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Data and analytics security solutions provider Rapid7 today announced it has acquired IntSights, a threat intelligence platform developer, for $335 million in cash and stock. With the purchase of IntSights, Rapid7 says it will combine its existing threat intelligence technologies with IntSights’ threat detection and remediation capabilities in a single customer offering.
In light of the digital transformation brought on by the pandemic, the attack surface in the enterprise has increased substantially. Yet security teams are largely under-resourced and overburdened. Spurred on by the threat of hacks and data breaches, the global cybersecurity market is expected to grow from $152 billion in 2018 to $250 billion by 2023.
IntSights, which is headquartered in New York, with offices in Amsterdam, Boston, Dallas, Singapore, Tel Aviv, and Tokyo, aimed to address this challenge with products that monitored enterprises’ profiles across the web. Its technologies ingested assets and correlated inputs, variables, and interactions to identify cyberattacks that might impact employees or customers, as well as collating various sources of intelligence to ensure blocklists remain up to date.
Prior to the Rapid7 acquisition, IntSights had raised $71.3 million in venture capital from Qumra Capital, Blumberg Capital, and others. The startup’s customer base included brands like Blackstone, American Eagle Outfitters, Caesars Entertainment, Gett, and Wipro.
“We founded IntSights to make threat intelligence instantly accessible and actionable for organizations of any type or size,” IntSights cofounder and CEO Guy Nizan said in a statement. Nizan cofounded the company in 2015 along with Alon Arvatz and Gal Ben David. “We are excited to join Rapid7 to continue this mission and to bring our threat intelligence capabilities to even more customers.”
Rapid7 CEO and chair Corey Thomas says IntSights’ platform features will be brought into Rapid7’s extended detection and response solution, InsightIDR, in the coming weeks. The integration will provide Rapid7 customers with a view into threats, attack surface monitoring, relevant insights, and proactive threat mitigation, he added.
“Cybersecurity is a lopsided battle today, and the odds consistently favor attackers,” Thomas said in a press release. “Both IntSights and Rapid7 have a shared belief that organizations will succeed only when they have a unified view of internal and external threats, complete with contextualized intelligence and automated threat mitigation, which will allow security teams to focus on the most critical threats. We look forward to working with IntSights to make this vision a reality for our customers.”
Rapid7 VP of detection and response Richard Perkett added: “By integrating IntSights’ external threat intelligence capabilities into Rapid7’s XDR solution, InsightIDR, we expect to provide security teams with expanded visibility and detections of internal and external threats across their traditional and modern environments — enabling them to quickly pivot into investigations, threat hunting, and containment automation all within a unified experience.”
News of the acquisition, which was rumored last week, comes after Boston, Massachusetts-based Rapid7 released guidance for Q2 2021. The company expects annual recurring revenue to end at roughly $489 million, up 29% year-over-year, and revenue and non-GAAP income from operations to exceed the high end of its previous guidance. IntSights is Rapid7’s latest acquisition after cyber monitoring startup Velociraptor and Tel Aviv container security company Alcide.
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