Israeli cloud security company Orca Security today announced that it has raised $340 million more in its extended Series C financing round led by Singapore investment company Temasek, an investment company headquartered in Singapore.
This brings to $550 million, the amount raised in the Series C round and Orca's valuation has risen 50% to $1.8 billion since the first part of the round was completed in March. However, much of the money in the latest round has been raised because YL Ventures has sold most of its stake in the company for an estimated $200-250 million, reducing its holding from 20% to 5%. Orca declined to disclose details on the matter.
Orca Security’s C round also includes participation from new investors SAIC and Splunk Ventures as well as CapitalG (Alphabet’s independent growth fund), Redpoint Ventures, GGV, ICONIQ Capital, Lone Pine Capital, Stripes, Adams Street Partners, Willoughby Capital, and Harmony Partners.
Orca Security, which was founded in 2019 by eight former Check Point executives led by CEO Avi Shua and CPO Gil Geron, has developed a cloud-native application protection platform (CNAPP) to simplify the detection and prioritization of security issues in minutes. The company has 200 employees including 90 in Israel.
Shua said, "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. Our growth is exploding because Orca Security simply works. 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. It accomplishes this while guaranteeing 100 percent security coverage for all cloud assets including virtual machines, containers, serverless functions, cloud storage buckets, VPCs, cryptographic keys, security groups, and more.
Published by Globes, Israel business news - en.globes.co.il - on October 5, 2021
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