Orca Security, an innovative Israeli cloud security company, announces that it has raised $550 million in its extended Series C fundraising round led by Temasek, an investment company headquartered in Singapore. The round boosted its valuation 50% in just seven months to $1.8 Billion. Orca Security’s C round also includes substantial participation from venture capital firms CapitalG (Alphabet’s independent growth fund), Redpoint Ventures, GGV, ICONIQ Capital, Lone Pine Capital, Stripes, Adams Street Partners, Willoughby Capital, and Harmony Partners.
According to Gartner®, “By 2023, 70% of all enterprise workloads will be deployed in cloud infrastructure and platform services, up from 40% in 2020.” Under this paradigm shift, agent-based solutions are ill-suited to meet the increased complexity and ephemeral nature of the cloud. Enterprise security teams are turning to Orca’s Cloud-Native Application Protection Platform (CNAPP) to simplify the detection and prioritization of security issues in minutes, not months.
“Customers are fed up with agent-based tools that claim run-time protection but de facto are little more than a gimmick, typically reach only a fraction of the environment, and don’t provide the context security teams desperately need to prioritize critical alerts,” says Avi Shua, CEO and co-founder, Orca Security. “We provide fast agentless deployment, 100 percent coverage of all cloud assets, and automatic prioritization of the alerts that demand quick action.”
Orca Security’s patent-pending SideScanning™ technology collects data directly from cloud provider APIs and the workload’s runtime block storage out-of-band. This means that after a quick and easy one-time deployment, Orca Security surfaces critical attack vectors, composed of the most serious risks such as vulnerabilities, malware, misconfigurations, weak and leaked passwords, lateral movement risk, misplaced PII, and more. We believe that this technical innovation helped earn the company recognition as a 2021 Gartner Cool Vendor.
Orca Security will leverage Temasek’s investment portfolio and global network to deepen its penetration into the APAC region and beyond, and into key industries such as telecom, financial services, transportation, consumer goods, and more. The company plans to have over a dozen employees in the APAC region by the end of 2021.It will also continue to expand its footprint and customer base in the UK, and across the EMEA region.
Furthermore, the company is expanding its global partner program and is continuing to build rapid customer traction with partners in the U.S., Europe, India, Australia, New Zealand, Latin America and Japan, Orca recently launched versions of its website in German, French, Chinese, and Japanese in order to better support its partners, prospects, and customers.