Vega raises $120M Series B to rethink how enterprises detect cyber threats

TechCrunch reports that Vega Security, an AI-native cybersecurity startup, raised a $120 million Series B led by Accel (with participation from Cyberstarts, Redpoint, and CRV), nearly doubling its valuation to $700 million to scale its approach of running detection and response directly where enterprise data resides across cloud services, data lakes, and existing storage. CEO Shay Sandler (ex-IDF cyber, Granulate) argues legacy SIEM models like Splunk (acquired by Cisco in 2024) are cost-prohibitive and struggle with exploding data volumes, positioning Vega as a simpler, more scalable alternative already winning multimillion-dollar deals with banks, healthcare firms, and cloud-heavy enterprises such as Instacart.