Arctic Wolf Revenue, Valuation, Funding & Investors
Arctic Wolf is valued at $4.3B as of July 2021, a 21.5x multiple on its last reported $200M revenue.
Last Arctic Wolf valuation
$4.3B
Series F · Jul 2021
Last Arctic Wolf funding round
$401M
Undisclosed stage · Oct 2022
Arctic Wolf revenue
$200M
Series F · Jul 2021
Key investors in Arctic Wolf
Viking Global Investors
Bright Pixel
Redpoint
Knollwood Investment Advisory
Blue Owl Capital Corp.
Lightspeed Venture Partners
About Arctic Wolf
Arctic Wolf is a security operations platform delivering managed detection and response, managed risk, and managed cloud monitoring services. Its solutions integrate with AWS, Azure, and Google Cloud to provide 24/7 threat hunting and incident response. Headquartered in Eden Prairie, Minnesota, the company serves over 1,000 organizations across finance, healthcare, and manufacturing sectors. Launched in 2012, Arctic Wolf expanded through acquisitions like BlackBerry's Cylance and now operates globally with data centers in North America and Europe.
Founded
2012
HQ
Minneapolis, MNWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$200M (Jul 2021)
Valuation
$4.3B (Jul 2021)
Arctic Wolf Valuation
Arctic Wolf is currently valued at $4.3B, based on its Series F in July 2021.
The $150M round was led by Blue Owl Capital Corp. and Viking Global Investors, with participation from TriplePoint Ventures.
Arctic Wolf's valuation has grown 15x from $285M at its Series D in March 2020 to $4.3B in July 2021, across 3 priced rounds.
Arctic Wolf valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2021 | Series F | $4.3B | 21.5x |
| Oct 2020 | Series E | $1.3B | 3.0x |
| Mar 2020 | Series D | $285M | - |
Arctic Wolf Revenue
Arctic Wolf's latest recorded revenue is $200M, as of its Series F in July 2021. At a $4.3B valuation, that implies a 21.5x revenue multiple.
Revenue moved from $438M in October 2020 to $200M in July 2021, while the revenue multiple moved from 3.0x to 21.5x.
Arctic Wolf revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2021 | $200M | $4.3B | 21.5x | Series F |
| Oct 2020 | $438M | $1.3B | 3.0x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Arctic Wolf Funding History
Arctic Wolf has raised a total of $872M across 6 funding rounds.
Arctic Wolf's first fundraising round was a $16M Series B in January 2018. The most recent completed round was a $401M undisclosed-stage round in October 2022.
Arctic Wolf funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2022 | Undisclosed stage | Blue Owl Capital Corp. (lead); Ontario Teachers' Pension Plan; Neuberger Berman; Viking Global Investors | $401M | - | Arctic Wolf is a cybersecurity company providing managed detection and response (MDR) services through its Security Operations Platform, which integrates security data sources for solutions including Managed Detection and Response, Managed Risk, Managed Security Awareness, and Incident Response. The platform serves over 5,000 global customers and processes more than 5.2 trillion security events per week as of 2024. In October 2022, Arctic Wolf raised $401 million in convertible notes led by Owl Rock (now Blue Owl Capital), with participation from Viking Global Investors, Ontario Teachers’ Pension Plan, and Neuberger Berman. This debt round brought total funding to approximately $900 million, with $499 million from prior equity investments, and was intended for product development, strategic M&A, and global expansion, particularly in Asia-Pacific, Australia, and New Zealand. The company had previously raised $150 million in a Series F round in July 2021 at a $4.3 billion post-money valuation led by Viking Global and Owl Rock, based on $200 million ARR reported in September 2021, implying a 21.5x revenue multiple. Arctic Wolf reported $261 million in ARR for 2022, up from $200 million in 2021, with over 3,000 customers worldwide including more than 100 U.S. state and local government agencies at the time of the debt raise. Arctic Wolf demonstrated strong historical growth, with revenues increasing over 4,300% from 2016 to 2020 and customer base expanding significantly. By 2023, estimated ARR reached $438 million, a 36% year-over-year increase, at a $4.3 billion valuation from 2021 for a 9.8x forward multiple. The company has been positioned for an IPO, delayed after acquisitions like Tetra Defense in 2022, and continued aggressive expansion, achieving the highest revenue growth rate among 46 vendors in Gartner's 2023 Security Services report. |
| Jul 2021 | Series F | Blue Owl Capital Corp. (lead); Viking Global Investors (lead); TriplePoint Ventures | $150M | $4.3B | Arctic Wolf is a leader in security operations, offering cloud-native Security Operations Center (SOC)-as-a-Service and managed detection and response (MDR) solutions. The company protects over 5,000 global customers across 30 countries with its platform that processes 1.2 trillion security events weekly. On July 13, 2021, Arctic Wolf announced a $150 million Series F financing round led by Viking Global Investors and Owl Rock (a division of Blue Owl Capital), with other existing investors participating, achieving a $4.3 billion post-money valuation. The funding came nine months after a $200 million Series E at $1.3 billion valuation, tripling the company's value. Arctic Wolf reported doubling revenue and headcount in 2020, with 438% year-over-year ARR growth in large enterprise customers and approximately 3,000 total customers at the time of the round. By September 2021, the company reached $200 million in ARR, implying a 21.5x revenue multiple on the Series F valuation. It highlighted 100% year-over-year ARR growth for each of the prior seven years and rapid platform adoption, with nearly 60% of customers using three or more solutions. Proceeds from the Series F were intended to innovate offerings, hire experts, expand operations globally, and pursue mergers and acquisitions, including recent buys like RootSecure. Arctic Wolf expanded into EMEA and launched Managed Security Awareness training ahead of the round. The company has raised nearly $500 million in equity by mid-2021, with key investors including Viking Global and Blue Owl, positioning it as a fast-growing player in the cybersecurity market amid a 12.4% projected increase in global security spending to $150.4 billion that year. |
| Oct 2020 | Series E | Viking Global Investors (lead); DTCP | $200M | $1.3B | Arctic Wolf, a leader in cloud-native security operations and managed detection and response (MDR), raised $200 million in its Series E funding round on October 22, 2020, achieving a post-money valuation of $1.3 billion and unicorn status. The round was led by Viking Global Investors, with participation from DTCP and existing investors, following a $60 million Series D earlier in the year and bringing total funding to $378 million. The company, founded in 2012 and employing over 500 people at the time, announced its relocation of headquarters from Silicon Valley to Eden Prairie, Minnesota, to support economical scaling. Proceeds from the round were earmarked to accelerate new security operations offerings, expand into new markets, and strengthen its position in the MDR market, where Gartner forecasted 50% of organizations would use such services by 2025. Arctic Wolf's flagship product, Arctic Wolf Managed Detection and Response, helps mid-sized enterprises detect, respond to, and recover from cyber threats, processing approaching 1 trillion security events per week. The firm had transitioned to a 100% channel sales model, driving significant partner growth. Traction metrics highlighted robust year-over-year performance: 106% subscription revenue growth, 180% increase in enterprise customers, 301% growth in multi-solution customers, and 282% growth in channel partners. This funding positioned Arctic Wolf as the first cloud-native MDR vendor over $1 billion valuation, amid rising cybersecurity demands in remote work environments. |
| Mar 2020 | Series D | Blue Cloud Ventures (lead); Stereo Capital (lead); Delta-v Capital; Bright Pixel; NextEquity Partners | $60M | $285M | Arctic Wolf is a cybersecurity company providing security operations center (SOC)-as-a-service, offering managed detection and response (MDR) with dedicated security experts for threat detection, risk management, and predictable pricing to organizations of various sizes. On March 11, 2020, it raised $60 million in a Series D round led by Blue Cloud Ventures and Stereo Capital, with participation from Delta-v Capital, NextEquity Partners, and other new and existing investors, bringing total funding to over $148 million. The funds were intended to accelerate growth, introduce new service offerings, expand into new markets, build a war chest for future preparedness including potential small acquisitions, and position for an IPO within about 10 quarters or two-and-a-half years. The company demonstrated strong traction prior to the round, with revenue growing 4,300 percent over the past four years and expectations to double that year, alongside a more than 130 percent increase in customer base and doubling of its security team in the prior year. It was ranked 25th fastest-growing company in North America on Deloitte’s 2019 Technology Fast 500. Arctic Wolf had previously acquired RootSecure in December 2018 and raised $45 million in Series C in 2018 led by Future Fund. This Series D valued Arctic Wolf at an estimated $285 million post-money. The managed security market, particularly MDR and SOC-as-a-service, was fragmented with talent shortages and misaligned pricing, where Arctic Wolf aimed to lead by combining technology with expert analysts. Subsequent rounds included a $200 million Series E in October 2020 at $1.3 billion valuation. |
| Oct 2018 | Series C | Future Fund (lead); Adams Street Partners; Redpoint; Scale-Up; Bright Pixel; Unusual Ventures; Knollwood Investment Advisory | $45M | - | Arctic Wolf, founded in 2012, is a security operations center (SOC)-as-a-service company that provides managed detection and response (MDR) solutions to organizations of all sizes. The company delivers its award-winning, turnkey SOC-as-a-service offering through a platform that installs in minutes and leverages Concierge Security engineers combined with Hybrid AI to enable threat detection, response, and recovery from advanced cyber threats. In October 2018, Arctic Wolf announced a $45 million Series C funding round led by Future Fund, with participation from new investors Adams Street Partners and Unusual Ventures, alongside existing investors Lightspeed Venture Partners, Redpoint Ventures, Sonae Investment Management, and Knollwood Investment Advisory LLC. By this time, the company had raised a cumulative $91.2 million across all funding rounds and had achieved a 219 percent year-over-year customer growth rate since its 2012 founding, with headcount more than doubling to 166 employees across four North American offices. The funding was intended to accelerate company growth to meet demand for its SOC-as-a-service offering and expand internal vulnerability assessment and endpoint detection and response capabilities. |
| Jan 2018 | Series B | Bright Pixel (lead); Redpoint; Lightspeed Venture Partners; Knollwood Investment Advisory | $16M | - | Arctic Wolf raised $16 million in an additional Series B funding round in January 2018 led by Bright Pixel (formerly Sonae IM), with participation from Lightspeed Venture Partners and Redpoint. The funding aimed to enhance technology and increase market penetration for the cybersecurity company, which provides managed security operations solutions. This followed an earlier Series B round of $20 million in December 2012. |
Who has invested in Arctic Wolf?
18 investors have backed Arctic Wolf across its funding rounds, including Viking Global Investors, Bright Pixel, Redpoint, Knollwood Investment Advisory, Blue Owl Capital Corp. and Lightspeed Venture Partners.
Lead investors include Blue Owl Capital Corp., Viking Global Investors, Blue Cloud Ventures, Stereo Capital, Future Fund and 1 other investor.
Arctic Wolf Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Porto | 3 | Lead | Jan 2018 | |
| Stamford, CT | 3 | Lead | Oct 2020 | |
| San Francisco, CA | 2 | Participant | Jan 2018 | |
| New York City, NY | 2 | Lead | Jul 2021 | |
| Baltimore, MD | 2 | Participant | Jan 2018 | |
| Chicago, IL | 1 | Participant | Oct 2018 | |
| San Francisco, CA | 1 | Participant | Oct 2018 | |
 Toronto | 1 | Participant | Oct 2022 | |
| Boulder, CO | 1 | Participant | Mar 2020 | |
| New York City, NY | 1 | Participant | Oct 2022 | |
| San Francisco, CA | 1 | Participant | Jul 2021 | |
| San Francisco, CA | 1 | Lead | Mar 2020 | |
| San Francisco, CA | 1 | Participant | Jan 2018 | |
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Start Free TrialAcquisitions by Arctic Wolf
Arctic Wolf has acquired 8 companies to date.
Last acquisition by Arctic Wolf was on February 23rd 2026. Arctic Wolf acquired Sevco Security for undisclosed valuation.
Latest Acquisitions by Arctic Wolf
| Description | Sevco Security is an Austin, Texas-headquartered cybersecurity firm offering a cloud-native asset intelligence platform that discovers, inventories, and manages IT assets including devices, users, and applications. The platform supports risk prioritization, vulnerability management, and automated enforcement to address extended attack surfaces for enterprises worldwide. | UpSight Security is a cybersecurity firm delivering a threat graph AI engine for real-time detection and eviction of AI-assisted attackers. Its cloud-based agent monitors device events, filtering billions daily into actionable threat intelligence via the UpSight Threat Graph. Deployed across endpoints, the solution identifies advanced persistent threats for enterprises in finance and healthcare. Headquartered in Tel Aviv, it integrates with SIEM systems like Splunk. | BlackBerry, once known for being the world’s largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communications for enterprises. The firm provides endpoint management and other secure communications software to enterprises, specializing in regulated industries like government and financial institutions. BlackBerry also has a sizable embedded software business primarily serving the automotive market, with some exposure to the industrial market. | Revelstoke is a Boston-based cybersecurity company delivering a security orchestration, automation, and response platform that integrates with tools like Splunk, ServiceNow, and CrowdStrike. It automates incident workflows for SOC teams handling phishing, ransomware, and endpoint threats, reducing response times through no-code playbooks. The platform serves enterprises in finance and healthcare across the U.S. with API-driven extensibility. | |
| HQ Country | | | | | |
| HQ City | Austin, TX | Portland, OR | Waterloo | San Jose, CA | |
| Deal Date | 23 Feb 2026 | 4 Nov 2025 | 16 Dec 2024 | 10 Oct 2023 | |
| Valuation | undisclosed | undisclosed | $160M | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Arctic Wolf Competitors
Arctic Wolf competitors include listed companies like Clear Secure, Tenable and BlackBerry, and private ones like Vanta, OneTrust and Cato Networks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | $220M | - | $4.2B | 18.9x | |
| United States | Publicly listed | $901M | $216M | $4.1B | 3.2x | |
| Atlanta, GA | Private | $400M | - | $4.5B | 11.3x | |
| United States | Publicly listed | $999M | $31M | $4B | 3.9x | |
| Canada | Publicly listed | $549M | $83M | $4.7B | 7.8x | |
 Tel Aviv | Private | $300M | - | $4.8B | 16.0x |
Arctic Wolf Public Comps
Arctic Wolf is still privately-owned, but its public comps include Clear Secure, Tenable, BlackBerry, Trend Micro, Varonis Systems, Glory View Technology, Cellebrite, AvePoint, NetScout Systems and QiAnXin.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $901M | $216M | 3.7x | 3.2x | 15.3x | 9.5x | |||
| $999M | $31M | 4.1x | 3.9x | 129.9x | 15.3x | |||
| $549M | $83M | 8.3x | 7.8x | 54.9x | 36.6x | |||
| $1.8B | $488M | 2.2x | 2.1x | 8.0x | 8.1x | |||
| $624M | ($147M) | 8.5x | 7.5x | (36.0x) | 229.5x | |||
| $176M | $53M | 38.7x | 39.4x | 127.8x | 129.4x | |||
| $476M | $79M | 5.4x | 4.8x | 32.3x | 17.3x | |||
| $419M | $42M | 5.9x | 5.1x | 58.4x | 27.4x | |||
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Common questions about Arctic Wolf
| When was Arctic Wolf founded? | Arctic Wolf was founded in 2012. |
| Where is Arctic Wolf headquartered? | Arctic Wolf is headquartered in Minneapolis, MN, United States. |
| Is Arctic Wolf publicly listed? | No, Arctic Wolf is a private, VC-backed company. |
| What is Arctic Wolf's valuation? | Arctic Wolf was last valued at $4.3B in its Series F in July 2021. |
| How much funding has Arctic Wolf raised? | Arctic Wolf has raised $872M across 6 funding rounds. |
| What was Arctic Wolf's last funding round? | Arctic Wolf's last funding round was a $401M undisclosed-stage round in October 2022, led by Blue Owl Capital Corp.. |
| Who are Arctic Wolf's investors? | Arctic Wolf's investors include Bright Pixel, Viking Global Investors, Redpoint, Blue Owl Capital Corp., Knollwood Investment Advisory, Adams Street Partners, Scale-Up, Ontario Teachers' Pension Plan, Delta-v Capital, Neuberger Berman and 8 others. |
| What is Arctic Wolf's revenue? | Arctic Wolf's latest recorded revenue is $200M (July 2021). |
| What is Arctic Wolf's revenue multiple? | Arctic Wolf's latest valuation implies a 21.5x revenue multiple ($4.3B valuation on $200M of revenue). |
| Which companies are comparable to Arctic Wolf? | Companies comparable to Arctic Wolf include Vanta, Clear Secure, OneTrust, Tenable, BlackBerry and Cato Networks. |
| How many companies has Arctic Wolf acquired? | Arctic Wolf has acquired 8 companies, including Sevco Security, UpSight Security, BlackBerry, Revelstoke and Tetra Defense. |
| What was the largest acquisition by Arctic Wolf? | The $160M acquisition of BlackBerry in December 2024 is the largest acquisition Arctic Wolf has made to date. |
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