BlueVoyant acquires Concanon and secures $30 million in funding

BlueVoyant, a New York-based cybersecurity company, recently announced the acquisition of global professional services and big data solutions consultancy, Concanon.

With this acquisition, Concanon becomes a standalone but wholly-owned subsidiary of BlueVoyant. Concanon will coordinate services through BlueVoyant’s Modern SOC for Splunk® Cloud Platform.

The acquisition will help to provide the services and solutions to further empower Splunk customers worldwide and to maximize their investments in Splunk Cloud Platform.

The acquisition will also enable Concanon to expand their services to Splunk customers to optimise their investment and accelerate migration to the Splunk Cloud Platform by leveraging BlueVoyant’s technology and expertise.

Supporting this acquisition, BlueVoyant will receive $30 million in incremental funding from existing investors, helping to stimulate further growth in its global portfolio of managed Splunk security capabilities.

“We continue to see an exponential rise in customers moving to the cloud, exposing a critical need to deploy cloud-native security technologies to take advantage of more robust integrations across clouds and software as a service products,” said Milan Patel, Global Head of Managed Security Services at BlueVoyant.

“Acquiring Concanon enables BlueVoyant to provide end-to-end services to customers already in the Splunk Cloud Platform and to those customers who are interested in migrating. This includes onboarding, ongoing maintenance, and 24/7 security monitoring.”

Mike Cormier, Managing Director and Co-Founder at Concanon, said: “Our mission is to ensure that our customers can evolve insights by not only trusting in their data but ensuring that their data is secure.

“We pride ourselves on helping customers solve tough business problems with innovative solutions by extracting the right data, implementing understandable processes to enhance and enrich that data, and having the right amount of time to make the best decisions possible. The marriage between BlueVoyant and Concanon will enable us to do that at scale.”

Teresa Carlson, President and Chief Growth Officer at Splunk, added: “The combination of BlueVoyant and Concanon means that customers now have access to both a seasoned Splunk partner and best-of-breed security operations service provider. Fusing the two offerings enables us to serve our Splunk customers better and grow our ecosystem of partners.”

Jim Rosenthal, CEO at BlueVoyant, concluded, “BlueVoyant’s investment in Concanon is the next step in aligning our offerings so that we can continue to enhance the Splunk ecosystem, and deliver superior SOC services to Splunk customers.”