Huntress announced a $60 million Series C on May 16, 2023, led by Sapphire Ventures, with existing investors Forgepoint Capital and JMI Equity participating. Huntress said it would use the financing to enhance its Managed Security Platform and expand its market, particularly through managed service providers (MSPs) and managed security service providers (MSSPs) serving small and midsize businesses.
What the Series C financed
Huntress said the round would fund two broad priorities:
- Managed Security Platform improvements: Huntress described a service combining automated technology with human ThreatOps specialists to monitor attack surfaces, identify vulnerabilities and exploits, and help protect infrastructure from persistent footholds, ransomware and other attacks.
- Market expansion: The company emphasized distribution through MSPs and MSSPs that support SMBs without their own threat-detection, analysis and response teams.
These are Huntress’s stated objectives in the May 2023 announcement, not independent measurements of product performance or proof that every later milestone resulted from the Series C.
Who invested and what changed on the board
Sapphire Ventures led the financing. Forgepoint Capital and JMI Equity joined as existing investors. Huntress said the Series C brought its total equity funding to $118 million at the time.
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Sapphire Ventures partner Casber Wang was set to join Huntress’s board, while operating partner Mahau Ma was named a board observer.
What “Huntress MDR” means in this context
Managed detection and response (MDR) is a managed cybersecurity service that combines ongoing monitoring, detection and investigation with human-led response. Huntress positioned its platform for organizations that need those capabilities but may not have dedicated internal threat-hunting or incident-response staff.
The 2023 financing announcement framed the service around detecting vulnerabilities and active exploits, finding attacker footholds, and responding to ransomware and other persistent threats. Its channel model was central: MSPs and MSSPs could provide the service to SMB customers as part of a broader managed-IT or managed-security relationship.
What was known about Huntress’s scale in 2023
SecurityWeek’s contemporaneous May 16, 2023 coverage reported that Huntress had more than 105,000 end customers at that time and described the financing as supporting threat-detection, analysis and response capabilities for MSP partners.
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That customer figure should not be treated as identical to Huntress’s later count of businesses protected. The two figures come from different dates and use different descriptions.
Series C in Huntress’s financing timeline
| Event | Date | Amount or figure | What the source established |
|---|---|---|---|
| Series C | May 16, 2023 | $60 million | Led by Sapphire Ventures; Forgepoint Capital and JMI Equity participated. Huntress said proceeds would enhance its Managed Security Platform and support market expansion. |
| Series D | June 2024 | $150 million | Huntress later announced a larger round naming Kleiner Perkins, Meritech Capital and Sapphire Ventures. Therefore, the 2023 Series C is not Huntress’s latest funding round. |
| Company-reported operating scale | July 30, 2026 | More than $250 million ARR | Huntress reported this figure, along with 65% year-over-year growth, 130% net revenue retention and a 99% customer-satisfaction score. These are later issuer-reported figures, not 2023 Series C metrics. |
How the platform later expanded
Huntress’s later company materials describe a broader platform than the one outlined in the 2023 financing announcement. By July 2026, Huntress said it protected more than 270,000 businesses, 15 million identities and 5.5 million endpoints across more than 100 countries. Those figures are dated company claims and are not independently verified in the cited material.
The same 2026 release said that, since the June 2024 Series D, Huntress had launched three products in under two years: Managed SIEM, Managed Identity Security Posture Management and Managed Endpoint Security Posture Management. It also cited international reseller and distribution partnerships and a mobile app.
Huntress’s company history records the 2023 launch of MDR for Microsoft 365, now called Huntress Managed ITDR, and the 2024 launch of Huntress Managed SIEM. Later offerings also span endpoint, identity, security awareness and security-posture capabilities, alongside a 24/7 security operations center. Those later features should not be projected backward as if they were all part of the May 2023 Series C announcement.
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Why the SMB and MSP focus mattered
Huntress co-founder and CEO Kyle Hanslovan said the company’s mission was to make advanced cybersecurity available to businesses of any size. In the announcement, he referred to 32 million SMBs in the United States; that is his attributed claim, not an independently verified statistic in the available material.
Sapphire’s Casber Wang characterized SMB security as underserved and said Huntress was designed to address gaps in security talent and outcome-focused technology. Mahau Ma highlighted Huntress’s reach through managed service providers and its opportunity to serve a growing customer base. These comments explain the investors’ rationale but are not independent forecasts of performance.
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How to interpret the announcement today
- The Series C was a 2023 growth financing, not a current fundraising event.
- Its announced purpose was platform investment and go-to-market expansion, especially through MSP and MSSP channels.
- SecurityWeek’s more-than-105,000 end-customer figure belongs to May 2023 and should remain tied to that report.
- Huntress’s later $150 million Series D means the Series C should be described as an earlier round.
- Huntress’s 2026 ARR, customer, identity and endpoint figures describe later company-reported scale, not results established by the 2023 announcement.
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