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!
Data security has become more complex due to the proliferation of data, an explosion of microservices, rapid cloud adoption, hybrid work environments, compliance, remote work and more.
“Today’s enterprises ﬁnd their data scattered throughout their various cloud environments with limited visibility of where sensitive data resides. It’s a massive problem that current cloud security offerings aren’t equipped to handle,” said Amer Deeba, cofounder and CEO at Normalyze.
“We built Normalyze to classify and secure sensitive data across all public clouds,” Deeba said. Normalyze announced today that it’s coming out of stealth with $22.2 million in series A funding. This round brings the company’s total funding to $26.6 million to date.
“Our graph-powered platform is a hub that connects all data with assets, identities, accesses, misconﬁgurations and vulnerabilities to help security teams continuously discover sensitive information, determine attack paths and automate remediation efforts to secure it,” said Ravi Ithal, Normalyze cofounder and CTO.
“With the Normalyze one-pass scanner, users can scan structured and unstructured data stores to discover sensitive information based on predeﬁned compliance proﬁles for PII, GDPR, HIPAA and more with minimal upfront conﬁguration and cost – all while ensuring data never leaves their cloud environments,” Ithal said.
Organizations embrace multicloud, but security may suffer
Multicloud architectures are more complex and more challenging to manage to the point where only 13.6% of tech leaders believe they’ve mastered cloud security.
The Flexera 2022 State of the Cloud Report survey shows that the top C-suite challenges are security, expertise and spend, which are key reasons why a recent report from Research and Markets estimates the Global Multicloud Management Market at $6.4 billion.
A detailed review of cloud cost-optimization levers from McKinsey predicts more than $1 trillion in run-rate EBITDA across Fortune 500 companies is up for grabs in 2030, a number that will undoubtedly grow as cloud services facilitate the adoption of emergent technologies such as augmented reality and blockchain.
A recent report from Fortune Business Insights comparing the leaders in cloud computing security shows that Trend Micro Incorporated, Cisco Systems and McAfee continue to lead the pack as the top three.
They stay on top because of decades of brand recognition, solid platforms with proven success, continued innovation in offering new relevant services (such as Kubernetes) and interesting tiered-pricing options for different enterprise levels.
“Securing data across multiple cloud environments has become a critical pillar of companies’ security programs today,” said Dharmesh Thakker, a Battery Ventures general partner. “Normalyze has built a powerful platform that gives devops specialists, security engineers and CISOs better visibility into their ‘data sprawl’; the links between infrastructure, applications and users; and the automation to detect and fix security issues in real time. We’re excited to partner with the company’s top-notch executives, some of whom honed their skills at companies like Netskope and Qualys, to finally bring a data-centric view to cloud security.”
A lasso around data sprawl to prevent data loss
“Data proliferation has become a real problem as enterprises continue to move workloads to the cloud, leaving security teams scrambling to ﬁgure out ways to manage and secure sensitive data,” said Arif Janmohamed, partner at Lightspeed.
“Normalyze solves this problem at scale by providing precise visibility to security teams on sensitive data and surrounding attack paths across all cloud environments,” Janmohamed said.
Today the company is launching with a model that supports all public cloud platforms. With full data-discovery capabilities, access to datastores and daily cloud scans, security engineers and devops specialists alike will be able to visualize all of their cloud data, user access setup and conﬁgurations.
“It’s ideal that I can use the same platform as my engineers and devops teams, giving us the ability to visualize our cloud environments in real time and create signatures that combine sensitive data with access details, conﬁgurations and vulnerabilities to continuously discover attack paths and drive remediation,” said Bernard Brantley, CISO at Corelight.
The round of funding will be used to expand the engineering and devops teams, and build out the company’s go-to-market and sales strategies. The company is founded by security veterans Ravi Ithal and Amer Deeba, funded by Lightspeed Venture Partners and Battery Ventures, and calls Corelight and Netskope customers.
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.