Orca Security has joined the cybersecurity unicorn club after a $210m Series C pushed its valuation to $1.2bn.
CapitalG, Alphabet’s independent growth fund and Redpoint Ventures served as the lead investors for the round. Other backers included GGV Capital, ICONIQ Growth and angel syndicate Silicon Valley CISO Investments.
Following the close of the round, Orca claims to be one of the fastest cybersecurity companies to reach unicorn status, doing so within just 27 months.
Capital from this round will enable the cybersecurity company to bolster its work in cloud security. Orca is also looking to grow its global partner programme in the US, Europe, Australia and Japan.
The new investment comes just months after the company raised $55m in its Series B, which closed in December 2020 with backing from GGV Capital and YL Ventures.
Orca was built in the cloud and for the cloud. It treats each customer’s cloud estate as an interconnected web of assets, prioritising risk based on the underlying security issue, as well as environmental context.
The SideScanning technology reads the cloud configuration and workloads’ runtime block storage out-of-band to detect vulnerabilities, malware, misconfigurations, lateral movement risk, authentication risk, secret keys, unsecured PII and more.
This investment comes after a period of strong growth for the company. In 2020, the RegTech company achieved a 1000% year-over-year growth and added several new clients.
Orca Security CEO and co-founder Avi Shua said, “By creating a security solution that actually works, we are solving a fundamental problem that has been broken since the inception of cloud security
“In the face of increasing threats and rapidly expanding cloud estates, organizations can’t be burdened with installing and maintaining agents and sidecars. We enable our customers to instantly protect their cloud environments, eliminate attack paths, fuel digital transformation, and meet compliance mandates.”
By the end of the year, the RegTech hopes to have nearly tripled its R&D and sales teams since its Series A in May 2020.
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