Just weeks after AlienVault nabbed seven executives from HP’s enterprise security business, the startup landed $8 million in Series B funds.
AlienVault is the creator of OSSIM, a popular open source security information and event management product (SIEM). SIEM is expected to be a $2.3 billion market by 2014, according to investment banking firm William Blair & Co.
HP acquired Fortify Software in 2010 for an estimated $265 million, according to Forbes. Two weeks ago, AlienVault pretty much took the whole Fortify leadership team off HP’s hands.
It hired Jim Yares, Richard Kirk, John Richardson, Jack Marshall and Gail Boddy. The crew will become AlienVault’s new top sales, finance, and HR guys, similar to the roles they held for HP security.
And what the heck. As long as AlienVault was shopping it picked up a new CEO, Barmak Meftah, and a new CTO, Roger Thornton, also from HP Fortify. Thornton was one of Fortify’s co-founders.
HP Fortify isn’t in the same security niche as OSSIM. Fortify does security testing — including a cloud service. SIEM helps companies make sense of the data generated by their many security products. AlienVault claims OSSIM has over 160,000 downloads and users in 80 countries.
But since the $8 million is earmarked for research and development, it’s not hard to guess what kind of new developments might be in store for AlienVault. (Cloud security testing, perhaps?) In fact, founder Julio Casal, formerly CEO, will serve as general manager of a new cloud security unit. Co-founder Dominique Karg, formerly CTO, will have the role of head security researcher.
The Series B was lead led by a new investor, Trident Capital, which is known for funding security startups, with participation from existing investors Adara Venture Partners and Neotec. The company also named Trident managing director J. Alberto Yepez Chairman of the Board, and Trident principal Michael Biggee also joined the AlienVault board.