We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 - 28. Join AI and data leaders for insightful talks and exciting networking opportunities. Register today!
Lacework wants to bring automation, speed, and scale to cloud security, and for that it has raised $24 million in a second round of funding.
Sutter Hill Ventures led the round, which Lacework will use to beef up its global sales and marketing capabilities. It will also accelerate adoption and deployment of its security solution, which empowers organizations with automated, end-to-end security and compliance for public clouds. Lacework said it sets itself apart by using machine learning to analyze events and look for security anomalies.
Additional investors include Liberty Global Ventures, Spike Ventures, the Web Investment Network (WIN), and AME Cloud Ventures. To date, Lacework’s total funding is $32.7 million.
“Lacework’s platform is helping enterprises like Liberty Global offer better service to its customers by enabling a secure cloud platform,” said Ankur Prakash, vice president at Liberty Global Ventures, in a statement. “Our investment acknowledges Lacework’s success in reducing speed and scale constraints facing business when dealing with issues around cloud security.”
Security remains a constant roadblock for many organizations wanting to innovate quickly within public clouds. Market researcher ESG Global reported on the obvious opportunity for cloud security innovations, saying 32 percent of enterprises have abandoned traditional security technologies because they can’t be used effectively for cloud security.
Lacework said it is transforming the security industry by addressing the unique demands of the cloud: speed, scale, and automation. With the Lacework Cloud Security Platform, security teams can minimize security risks, detect threats, and close compliance gaps without slowing down the pace of innovation, the company said.
“Public clouds have become the de-facto platforms where businesses innovate at speed. Our vision at Lacework is to become the de-facto security platform that enables these organizations to build cloud services fast and remain safe,” said Stefan Dyckerhoff, CEO of Lacework, in a statement. “With more than 20 customers in production, Lacework is a proven solution that delivers effective cloud protection at scale and with the speed required for high-velocity public clouds.”
He added, “Fast-growth companies with large footprints in public clouds have achieved continuous compliance and end-to-end security across highly dynamic development and production environments. It’s time to combine automation, machine learning and analytics with human expertise to deliver security at scale.”
The Lacework Cloud Security Platform uses machine learning to analyze the billions of events generated by modern clouds, baseline the normal behavior of each cloud deployment, and automate the detection and scoring of risks across the cloud’s multiple attack surfaces. The result is continuous, end-to-end and more effective security for cloud environments.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.