BlueVoyant

BlueVoyant offers a Managed Detection and Response (MDR) service, offering 24/7 threat monitoring detection and response for endpoints and Microsoft Azure deployments. The company also provides other professional services such as security assessments, penetration testing, and web application security. As of July 2020, BlueVoyant generated more than 50% of its business from clients in the US and had plans to further expand into Latin America, Europe, and Asia. During the first half of 2020, the company recorded revenue growth of 210%. As of March 2021, the company served more than 500 companies globally and had offices in the US, Canada, South America, the UK, Europe, Israel, and the Philippines, collectively employing more than 560 staff, as of February 2022.

In 2021, BlueVoyant reported triple-digit growth, an 80% increase in customer count to more than 700 (299 added in 2021), and expanded into more than 10 countries (totally 50 as of February 2022). Since 2018, the company’s annual recurring revenue (ARR) grew at 117% per year on average (ARR doubled in 2021).

BlueVoyant partnered with SentinelOne, an enterprise security provider in October 2021. The partnership combines SentinelOne's Singularity Complete Suite comprising advanced endpoint detection and response (EDR) capabilities, with BlueVoyant's 24/7 security operations center (SOC) to deliver enhanced MDR services to SentinelOne customers.

BlueVoyant has made various acquisitions to strengthen its product offerings. The company acquired the cybersecurity consulting companies Managed Sentinel and Concanon to provide customized deployments and to expand its services to the users of the Splunk cloud platform, respectively. In support of the Concanon acquisition, BlueVoyant received USD 30 million in incremental funding from existing investors to spur the growth of its Splunk security services. In July 2021, the company acquired Marclay Associates, a UK-based cybersecurity firm, and to support the acquisition, the company received another USD 30 million in funding from its existing shareholders to further accelerate business growth. Marclay Associates provides incident response, cyber investigations, and other tools such as digital forensics, virtual CISO services, and secured managed services, and BlueVoyant expects to cement its geographical presence in the UK through this acquisition. Its latest acquisition was 202 Group in October 2021, a developer of supply chain risk analytics solutions. Through this acquisition, the company expects to launch a new managed security offering called BlueVoyant Supply Chain Command that will aid US government entities to continuously monitor and identify third-party cyber risk across the supply chain, proactively remediate threats, understand risks based on geographic factors, identify investments and controls of foreign adversaries, and provide customized solutions.

In January 2021, the company partnered with the Swiss-based IT company ELCA, to create the new cyber defense joint venture Senthorus, which will operate a new Security Operations Center (SOC), headquartered in Geneva, Switzerland. Senthorus will provide Swiss organizations with threat detection and response services, along with the ability to process and store all customer data locally in Switzerland. The joint venture was also expected to support BlueVoyant’s global expansion strategy.

In February 2022, the company raised USD 250 million in a Series D funding round led by Liberty Strategic Capital at a valuation of more than USD 1 billion. The company expected to channel the funding toward further developing its technology, pursuing additional acquisitions, accelerating global expansion (adding up to two countries every quarter), expanding its sales and marketing team by 100 in 2022, and building on the growth momentum set in 2021 (targeting to continue with 100% ARR growth in 2022). The company also expects to reach a valuation of more than USD 10 billion within five years from 2022.