Gem Security, an Israeli startup with operations in New York, recently secured a substantial amount of $23m in venture capital.
This technology company stands out in the bustling realm of cloud threat detection and incident response.
The $23m Series A funding round was spearheaded by GGV Capital. Notably, Team8, previously a leader in Gem Security’s seed funding round, has chosen to take an equity position this time as well, joining forces with the likes of IBM Ventures and Silicon Valley CISO Investments (SVCI).
To delve deeper into what Gem Security does, the firm offers a cutting-edge platform that imbibes multi-cloud native telemetry (spanning services like AWS, GCP, Azure, and Kubernetes). Moreover, it integrates data from a myriad of external security tools and external platforms, such as GitHub, all with the aim to provide exhaustive visibility paired with actionable security recommendations.
With the newly acquired funds, Gem Security plans to enhance its offerings that assist organisations in cloud asset discovery, threat detection, and incident response. It’s a well-timed boost, especially considering that within seven months since its initial reveal, the company has successfully raised an impressive total of $34m.
Since its inception in February 2023, Gem Security has been on a growth trajectory, reporting an uptick in its annual recurring revenue (ARR). This has been achieved by fortifying cloud operations for a multitude of global organisations, spanning sectors like financial services, healthcare, manufacturing, energy, and information technology.
The company is vocal about the gaps in the current market. While there’s no dearth of products tailored for detection and response, Gem Security firmly believes that most legacy methods fall short when it comes to catering for the cloud era. According to the company, organisations today are tasked with an unending cycle of preparation, detection, investigation, and response to potential cloud data threats.
Gem Security CEO’s statement encapsulates their mission, “In today’s fast-paced digital world, ensuring robust cloud security is paramount. Our platform is tailored to bridge the gaps left by legacy systems, offering real-time solutions for a cloud-first world.”
It’s also noteworthy that prior to this investment, Gem Security had already raised a significant amount, boosting their financial clout to propel them further in their industry.
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