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Today, security automation platform provider Cerby announced that it has raised $12 million in funding.
The company offers enterprises a registration and automation platform where users can register apps not managed by the IT team, add permissions, and automatically identify and address security gaps whenever they emerge.
The solution provides technical decision makers with a platform that secures decentralized remote working environments, by encouraging users to register their apps so they can be audited and secured.
A new approach to securing non-IT-managed apps
Cerby’s release comes as the number of non-IT managed apps used in the workplace has skyrocketed to the degree where a high number of applications that organizations rely on a day-to-day basis aren’t properly managed or secured.
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“Nowadays one out of every two apps used in the workplace is purchased by a non-IT buyer (globally, this is about $400 billion in technology spending). While this is great for productivity, it is bad for security since these apps are several times more likely to be hacked by malicious third parties,” said Belsasar Lepe, CEO and cofounder of Cerby in an interview.
“Cerby helps detect and auto secure these apps without any manual work required by IT or non-IT groups,” he said.
“Our focus is on putting IT and non-IT buyers in the driver’s seat and allowing them to close any gaps that their most frequently used apps have. Historically, both buyers would have to wait on the app developers to close a gap around SSO or around deprovisioning user accounts. With our system, they don’t need to wait. They can close the gaps themselves leveraging our automation system,” he said.
Changing the face of security automation
Cerby is competing against other security automation providers, particularly against those in the Security Orchestration Automation and Response (SOAR) market, which researchers anticipate will reach $2 billion by 2025.
Other security automation tools on the market include Rapid7’s InsightConnect, a SOAR solution that enables security teams to automate security tasks from incident response to vulnerability management, and helped contribute to the company’s annual recurring revenue of $432.9 million.
However, Cerby is aiming to differentiate itself from traditional security automation providers by moving automation capabilities beyond the hands of IT teams and into the hands of general employees.
“Cerby is unique in that we specialize in identifying those app accounts and automating the complete lifecycle of those apps so users don’t have to worry about rotating passwords, enrolling 2FA [two-factor authentication], removing users, or turning off certain non-IT compliant settings. Many of the tools that focus on this category of apps still rely on the user to carry out important security tasks. We don’t. Everything is automated,” he said.
The organization plans to use the new investment to grow the company’s commercial and customer success teams, and to increase the size of its library of application integrations to support the top 5,000 most commonly used apps.
The funding round led by Ridge Ventures with participation from Capital, Founders Fund, Gokul Rajaram, Okta, Ventures, and Salesforce Ventures.
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