Cloud data security platform Dig Security has raised $34m in its Series A funding round
San Francisco-based venture capital firm SignalFire served as the lead investor. Contributions also came from Felicis, Okta Ventures, SignalFire venture partner Nir Polak and Tenable co-founder Jack Huffard.
As part of the investment, Polak has joined Dig’s board of directors.
Existing investor Team8 also joined the round.
This capital will help Dig speed up its go-to-market efforts to meet the rising demand for its platform. Dig also plans to develop new enhancements to its technology, as well as hire security research and customer support staff.
Dig is on a mission to build the largest data security company in the market. Its clients are fortune 500 companies, financial services, and business software and SaaS-based technology companies. Clients are from the US, Europe and Israel.
The Dig data security platform claims to be the industry’s first and only solution to combine data security posture management, data loss prevention and data detection and response.
It also claims to be the only data security solution in the market that offers real-time detection and response to threats against data. With this, it stops potential data breaches early in the kill chain. It supports all cloud infrastructures, including AWS and Azure. As well as popular data clouds like Snowflake and Databricks.
Dig Security CEO and co-founder Dan Benjamin said, “The global shift to the cloud has thrust unprecedented volumes of data into potentially risky data stores. As a result, we’ve seen a sharp increase in cloud-based data breaches and rapidly growing demand for near-real-time protection.
“Nowadays, a motivated attacker can breach cloud data in less than three minutes. Existing solutions like Cloud Security Posture Management (CSPM) only scan the environment every 24 hours, leaving the window open for another 480 attacks until the next scan. This latest investment is a validation of our approach and allows us to continue to make cloud data inherently more secure.”
The CyberTech company has raised a total of $45m in funding.
In other CyberTech news, CyberloQ Technologies recently partnered with Pannovate.
Copyright © 2022 FinTech Global
