Fortify.”

Join Phantom Founder & CEO, Oliver Friedrichs, to Learn More About Our Vision & Strategy

The Phantom platform automates and orchestrates security operations enabling analysts to achieve in seconds what may normally take hours or days to accomplish manually. Phantom Apps drive this by acting as the connective tissue to integrate the dozens of discrete point products that enterprises have deployed to secure their environment.

Phantom recently reached an important milestone in surpassing 100 Apps, or distinct product integrations, supporting almost every category of security technology: reputation services, endpoint technologies, sandboxes, firewalls, and common mobile, virtual and cloud-based security solutions.  With the largest number of apps in the industry, Phantom customers can automate nearly any security use case including investigation, hunting, enrichment, containment, resilient regeneration, patch & vulnerability management, and more.

Join the Phantom Community to Learn More About Security Automation & Orchestration

Phantom’s community-powered approach was critical to reaching this milestone as it enables apps to be developed or extended by anyone and shared with other users; more than 25% of Phantom Apps now come from partners, customers, and the community at large.

“By providing an open platform we’ve given people building blocks to automate an almost infinite number of security use cases,” said Friedrichs.  “We’re seeing creative Apps that connect services and technologies we had never considered. Engineers in the world’s largest commercial enterprises and government agencies use our platform and extend it to solve some very complex problems.”

Phantom Apps are available for a wide range of industry-leading security technologies from partners including Cisco, McAfee, Palo Alto Networks, RSA Security, Symantec, Splunk, HPE, IBM and many others.  In cases where a Phantom App is not yet available, the community-powered approach supports rapid development and sharing.

About Phantom

Phantom, which was recognized as the most innovative company at the 2016 RSA Conference, automates and orchestrates key stages of security operations from prevention to triage and resolution; delivering dramatic increases in productivity and effectiveness. Ranging from simple automation to fully autonomous response, Phantom lets you choose the best balance that fits your organization’s needs while increasing security and accelerating security operations. Focused on closing the security skills gap by enabling enterprise security operations to be smarter, faster and stronger; Phantom provides the flexibility to connect in-house and third-party systems into one open, integrated, and extensible platform. Phantom was founded by enterprise security veterans Oliver Friedrichs and Sourabh Satish who have helped propel companies like Symantec, Sourcefire, Cisco and others to success. For more information visit: http://www.phantom.us and follow us @TryPhantom.

About Kleiner Perkins Caufield & Byers

Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build and accelerate growth at pioneering companies like Alphabet, Amazon, Flexus Biosciences, Nest, Slack, Snap Inc., and Uber.  KPCB offers entrepreneurs years of operating experience, puts them at the center of an influential network, and accelerates their companies from success to significance. For more information, visit http://www.kpcb.com and follow us @kpcb.

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