Splunk Inc.
TypePublic
Industry
FoundedOctober 2003 (2003-10)
Founders
HeadquartersSan Francisco, California, U.S.
Key people
  • Gary Steele
  • (Chairman & CEO)
Products
Revenue
  • Increase US$3.65 billion (2023)
  • Increase US$−236 million (2023)
  • Increase US$−278 million (2023)
Total assets
  • Increase US$6.34 billion (2023)
Total equity
  • Decrease US$−111 million (2023)
Number of employees
c. 8,000 (2023)
Websitewww.splunk.com
Footnotes / references
Financials as of January 31, 2023[1]
Splunk at AWS Summit

Splunk Inc. is an American software company based in San Francisco, California,[2] that produces software for searching, monitoring, and analyzing machine-generated data via a web-style interface.[3]

Its software helps capture, index and correlate real-time data in a searchable repository, from which it can generate graphs, reports, alerts, dashboards and visualizations.[4][5] Splunk uses machine data for identifying data patterns,[6] providing metrics, diagnosing problems and providing intelligence for business operations. Splunk is a horizontal technology used for application management, security and compliance, as well as business and web analytics.[3]

Splunk is due to be acquired by Cisco for $28 billion in an all-cash deal announced in September 2023.[7]

History

Founding & early years

Michael Baum, Rob Das[8] and Erik Swan co-founded Splunk Inc in 2003.[9] Venture firms August Capital, Sevin Rosen, Ignition Partners and JK&B Capital backed the company.

By 2007, Splunk had raised US$40 million.[10] It became profitable in 2009.[11] In 2012 Splunk had its initial public offering, trading under NASDAQ symbol SPLK.[12][13]

Company growth

In September 2013 the company acquired BugSense, a mobile-device data-analytics company.[14] BugSense provides "a mobile analytics platform used by developers to improve app performance and improve quality". It supplied a "software developer kit" to give developers access to data analytics from mobile devices that it managed from its scalable cloud platform.[15] The acquisition amount was undisclosed.

In December 2013, Splunk acquired Cloudmeter, a provider of network data capture technologies.[16]

In June 2015, Splunk acquired the software company Metafor that uses machine learning technology to analyze data generated from IT infrastructure and applications.[17]

In July 2015, Splunk acquired Caspida, a cybersecurity startup, for US$190 million.[18]

In October 2015, Splunk sealed a "cybersecurity alliance" with U.S. government security contractor Booz Allen Hamilton Inc. to offer combined cyber threat detection and intelligence-analysis technology.[19]

In 2016, Splunk pledged to donate $100 million in software licenses, training, support, education, and volunteerism for nonprofits and schools over a 10-year period.[20]

According to Glassdoor, it was the fourth highest-paying company for employees in the United States in April 2017.[21][22] In May 2017, Splunk acquired Drastin, a software company that provides search-based analytics for enterprises.[23]

In September 2017, Splunk acquired SignalSense which developed cloud-based data collection and breach detection software.[24] Splunk announced it was using machine learning about that time.[25]

In October 2017, Splunk acquired technology and intellectual property from smaller rival Rocana.[26]

On April 9, 2018, Splunk acquired Phantom Cyber Corporation for approximately US$350 million.[27] In April 2018, it reached US$14.8 billion of market capitalization.[13]

On June 11, 2018, Splunk announced its acquisition of VictorOps, a DevOps incident management startup, for US$120 million.[28]

In July 2018 Splunk acquired KryptonCloud, an industrial IoT and analytics SaaS company.[29] Splunk acquired the cloud monitoring company, SignalFx, in October 2019 for $1.05 billion.[30] Two weeks later on September 4, 2019, Splunk acquired Omnition—an early-stage startup specializing in distributed tracing—for an undisclosed amount.[31]

Splunk also announced the launch of its corporate venture fund, Splunk Ventures—a $100 million Innovation Fund and a $50 million Social Impact Fund to invest in early-stage startups.[32]

Recent history

In 2020, Splunk was named to the Fortune 1000 list.[33]

As of September 2020, Splunk's client list includes 92 companies on the Fortune 100 list.[34]

Splunk was recognized as a Leader in the 2020 Gartner Magic Quadrant for SIEM.[35] The Gartner report evaluates SIEM providers, and then provides a graph (the Magic Quadrant) with vendors plotted based on their ability to execute (the Y-Axis) and their completeness of vision (the X-Axis).[35] Splunk has been noted for its analytics and infrastructure monitoring, its ability to scale and index original, raw data, its infosec functions, and its multiple deployment options.[36][37]

Splunk reported its fiscal 2021 fourth-quarter revenue of $745.1 million. For all of fiscal 2021, Splunk reported revenue of $2.23 billion.[38]

On November 15, 2021, Douglas Merritt stepped down as president and CEO. Graham Smith, Splunk's chairman since 2019, took over as interim CEO.[39][40]

On March 2, 2022, Splunk named Gary Steele, previously at Proofpoint, as its CEO and the successor to interim chief Graham Smith effective April, 2022.[41][42]

On September 21, 2023 Cisco announced it would acquire Splunk for $28bn in an all-cash deal.[7]

In November 2023, the company announced layoffs affecting 7% or 500 of its employees, following an earlier reduction of 300 staff in the same year. CEO Gary Steele clarified in a letter to employees, filed with the U.S. Securities and Exchange Commission, that the decision was not related to the Cisco deal.[43]

Products

Splunk's core offering collects and analyzes high volumes of machine-generated data. It uses an application programming interface (API) to connect to applications and devices.[44] It was developed for troubleshooting and monitoring distributed applications based on log messages.[45][46]

Splunk Enterprise Security (ES) provides security information and event management (SIEM) for machine data generated from security technologies such as network, endpoints, access, malware, vulnerability, and identity information. It is a premium application that is licensed independently.

In 2011, Splunk released Splunk Storm, a cloud-based version of the core Splunk product. Splunk Storm offered a turnkey, managed, and hosted service for machine data.[47] In 2013, Splunk announced that Splunk Storm would become a completely free service and expanded its cloud offering with Splunk Cloud.[48] In 2015, Splunk shut down Splunk Storm.[49]

In 2013, Splunk announced a product called Hunk: Splunk Analytics for Hadoop, which supports accessing, searching, and reporting on external data sets located in Hadoop from a Splunk interface.[50]

In 2015, Splunk announced a Light version of the core Splunk product aimed at smaller IT environments and mid-sized enterprises.[51] Splunk debuted Splunk IT Service Intelligence (ITSI) in September 2015. ITSI leverages Splunk data to provide visibility into IT performance. Software analytics can detect anomalies and determine their causes and the areas it affects.[44]

Splunk Security Orchestration, Automation and Response (SOAR) free community edition, is free for as long as you want, up to 100 actions/day to automate tasks, orchestrate workflows, and reduce incident response times for cloud, on-premises or hybrid deployments.[52][53]

Cloud transformation

In 2016, Google announced its cloud platform would integrate with Splunk to expand in areas like IT ops, security, and compliance.[54] The company also announced additional machine learning capabilities for several of its major product offerings, which are installed on top of the platform.[55][56] Splunk Cloud received FedRAMP authorization from the General Services Administration FedRAMP Program Management Office at the moderate level in 2019, enabling Splunk to sell to the federal government.[57] This allows customers to access Google's AI and ML services and power them with data from Splunk.[58] Also, by integrating with Google Anthos and Google Cloud Security Command Center, Splunk data can be shared among different cloud-based applications.[58] To help companies manage the shift to a multi cloud environment, Splunk launched its Observability Cloud, which combines infrastructure monitoring, application performance monitoring, digital experience monitoring, log investigation, and incident response capabilities.[58] In 2020, the company announced that Splunk Cloud is available on the Google Cloud Platform and launched an initiative with Amazon Web Services to help customers migrate on-premises Splunk workloads to Splunk Cloud on the AWS cloud.[59]

In 2017, Splunk introduced Splunk Insights for ransomware, an analytics tool for assessing and investigating potential threats by ingesting event logs from multiple sources. The software is targeted toward smaller organizations like universities.[60][61] The company also launched Splunk Insights for AWS Cloud Monitoring, a service to facilitate enterprises' migration to Amazon Web Services' cloud.[62]

In 2018, Splunk introduced Splunk Industrial Asset Intelligence, which extracts information from IIoT(Industrial Internet of Things) data from various resources and presents its users with critical alerts.[63]

In 2019, Splunk announced new capabilities to its platform, including the general availability of Data Fabric Search and Data Stream Processor. Data Fabric Search uses datasets across different data stores, including those that are not Splunk-based, into a single view. The required data structure is only created when a query is run.[64]

Data Stream Processor is a real-time processing product that collects data from various sources and then distributes results to Splunk or other destinations. It allows role-based access to create alerts and reports based on data that is relevant for each individual.[64] In 2020, it was updated to allow it to access, process, and route real-time data from multiple cloud services.[58] Also, in 2019, Splunk rolled out Splunk Connected Experiences, which extends its data processing and analytics capabilities to augmented reality (AR), mobile devices, and mobile applications.[65]

In 2020, Splunk announced  Splunk Enterprise 8.1 and the Splunk Cloud edition. They include stream processing, machine learning, and multi-cloud capabilities.[66]

In October 2019, Splunk announced the integration of its security tools - including security information and event management (SIEM), user behavior analytics (UBA), and security orchestration, automation, and response (Splunk Phantom) — into the new Splunk Mission Control.[67][68]

In 2019, Splunk introduced an application performance monitoring (APM) platform, SignalFx Microservices APM, that pairs “no-sample’ monitoring and analysis features with Omnition's full-fidelity tracing capabilities. Splunk also announced that a capability called Kubernetes Navigator would be available through their product, SignalFx Infrastructure Monitoring.[69]

Splunkbase

Splunkbase

Splunkbase is a community hosted by Splunk where users can go to find apps and add-ons for Splunk, which can improve the functionality and usefulness of Splunk, as well as provide a quick and easy interface for specific use cases and/or vendor products. As of October 2019, more than 2,000 apps were available on the site.[70]

Integrations on Splunkbase include the Splunk App for New Relic,[71] the ForeScout Extended Module for Splunk,[72] and Splunk App for AWS.[73]

Sponsorships

McLaren

Starting in 2020, Splunk announced a partnership with the McLaren Formula One team, sponsoring the team and working with them to provide data analysis and insight on racing performance.[74]

Splunk worked with McLaren Racing for several years, evaluating the performance data pulled from the nearly 300 sensors on every racecar, before becoming McLaren's official technology partner in February 2020.[75][76] The partnership resulted in Splunk deployed across the McLaren Group.[77][75] This included using Splunk to interpret data from McLaren's e-sports team.[75] As part of the partnership, Splunk's logo was added to the sidepod and cockpit surrounds of the MCL35 racecar.[78][79]

Trek-Segafredo

In November 2018, Splunk signed a sponsorship deal with the Trek-Segafredo professional road cycling team; the partnership started in 2019. Splunk replaced CA Industries as the company's technology partner.[80] Splunk provides data analysis for the company, including analysis on riders, coaches, and mechanics.[81] Team jerseys, bikes, and vehicles carry Splunk branding.[81] Splunk also participates in Trek's race hospitality program.[81]

References

  1. ↑ "US SEC: Form 10-K Splunk Inc. (FY Jan. 31, 2023)". U.S. Securities and Exchange Commission. March 23, 2023.
  2. ↑ Waxmann, Laura (May 7, 2022). "Splunk lists S.F. corporate headquarters for lease". American City Business Journals. A spokesperson for the company said Friday that Splunk's headquarters will remain in San Francisco, but will be consolidated into an adjacent building leased by the company.
  3. 1 2 "How Splunk Is Riding IT Search Toward an IPO — Tech News and Analysis". Giga OM. December 17, 2010. Archived from the original on August 20, 2011. Retrieved April 22, 2013.
  4. ↑ Tam, Pui-Wing (September 9, 2009). "Start-Ups Aim to Help Tame Corporate Data". Wall Street Journal – via www.wsj.com.
  5. ↑ Woods, Dan (January 6, 2011). "Business Intelligence and the Data Center". citoresearch.com. Archived from the original on March 20, 2012.
  6. ↑ Central, CIO (December 15, 2010). "How CIOs Should Be Helping Marketers". Forbes.
  7. 1 2 Schuetz, Molly; Manson, Katrina (September 21, 2023). "Cisco Strikes $28 Billion Deal for Splunk in Biggest Buy Yet". Bloomberg.
  8. ↑ Not to be confused with Rob Das, the Dutch film and television actor, director, and writer
  9. ↑ Robb, Drew (August 21, 2006). "Splunk Inc.'s Splunk Data Center Search Party". Computerworld. Retrieved June 11, 2021.
  10. ↑ "Splunk search engine raises $25 million". IT PRO. September 12, 2007.
  11. ↑ "IT search company Splunk reaches profitability". VentureBeat. October 14, 2009. Retrieved April 22, 2013.
  12. ↑ Rusli, Evelyn (April 19, 2012). "Splunk Soars as Investors Embrace Data Boom". The New York Times. Retrieved March 8, 2016.
  13. 1 2 Cohan, Peter (15 August 2018). "3 Well-Financed Startups Aspire To Displace Splunk". Forbes. Archived from the original on 16 August 2018. Retrieved 14 October 2019. Since going public in April 2012, its stock price has gone up and down — but as of August 15, its shares had risen 27.7% in 2018 yielding a market capitalization of $14.8 billion.
  14. ↑ "Splunk Announces Agreement to Acquire BugSense". Splunk. Archived from the original on September 22, 2013. Retrieved September 16, 2013.
  15. ↑ "Splunk Acquires Bugsense". TechCrunch. September 16, 2013.
  16. ↑ December 2013, Jamie Hinks 10 (December 10, 2013). "Splunk completes Cloudmeter acquisition". ITProPortal. Retrieved October 8, 2020.{{cite web}}: CS1 maint: numeric names: authors list (link)
  17. ↑ "Vancouver's Metafor Acquired by Splunk". Digital Magazine. June 29, 2015. Retrieved October 8, 2020.
  18. ↑ "Splunk acquires cybersecurity startup Caspida for $190M". Venturebeat. July 9, 2015.
  19. ↑ "Angela Messer: Booz Allen-Splunk Cyber Alliance Blends Data, Experience". GovCon. October 15, 2015.
  20. ↑ Symington, Steve (October 6, 2016). "Why Splunk, Inc. Just Dedicated $100 Million to Philanthropy". The Motley Fool. Retrieved April 3, 2017.
  21. ↑ Verhage, Julie (April 12, 2017). "These Are the Highest-Paying Companies in America". Bloomberg Business. Retrieved April 18, 2017.
  22. ↑ "25 Highest Paying Companies in America for 2017 | Glassdoor". Glassdoor Blog. April 12, 2017. Retrieved October 8, 2020.
  23. ↑ "Document". www.sec.gov. Retrieved December 4, 2020.
  24. ↑ Dignan, Larry. "Splunk acquires SignalSense, beefs up machine learning, security expertise". ZDNet. Retrieved October 8, 2020.
  25. ↑ Martin Banks (September 27, 2017). "Splunk .conf - one machine log to bind them all". diginomica. Retrieved August 11, 2021.
  26. ↑ Gagliordi, Natalie. "Splunk buys IP assets of smaller rival Rocana | ZDNet". ZDNet. Retrieved November 15, 2017.
  27. ↑ "Splunk Closes Acquisition of Phantom". Splunk. Retrieved April 30, 2018.
  28. ↑ "Splunk nabs on-call management startup VictorOps for $120M". TechCrunch. Retrieved June 11, 2018.
  29. ↑ "Acquisitions". Splunk. Retrieved October 25, 2021.
  30. ↑ Lardinois, Frederic (August 21, 2019). "Writer". TechCrunch. Retrieved September 5, 2019.
  31. ↑ Tully, Tim. "Splunk to Acquire Observability Innovator and Leading Open Source Contributor Omnition". Splunk blog. Splunk, Inc. Retrieved September 5, 2019.
  32. ↑ "Splunk launches venture funds with $150 million". San Francisco Business Times. Retrieved December 4, 2020.
  33. ↑ "Data analytics firm Splunk sees 81% jump in quarterly cloud software bookings". SiliconANGLE. May 21, 2020. Retrieved October 30, 2020.
  34. ↑ Gecgil, Tezcan (August 31, 2020). "Any Dip in Splunk Stock Is a Great Buying Opportunity". InvestorPlace. Retrieved November 13, 2020.
  35. 1 2 Canner, Ben (February 20, 2020). "What's Changed: 2020 Gartner Magic Quadrant for SIEM". Top SIEM Vendors, News & Reviews for Security Information and Event Management. Retrieved April 2, 2021.
  36. ↑ Canner, Ben (February 20, 2020). "What's Changed: 2020 Gartner Magic Quadrant for SIEM". Top SIEM Vendors, News & Reviews for Security Information and Event Management. Retrieved April 16, 2021.
  37. ↑ "Top Vendors Pushing the Boundaries of SIEM". toolbox. Retrieved April 16, 2021.
  38. ↑ Whiting, Rick (March 4, 2021). "Splunk: Deal-Closing Rate Rebounded In Fourth Quarter". CRN. Retrieved August 21, 2021.
  39. ↑ "Splunk Announces CEO Transition". Press release. November 15, 2021. Retrieved January 14, 2021.
  40. ↑ Novet, Jordan (November 15, 2021). "Splunk stock plunges as CEO Doug Merritt steps down". CNBC.
  41. ↑ Chin, Kimberly (March 2, 2022). "Splunk Post Higher 4Q Sales, Beating Estimates". Press release.
  42. ↑ Savitz, Eric (March 2, 2022). "Splunk Names a New CEO and Reports Strong Earnings". Barrons.
  43. ↑ Goswami, Rohan (November 1, 2023). "Splunk to cut 7% of workforce, or about 500 employees, ahead of Cisco acquisition". CNBC. Archived from the original on November 1, 2023. Retrieved November 1, 2023.
  44. 1 2 Olavsrud, Thor (September 23, 2015). "Splunk updates platform, adds monitoring and analytics services". CIO magazine. International Data Group. Archived from the original on March 10, 2016. Retrieved April 5, 2017.
  45. ↑ Franklin Jr., Curtis (October 16, 2015). "SAP, Splunk Dashboards Aim To Satisfy Data Hunger". InformationWeek. Retrieved March 24, 2016.
  46. ↑ Darrow, Barb (January 13, 2012). "Splunk IPO explained and why it matters". GigaOM. Retrieved March 24, 2016.
  47. ↑ "Splunk Storm brings log management to the cloud". InfoWorld. August 28, 2012.
  48. ↑ "Splunk Announces General Availability of Splunk Cloud". Wall Street Journal Marketwatch. October 1, 2013.
  49. ↑ "Has Splunk Turned Its Back on the DevOps Community?". DZone.com.
  50. ↑ "Splunk Spawns Hunk Hadoop Tool". Information Week. June 18, 2013.
  51. ↑ "Splunk announces lower cost light version of its log analyticsl". Infoworld. March 10, 2015.
  52. ↑ "Free Trials and Downloads". Splunk. Archived from the original on February 2, 2023. Retrieved February 2, 2023.
  53. ↑ "Splunk SOAR". Splunk. Archived from the original on January 29, 2023. Retrieved February 2, 2023.
  54. ↑ Lunden, Ingrid (March 23, 2016). "Google ramps up hybrid cloud security strategy with Splunk, BMC and Tenable partnerships". TechCrunch. Retrieved March 23, 2016.
  55. ↑ Olavsrud, Thor (September 27, 2016). "Splunk puts machine learning at center of operational intelligence portfolio". CIO. International Data Group. Archived from the original on September 25, 2018. Retrieved April 5, 2017.
  56. ↑ Carey, Scott (September 28, 2016). "Splunk brings machine learning capabilities into its tools and launches toolkit for customer's own algorithms". Computerworld UK. Archived from the original on May 8, 2017. Retrieved April 5, 2017.
  57. ↑ "Why Is Splunk (SPLK) Up 19% Since Last Earnings Report?". finance.yahoo.com. December 21, 2019. Retrieved November 23, 2020.
  58. 1 2 3 4 "Splunk takes aim at multicloud, machine learning and observability". SiliconANGLE. October 20, 2020. Retrieved June 18, 2021.
  59. ↑ "Splunk transition to cloud 'accelerated' ahead of expectations". CRN Australia. Retrieved November 30, 2020.
  60. ↑ Bolkan, Joshua (June 28, 2017). "Splunk Debuts New Security Tool for Ransomware". Campus Technology. Retrieved July 10, 2017.
  61. ↑ Tate, Emily (July 11, 2017). "Splunk releases solution that helps defend universities from ransomware". EdScoop. Retrieved July 11, 2017.
  62. ↑ Wheatley, Mike (August 14, 2017). "Splunk intros new monitoring tool for AWS cloud users". SiliconANGLE. Retrieved August 15, 2017.
  63. ↑ "Splunk turns data processing chops to Industrial IoT – TechCrunch". techcrunch.com. April 10, 2018. Retrieved April 23, 2018.
  64. 1 2 Volk von Torsten (October 28, 2019). "Demystifying Splunk's Data-to-Everything Vision". Cloud Advisors (in German). Retrieved August 11, 2021.
  65. ↑ "Splunk Buys Another Startup, Launches Mission Control - SDxCentral". SDxCentral. October 22, 2019. Retrieved December 11, 2020.
  66. ↑ Whiting, Rick (October 20, 2020). "Splunk Debuts Observability Suite, Acquires Pair Of Monitoring Tool Startups". CRN. Retrieved June 11, 2021.
  67. ↑ "Splunk Buys Another Startup, Launches Mission Control - SDxCentral". SDxCentral. October 22, 2019. Retrieved December 14, 2020.
  68. ↑ "Splunk enhances its Security Operations Suite to modernize and unify the SOC". Help Net Security. October 23, 2019. Retrieved December 14, 2020.
  69. ↑ "Splunk Dives Into Cloud Native Application Monitoring - SDxCentral". SDxCentral. March 31, 2020. Retrieved December 29, 2020.
  70. ↑ "Home | Splunkbase". splunkbase.splunk.com. Retrieved January 5, 2021.
  71. ↑ Dignan, Larry (March 22, 2017). "Splunk, New Relic forge integration pact". ZDNet. Retrieved April 5, 2017.
  72. ↑ Miller, Ron (January 5, 2017). "ForeScout-Splunk integration hopes to bring greater insight to IoT security". TechCrunch. Retrieved April 5, 2017.
  73. ↑ Kepes, Ben (November 30, 2016). "Splunk goes down-market and leverages AWS' market dominance". Computerworld. Retrieved April 5, 2017.
  74. ↑ "Splunk and McLaren Racing: Driven by Data". Splunk. February 8, 2020.
  75. 1 2 3 "McLaren Racing uses Splunk to analyse 1.5 TB of data every race weekend". diginomica. November 30, 2020. Retrieved January 29, 2021.
  76. ↑ Chokhani, Darshan (February 10, 2020). "McLaren gets Darktrace and Splunk as new F1 partners ahead of 2020 season". DriveTribe. Retrieved January 29, 2021.
  77. ↑ February 2020, Mike Moore 09 (February 9, 2020). "McLaren signs up Splunk and Darktrace as F1 2020 technology partners". TechRadar. Retrieved January 29, 2021.{{cite web}}: CS1 maint: numeric names: authors list (link)
  78. ↑ "McLaren add Splunk as latest technology partner - SportsPro Media". www.sportspromedia.com. February 7, 2020. Retrieved February 12, 2021.
  79. ↑ Chokhani, Darshan (February 10, 2020). "McLaren gets Darktrace and Splunk as new F1 partners ahead of 2020 season". DriveTribe. Retrieved February 12, 2021.
  80. ↑ "UAE Team Emirates extend with Mirza and Mori – News Shorts". cyclingnews. October 31, 2018. Retrieved February 5, 2021.
  81. 1 2 3 "Trek-Segafredo teams up with Splunk". SportBusiness Sponsorship. October 31, 2018. Retrieved February 26, 2021.
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