Cloud-native digital forensics platform Cado Security has scored $10m in its Series A round, which will help it support the “significant demand” for its platform.
Blossom Capital served as the lead investor, with commitments also coming from Ten Eleven Ventures.
This investment comes just months after the RegTech raised $1.5m in seed funding. It claims this rapid turnaround for funding was due to significant demand for its platform.
The close of the Series A round brings the company’s total capital raised to $11.5m.
Funds from the round will be used to support the expansion of the company’s engineering, customer support and go-to-market operations.
Nearly 70% of enterprises are planning to accelerate their spending in cloud services during 2021, according to a report from Gartner. Cado Security claims that as more data moves to the cloud, attacks will increase significantly and put more pressures on defence teams.
Blossom Capital partner Imran Ghory said, “Over the past year, enterprises have compressed their cloud adoption timelines while protecting the applications that enable their remote workforces.
“Yet as high-profile breaches like SolarWinds illustrate, the complexity of cloud environments makes rapid investigation and response extremely difficult since security analysts typically are not trained as cloud experts. Cado Security solves for this with an elegant solution that automates time-consuming tasks like capturing forensically sound cloud data so security teams can move faster and more efficiently.”
Cado Security offers a cloud-native digital forensics platform that helps protect cloud and container environments. Its response feature automates data collection from various sources, whilst also protecting on-premises systems.
Its technology can scale up and down to supply rapid processing when needed. Its analytics engine can correlate all systems, users, processes and files so analysts can quickly visualise the scope and conduct of an investigation.
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