From: RegTech Analyst
2019 continues to be a good year for cybersecurity investments as Satori Cyber closes a new funding round.
Having just come out of beta with its first cloud security product, Satori Cyber has also announced the close of its new seed funding round.
YL Ventures, the American-Israeli venture capital firm, led the $5.25m round.
The Tel Aviv-based startup offers a digital defence solution for companies using data in the cloud, attempting to prevent the growing risk of companies being unable to protect their data as it moves from one server to the next.
“Until now, security teams have relied on a combination of highly segregated and restrictive data access and one-off technology-specific access controls within each data store, which has only slowed enterprises down,” Eldad Chai, CEO and co-founder of Satori Cyber, told TechCrunch.
“The Satori Cyber platform streamlines this process, accelerates data access and provides a holistic view across all organizational data flows, data stores and access, as well as granular access controls, to accelerate an organization’s data strategy without those constraints.”
The news comes as the cybersecurity landscape is rapidly growing, exemplified by its stake of the RegTech investment scene having grown over the past six years.
Having picked up 18.4% of investments going into the global RegTech scene in 2014, cybersecurity companies collected a whopping 36.9% of the cake in the first six months of 2019, according to RegTech Analyst’s research.
The second half of 2019 has seen no shortage of cybersecurity deals either, with CyberGRX and Secure Code Warrior being just two of the digital defence firms to have money injected into them during this period.
Moreover, resent research from Absolute Market Insights has estimated that the cybersecurity sector protecting financial services firms is expected to grow at a compound annual growth rate of 9.5% by 2027.
It is easy to see why investors feed their money into the industry.
The increasing automation and digitalisation of businesses around the world have also increased the risks of hack attacks.
One recent example of that is the huge hack attack suffered by Capital One earlier this year. The breach exposed 106 million of the bank’s customers.
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