Demisto

DATA-QUALITY NOTE: This profile (id 10035475, domain demisto.com) is a duplicate database entry for the same company as profile id 10012340 (Demisto, a SOAR startup acquired by Palo Alto Networks in February 2019 for approximately $560 million and later rebranded Cortex XSOAR). This is very likely a data-import artifact that created two separate rows for the same Greylock portfolio company rather than a genuinely distinct entity. I independently re-verified the identity: (1) demisto.com itself still resolves and serves the legacy 'Demisto Enterprise' security-operations-platform marketing site describing the DBot chat-driven automation engine, '95% reduction in alert volume,' and '30% reduction in Mean Time To Resolution' -- content consistent with the pre-acquisition Demisto product; (2) Crunchbase's organization page for demisto.com explicitly lists 'Also Known As: Cortex XSOAR' and shows the same four founders (Slavik Markovich, Rishi Bhargava, Dan Sarel, Guy Rinat), same Cupertino, CA headquarters, same 'acquired by Palo Alto Networks' status, and the same Series C lead investor (Greylock, with Accel and Salesforce Ventures participating) as profile 10012340; (3) Greylock's own portfolio page for Demisto (greylock.com/portfolio/demisto/) lists the identical founder team, HQ, and 'First Partnered: Series C' relationship; and (4) Demisto's Crunchbase people page lists Jake Flomenberg as a board member (an Accel partner at the time who later founded Wing Venture Capital), the same board member documented on profile 10012340. There is no evidence of any second, independent company also named Demisto at the demisto.com domain -- every source checked describes the identical SOAR startup, founding team, funding history, and acquisition outcome as profile 10012340. All company facts, founders, funding rounds, and milestones recorded below are therefore identical in substance to profile 10012340 and are included here only to satisfy the requirement that every profile_id have a complete, self-contained row; the underlying database should ideally merge/deduplicate these two rows (10012340 and 10035475) into a single company record.

Demisto was founded in 2015 (officially launched in July 2015 per contemporaneous TechCrunch coverage) by Slavik Markovich (CEO), Rishi Bhargava, Dan Sarel, and Guy Rinat. Three of the four co-founders (Markovich, Sarel, and Rinat) had previously worked together at Sentrigo, a database-security startup acquired by McAfee around 2011, and the founding team split its operations between Cupertino, California (sales, marketing and HQ) and Tel Aviv, Israel (core engineering). The company built Demisto Enterprise, a Security Orchestration, Automation and Response (SOAR) platform centered on a chat-driven automation bot called DBot: security analysts could interact with DBot in a shared chat interface while it executed configurable 'playbooks' that pulled data from and triggered actions in dozens of connected security products (Palo Alto Networks, Splunk, Carbon Black, and others). The product launched into beta on April 1, 2016 and emerged from stealth publicly on May 25, 2016 with an 18-person team and a $6 million Series A round led by Accel, with individual angel participation from Stuart McClure (then CEO of Cylance), Kevin Mahaffey (co-founder/CTO of Lookout), and Mike Fey (then president of Blue Coat Systems, later McAfee CEO).

Demisto went on to raise Series B and Series C rounds (exact dates and amounts for these two rounds are not confirmed in the public sources available to me; Crunchbase keeps this detail behind a paywall), with Greylock Partners leading the Series C round alongside continued participation from Accel and new investor Salesforce Ventures; by the time of its acquisition the company had raised a total of $69 million. In May 2018, Demisto announced an integration app for the Palo Alto Networks Application Framework, deepening a technology partnership between the two companies well before any acquisition talks became public. On February 19, 2019, Palo Alto Networks announced a definitive agreement to acquire Demisto for approximately $560 million. At the time of the deal, Demisto had roughly 150 customers, about 25% of them Fortune 500 companies. The acquisition closed in the spring of 2019, and all four Demisto co-founders subsequently joined Palo Alto Networks in senior product/engineering leadership roles.

Business model

B2B enterprise security software sold via subscription (cloud-based SaaS) or as an on-premises appliance, targeting security operations center (SOC) teams at mid-size to large enterprises.

Subscription/license revenue from enterprise SOAR platform deployments, available as a cloud-based subscription or on-premises appliance.