“Security in the modern world is moving from a human-scale problem to a machine-scale problem. Customers are looking for a new approach to help them overcome the pain and complexity around an increasingly perimeter-less world. The JASK team are experts in helping customers navigate this new world. By aligning our efforts as a single team, we are able to democratize security intelligence for all.”
– Ramin Sayar, President & Chief Executive Officer, SumoLogic
“The team at JASK set out to fundamentally disrupt traditional security solutions that are no longer meeting the needs of modern security teams. Over the past five years, we’ve worked with customers and experts on the front lines of this disruption to uncover what will truly have an impact on improving the performance of security analysts that have been mired with alert fatigue. We’re excited to bring together our collective security DNA and joint customers and partners to create a powerful security intelligence solution that provides a cloud-native best-in-class modern SOC and analytics solution.”
– Greg Martin, Chief Executive Officer, JASK
Transaction Overview
- On November 4th, 2019, Sumo Logic, Inc. ("Sumo Logic") announced the acquisition of JASK Labs, Inc. ("JASK"), a provider of cloud-native autonomous security operations center (ASOC) software
- JASK was founded in 2015 in Austin, Texas and raised approximately $39 million in funding from investors including Battery Ventures, Dell Technologies Capital, TenEleven Ventures, and Kleiner Perkins. JASK's last funding round was a $25 million Series B led by Kleiner Perkins in June 2018
- JASK is best known for its flagship product, JASK Autonomous Security Operations Center (ASOC), which collects and analyzes data from any source, including endpoint data, network data, and applications in the cloud. JASK ASOC improves workflows for security analysts by addressing alert fatigue and automating repetitive tasks by simultaneously monitoring both on-premises and heterogeneous multi-cloud infrastructures
- Sumo Logic is a Redwood City, California-based provider of a secure, cloud-native Continuous Intelligence Platform for DevSecOps delivering real-time, continuous intelligence from structured, semi-structured and unstructured data across the entire application lifecycle and stack. Sumo Logic raised $345 million and was valued at over $1 billion in its most recent funding round in May 2019, when it raised $110 million in Series G
- Terms of the transaction were not disclosed
- Greg Martin was named Vice President and General Manager of the Sumo Logic security business unit. The addition of JASK's employees bolstered Sumo Logic's security engineering talent and domain expertise, as well as adding Austin, Texas to the growing roster of offices around the world
Transaction Significance
- The acquisition of JASK brings together Sumo Logic's industry leading Continuous Intelligence Platform, including its pioneering Cloud SIEM and Security Compliance Solutions, with JASK's ASOC offering to deliver a leading Cloud-Native security intelligence solution built for today's digital businesses that leverage modern applications, architectures, and multi-cloud infrastructures
- As part of Sumo Logic's Continuous Intelligence Platform, the company will expand its security intelligence portfolio with the launch of the Sumo Logic ASOC solution, as well as a Spec Ops offering for threat hunting
- The acquisition broadens Sumo Logic's portfolio as well as a rich joint ecosystem of customers and partners including MSPs, MDRs and VARs, while accelerating the companies' mutual strategy to deliver the automation needed to reduce the noise for security teams and help them modernize the SOC
- Security analytics tools, including legacy SIEM technology, have failed to provide the insights organizations need to effectively manage security and compliance in hybrid and multi-cloud environments. According to a survey conducted by Dimensional Research, 93 percent of security professionals think traditional SIEM solutions are ineffective for the cloud, and two thirds identified the need to consolidate and rethink traditional tools
- The Sumo Logic Continuous Intelligence Platform helps democratize security intelligence across hybrid and multi-cloud infrastructures as well as teams building and securing digital transformation initiatives. The platform delivers elastic scale for securing highly dynamic workloads, on-demand security analytics capacity and deployment agility, enabling new horizontal, collaborative and scalable workflows across security, IT and other lines of business
- JASK ASOC integrates with Sumo Logic's cloud SIEM to further transform security alerts into actionable insights in order to allow analysts to identify and respond to incidents faster and more efficiently
Momentum Cyber's Role
- Momentum Cyber served as exclusive financial & strategic advisor to JASK
- This transaction demonstrates Momentum Cyber's deep domain expertise in cybersecurity M&A and its proven track record advising leading security operations, SIEM, and cloud-native security platform providers on strategic transactions
If you’re navigating a critical inflection point in cybersecurity growth, M&A, or capital strategy, Momentum Cyber brings unmatched sector expertise and senior-level advisory to every engagement. Let us advise you today and help you maximize value with confidence in an increasingly complex cyber landscape.