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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 (SMBs).
What the Series C financing included
| Item | Details |
|---|---|
| Round | Series C |
| Amount | $60 million |
| Announcement date | May 16, 2023 |
| Lead investor | Sapphire Ventures |
| Participating existing investors | Forgepoint Capital and JMI Equity |
| Total equity funding stated at the time | $118 million, according to Huntress |
| Board changes | Sapphire partner Casber Wang joined the Huntress board; operating partner Mahau Ma became a board observer |
The $118 million figure is the company’s total equity funding as of the announcement, not the size of the Series C itself.
What Huntress said the money was for
Improving the Managed Security Platform
Huntress said the proceeds would enhance its Managed Security Platform. In the 2023 announcement, the company described that platform as combining automation with human ThreatOps specialists to monitor attack surfaces, detect vulnerabilities and exploits, and help protect infrastructure from persistent footholds, ransomware and other attacks.
Those descriptions are Huntress’s positioning for the service; the announcement did not provide an independent performance test or guarantee a particular reduction in incidents.
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Expanding through MSP and MSSP channels
The other stated priority was market expansion, especially through MSPs and MSSPs. These providers manage technology or security for multiple customers and can give SMBs access to monitoring, analysis and response capabilities without requiring a full in-house threat-detection team.
SecurityWeek’s contemporaneous May 16, 2023 coverage likewise framed the financing around threat detection, analysis and response capabilities for MSP partners. It reported that Huntress had more than 105,000 end customers at that time. That is a 2023 report about end customers and should not be treated as the same metric as Huntress’s later count of protected businesses.
What “Huntress MDR” means in this context
Managed detection and response (MDR) is a managed security service in which a provider continuously monitors signals, investigates suspicious activity and helps customers contain or remediate threats. Huntress presented its approach as a combination of automated technology and human ThreatOps expertise, aimed at organizations that lack the staff or specialist capability to run those functions themselves.
For an SMB using an MSP or MSSP, the practical model is that the provider incorporates Huntress’s monitoring and response service into the customer’s broader IT or security operations. The Series C announcement focused on expanding that platform and channel model; it did not establish every feature that Huntress offers today.
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Why SMBs and service providers were central to the strategy
Huntress co-founder and CEO Kyle Hanslovan said the company’s mission was to make advanced cybersecurity available to businesses regardless of size. In the same announcement, he referred to 32 million SMBs in the United States; that number is his attributed claim, not an independently verified statistic in the financing coverage.
Sapphire Ventures partner Casber Wang characterized SMB security as underserved and said Huntress was built to address gaps in security talent and outcome-focused technology. Sapphire operating partner Mahau Ma highlighted Huntress’s reach among managed service providers and its opportunity to serve a growing customer base. These statements explain the investors’ rationale, but they are not independent forecasts of growth or effectiveness.
How the Series C fits Huntress’s financing timeline
| Date | Milestone | What it establishes |
|---|---|---|
| May 16, 2023 | Series C announced | $60 million raised; Sapphire Ventures led, with Forgepoint Capital and JMI Equity participating |
| June 2024 | Series D announced | $150 million raised; the announcement named Kleiner Perkins, Meritech Capital and Sapphire Ventures |
| July 30, 2026 | Company update | Later company-reported scale and platform figures, not 2023 Series C metrics |
Because Huntress announced a larger Series D in June 2024, the 2023 Series C is not the company’s latest funding round.
What changed later—and what should not be attributed to the Series C
In a July 30, 2026 company release, Huntress reported more than $250 million in annual recurring revenue, 65% year-over-year growth, 130% net revenue retention and a 99% customer satisfaction score. The same release reported protection for more than 270,000 businesses, 15 million identities and 5.5 million endpoints across more than 100 countries.
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Those are issuer-reported figures dated 2026, not independent measurements and not evidence that the 2023 financing alone caused the later results. They also use different measures from SecurityWeek’s 2023 “more than 105,000 end customers” figure, so the numbers should not be presented as a direct like-for-like growth calculation.
Huntress’s later platform description includes endpoint, identity, security information and event management (SIEM), security awareness and security-posture offerings, supported by a 24/7 security operations center. The company’s history records MDR for Microsoft 365 launching in 2023 and now being called Huntress Managed ITDR, while Managed SIEM launched in 2024. These later products and names should not be projected backward as though they were all part of the May 2023 Series C announcement.
Bottom line for readers
Huntress’s Series C was a $60 million, Sapphire Ventures-led financing announced on May 16, 2023. Huntress explicitly tied the proceeds to improving its managed security platform and expanding distribution through MSPs and MSSPs that serve SMBs. The round marked an expansion phase for the company’s MDR strategy, while the subsequent Series D and 2026 operating figures belong to later stages of Huntress’s development.
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