Permiso Security nails down $10m seed to scale team and footprint

Cloud identity detection and response firm Permiso Security has secured $10m from a seed funding round led by Point72 Ventures.

Other firms participating in the round were Foundation Capital, 11.2 Capital, Rain Capital and Work-Bench. A range of angel investors also took part, including ex-Netflix Information Security VP Jason Chan, Hashicorp CSO Talha Tariq, Databricks head of product security Travis McPeak, PassiveTotal founder Brandon Dixon and JupiterOne CMO Tyler Shields.

In addition, Nutanix CISO Sebastian Goodwin, CISO Alex Armani, Box CISO Julien Soriano, Robinhood CSO Caleb Sima and TIAA CISO Tim Byrd will join Permiso in advisory positions.

Permiso claims it has pioneered a unique identity-based detection and response platform to profile and monitor human and machine identities and credentials for malicious or anomalous behaviours that could indicate compromised credentials, policy violations or insider threats.

The firm added that customer use Permiso to gain visibility into their identity landscape to mature their cloud security programs, detect credential abuse and investigate smarter and faster.

According to Permiso, it intends to use the new funding to continue scaling its engineering team, expanding its current customer footprint and building partnerships. co-CEO Paul Nguyen said, “Permiso was founded with the goal of identifying the next evolution of cloud security. After being in the security industry for 20 years, it’s a bit of déjà vu again with cloud security. Cloud security tools today started the way we did 20 years ago with solutions to gain visibility into what’s in my environment and asking, ‘am I vulnerable?’ We saw the next evolution with the advent of Advanced Persistent Threats back then and the emergence of detection and response solutions like FireEye which is the opportunity we see for Permiso today in public cloud.” co-CEO Jason Martin added, “We’ve done hundreds of customer interviews and worked with over 10 co-development customers over the last year and we find that when it comes to cloud infrastructure runtime security, most organisations are collecting data in their SIEM or a data lake; however, they can’t really make sense of it rapidly or in a manner that answers the questions their cloud security and infrastructure teams have.”

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