Panther Labs raised US$120 million in fresh capital as part of an early-stage financing round led by investment manager Coatue, valuing the cloud-based security analytics platform at US$1.4 billion. The Series B funding includes investments from ICONIQ Growth, Snowflake Ventures, Lightspeed Venture Partners, S28 Capital and Innovation Endeavors, according to a statement seen by Reuters ahead of the announcement. A higher incidence of data theft since the pandemic has boosted investor interest in the technology and software sector this year that has helped startups fetch sky-high valuations.