CardinalOps Gets Investment Boost

CardinalOps, a threat coverage optimization company, has secured $17.5 million in Series A funding led by Viola Ventures. Existing investors Battery Ventures, Glilot Capital, Symbol and security industry investors also participated in the funding round.

This brings CardinalOps’ total funding to $24 million. This latest round will fuel aggressive global expansion in go-to-market (GTM) and product innovation activities.

In addition, Phil Neray has joined the company from Microsoft as chief marketing officer and vice president of cyber defense strategy.

Founded in early 2020, CardinalOps is led by entrepreneurs whose previous companies were acquired by Palo Alto Networks, HP, Microsoft Security, IBM Security and others.

Michael Mumcuoglu is CardinalOps’ CEO and co-founder.

“Channel partners like MSSPs/MDRs play a key role in our global expansion plans,” he said. “They’re looking to scale their businesses while supporting multiple security information and event management/extended detection and response (SIEM/XDR) solutions like Splunk, Microsoft Sentinel, IBM QRadar and CrowdStrike with limited staff. Organizations aren’t getting the value they expect because configuring these solutions is still a largely manual, ad-hoc and error-prone process, which leads to risky gaps in threat coverage and unnecessary costs from more and more log sources being ingested without actually contributing to detecting threats. So we’re seeing market traction from MSSPs/MDRs and other cybersecurity solution providers looking to optimize their customers’ SIEM/XDR deployments with automated, AI-driven recommendations from our cloud-based platform.”