Revelstoke raises $13 million to launch low-code SOAR solution
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Revelstoke today announced the launch of a new Security Orchestration Automation and Response (SOAR) solution designed to automate analytics tasks within Security Operations Centers (SOCs). The organization has also raised $13 million in funding
This marks Revelstoke’s entry into the SOAR market, which: expect to grow with 14.6% compound annual growth to reach $2.02 billion by 2025.
Revelstoke provides CSOs and technical decision makers with a solution that can automate manual management tasks in the SOC and empower analysts to spend more time on rewarding work, such as mitigating complex and unique threats.
Manual administration tasks, especially managing false positive alerts, have long been a problem for SOC teams. Modern SOC environments are so stressful that a poll of 2,303 IT security and SOC decision makers found that 70% of respondents indicated that their private lives are affected by their work when managing IT threat alerts.
While many companies use SOAR tools as part of their security strategy, Bob Kruse, CEO and co-founder of Revelstoke, believes they have done a poor job of reducing complexity for security analysts.
“CISOs and security analysts at Security Operations Centers (SOCs) are inundated with threat data and intelligence,” Kruse said in an interview. “Some SOAR solutions offer 100% automation but lack the ability to adapt when needed, while other SOAR solutions are too complex and require extensive development and programming.”
“We believe the next-generation SOAR should offer the best of both worlds: no-code capabilities to fully automate analysis and scale redundant processes, while also enabling low-code customization capabilities,” he said.
A no-code entry into the SOAR market
Of all the providers in the SOAR market, perhaps the most relevant competitor to Revelstoke is: teetha no-code security automation platform, which raised $26 million in Series B funding last year, bringing the company’s total funding to $41.1 million and reaching a valuation of $300 million.
While solution providers like Tines are also focusing on no-code approaches to security automation, Kruse believes Revelstoke’s Unified Data Layer is the company’s “secret sauce.” “The UDL allows us to eliminate almost all coding requirements and creates the flexibility to integrate and automate everything.” he said.
“The capabilities of the Unified Data Layer enable CISOs to plug and play new technologies and new products. It puts an end to the need [of] the Sophie’s Choice of CISOs: take my network offline for significant downtime to install new technologies, or stay on track with an outdated product set and suffer from vendor lock?”
Kruse and Revelstoke hope to build on existing SOAR tools to build a solution that can automate the tasks required to run the SOC and reduce the administrative burden that has created a stressful work environment for security analysts.
The Series A funding round for Revelstoke included participation from ClearSky Security Fund, CrossLink Capital, Rally Ventures and SYN Ventures.
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