Security data firm Monad has raised $17m from a Series A funding round led by Index Ventures.
The round also saw participation from Sequioa Capital with individual backing from Monad CEO Christian Almenar and Jacolon Walker. Sequioa partner Shaun Maguire and Index Ventures partner Carlos Gonzalez-Cadenas as member of the board of directors and board observer respectively.
Monad claims its platform helps customers connect data from various security tools into any data warehouse, which makes it easier for users to build security applications and compliance workflows.
The platform also supports teams to extract and connect data from their security tools, centralise that data within a data warehouse and normalise and enrich data so work teams are provided with the correct insights they need to fully secure their data and systems.
According to Monad, it intends to use the newly raised capital to scale its development efforts for its security data cloud platform.
Monad CEO and co-founder Almenar said, “Security is fundamentally a big data problem. Customers are often unable to access their security data in the streamlined manner that DevOps and cloud engineering teams need to build their apps quickly while also addressing their most pressing security and compliance challenges.
“We founded Monad to solve this security data challenge at scale and liberate customers’ security data from siloed tools to make it accessible via any data warehouse of choice. We’re excited to partner with such an experienced team of investors as we look to accelerate the use of our data security cloud platform and deliver it to companies of all sizes.”
Gonzalez-Cadenas added, “There are more security tools than ever, but because of the complexity of the environments and the siloed nature of the different security tools, breaches continue to happen. Cybersecurity is fundamentally a data management challenge that Monad is poised to solve.
“Their cloud-native security data platform makes it easy to extract the data from the different security tools already adopted by organisations, integrate it into a clean, connected model and unlock its hidden value. We believe that the Monad team is ready to lead this journey, and we’re pleased to announce that we’re leading their A-round investment and the launch of their platform.”
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