Lacework Raises $ 525 Million to Automate Security and Compliance in the Cloud
Lacework, a four-year developer of automated containerized workload defense, intrusion detection, and compliance solutions, announced today that it has closed a funding round of $ 525 million that values the company at more than $ 1 billion.
Dan Hubbard said that the capital, coming after a year in which Lacework saw its revenue grow by 300%, will accelerate Lacework’s product development efforts as it expands its marketing teams, partner ecosystem operations, engineering and research and development in the United States and Europe. According to a 2020 survey by LogicMonitor, approximately 83% of enterprise workloads have moved to the cloud, but the cloud is still vulnerable to cyberattacks IBM discovered last year that the average time to identify a breach was 206 days and Gartner predicts that 50% of companies will inadvertently expose components of their applications and cloud infrastructure to the Internet in 2021, compared to 25% in 2018.
The platform aims to close security gaps in DevOps environments and in the cloud by identifying threats targeting servers, containers, and cloud accounts. Your agent provides visibility into running processes and applications, using AI to detect anomalous behavior.
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At the same time, the agent monitors suspicious activities such as calls to the API and the use of administration consoles and administration accounts, ensure that the networks remain They can be secure by limiting access to vulnerable ports and enforcing “least access” privileges.
Important events are logged and piped to the Lacework cloud backend, regardless of whether they took place in public clouds such as Google Cloud Platform, Amazon Web Services, and Microsoft’s Azure or private data centers.
There, they are aggregated and used to create a baseline against In August, Lacework announced new ongoing host vulnerability monitoring, preflight checks, and continuous integration and deployment automation workflows. The new features will allow existing customers to accelerate threat investigation and remediation, as well as easily prioritize response to most cases. Active and critical security threats, the company said at the time.
The costly compromise threat has spawned a cybersecurity market that is projected to be worth $ 300 billion by 2024. Juniper Research estimates the number of digital records that will be stolen in 2023 by 33 billion, compared to 12 billion stolen in 2018. The cybercrime economy is estimated to have grown to $ 1.5 trillion in annual profits and damages will reach $ 6 trillion in 2021.
” Building in the cloud is the biggest change the IT industry has ever seen, “Hubbard told VentureBeat via email. require a new approach to security that is critical for our customers to adapt and scale as fast as cloud innovation. This round allows us to build on our leadership position in product differentiation, which is vital in a transformative marketplace driven by both fast-paced builders and sophisticated attackers. “
Mountain View, Lacework’s California financing round announced today, was led by Sutter Hill Ventures and Altimeter Capital with a strategic investment from Snowflake Ventures. This increased the company’s total after a tranche of $ 42 million in September 2019 to over $ 600 million.
VentureBeat / TechConflict.Com