Lundgren brings decades of experience building and advising cybersecurity companies to the firm’s growing portfolio of startups and scale-ups
BURLINGAME, Calif., Sept. 25, 2024 — Ten Eleven Ventures, the original venture capital firm dedicated to global, stage-agnostic cybersecurity investing, today announced that security industry leader Scott Lundgren has joined the firm as Operating Partner and CTO. In this new role, Scott will work with Ten Eleven portfolio companies to chart technical vision, collaborate with CISOs, launch new products, and navigate other strategic initiatives.
Lundgren brings twenty years of deep technical and cybersecurity product experience to the firm. Notably, he was a founding team member and CTO of Carbon Black, where he was part of the company’s growth from startup to IPO and later acquisition by VMware. At Carbon Black, Lundgren held technical roles of all types, including Chief Architect, SVP of Engineering, and SVP of Product Management, leading teams working on product design, roadmaps, coding and review, and R&D strategy. He oversaw the growth of the business from $0 to over $400M in ARR, and from zero to over 1,600 employees. Before Carbon Black, Lundgren worked in offensive and defensive security roles supporting Microsoft, the United States Air Force, and national intelligence operations. He has many years of experience as a threat hunter, performing operations and building capabilities to look for sophisticated, embedded attackers across worldwide networks. Lundgren also currently sits on the board of Ten Eleven’s portfolio company NetSPI.
“We’ve always admired Scott as an action-oriented operator, humble and compassionate leader, and visionary in our industry,” said Mark Hatfield, co-founder and General Partner at Ten Eleven Ventures. “His wealth of experience will enhance the strategic support and practical guidance we provide to our portfolio companies. Scott is a pleasure to work with and someone we deeply respect. We’re excited about his insights in identifying new investment opportunities and thrilled to work with him on how we can best support innovative cybersecurity founders.”
Lundgren shared his enthusiasm for the partnership: “Joining Ten Eleven Ventures is an exciting opportunity to contribute to the success of the next generation of cybersecurity founders. During my eleven years at Carbon Black, I learned a tremendous amount about building and delivering products, leading technical teams, and working with security buyers at large organizations. I also gained a first-hand understanding of the incredible amount of effort and energy needed to build something impactful. As a part of the Ten Eleven team, I can use what I’ve learned to support and empower cybersecurity founders so that they can create products that truly make a difference in the world. Ten Eleven is a firm with deep cybersecurity expertise, a focus on technically superior products, and a genuine commitment to supporting companies through every stage of their growth. I’m excited to be part of a team that truly understands and fosters success in this critical field.”
News of Lundgren joining the firm follows the appointment of several new members to the Ten Eleven team. Sid Subramanian, formerly of OpenView, has joined the Boston office as an Associate, and Hattie Egan-Young, formerly of Insight Partners, recently joined the firm as Senior Director of Marketing.
The firm has also made Strategic Advisory Board member Grace Cassy, co-founder of the cybersecurity investment firm CyLon and member of the UK government’s Strategic Defence Review team, Executive Chair of their Security Trust and Resilience (STAR) leaders network. The network offers opportunities for security professionals to build their knowledge and careers, connecting them with innovators and exploring current issues in technology, geopolitics, and global markets.
Alex Doll, co-founder of the firm and Managing Partner, noted, “Ten Eleven continues to grow by adding talented individuals we know will help us find and support the next generation of leading cybersecurity entrepreneurs. Empathy for the entrepreneurial journey plus deep industry knowledge in our specialized and highly technical industry continues to be the formula for building a world-class cybersecurity venture capital firm. We are grateful to have the opportunity to do this work, and look forward to our next chapter ahead.”
About Ten Eleven Ventures
Ten Eleven Ventures is the original cybersecurity-focused, global, and stage agnostic investment firm. The firm finds, invests, and helps grow top cybersecurity companies addressing critical digital security needs, tapping its team, network, and experience to help build successful businesses. Since its founding, Ten Eleven Ventures has raised over $US 1 billion and made over 50 cybersecurity investments worldwide, including KnowBe4, Darktrace, Axis Security, Twistlock, Verodin, Cylance, and Ping Identity. For more information, please visit 1011vc.com.
Media Contact
Monsy Carlo
Ten Eleven Ventures
[email protected]
SOURCE Ten Eleven Ventures
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