Funding to Further Transform Cloud Security for Global Enterprises Looking to Leverage AWS, Azure, and GCP to Accelerate Digital Transformation
LOS ANGELES – December 8, 2020 – Orca Security today announced a $55 million Series B round led by ICONIQ Growth with participation from previous investors GGV Capital, YL Ventures, and Silicon Valley CISO Investments, supporting the company’s explosive growth with more than $82 million raised in less than two years. The funding will fuel Orca Security’s further disruption of the cloud security industry with touchless, workload-deep, context-aware security and compliance for AWS, Microsoft Azure, and Google Cloud Platform.
While competing cloud security solutions were built for on-prem environments, Orca Security was born in the cloud for the cloud. Orca treats each customer’s cloud estate as an interconnected web of assets, prioritizing risk based on the underlying security issue combined with environmental context, including its accessibility and potential damage to the business. This context also helps to reduce thousands of security alerts to the critical few that matter, along with their precise path to remediation.
“Cloud security is fundamentally broken. Practitioners are forced to waste their time installing and maintaining security agents instead of managing actual security risks,” said Avi Shua, CEO and co-founder of Orca Security. “Even after spending years plumbing agents in their environment, coverage is usually limited to less than fifty percent. What’s worse, agent-based solutions lack context. They can’t see beyond individual issues residing on individual assets, which leads to a never-ending barrage of meaningless security alerts. The fact is, competing solutions view cloud resources as simple lists whereas bad actors see a graph with a clear path of attack. Orca Security changes that paradigm by visualizing cloud resources through the lens of an attacker.”
This unique ability is achieved using Orca Security’s patent-pending SideScanning™ technology, which reads the cloud configuration and workloads’ runtime block storage out-of-band to detect vulnerabilities, malware, misconfigurations, lateral movement risk, weak and leaked passwords, secret keys, unsecured PII, and more. Orca Security has created the first cloud security solution that can meet these needs without agents or per asset integration, gaining full coverage literally within minutes.
With its Series B round, in addition to a $20.5 million Series A and $6.5 million in seed funding, Orca Security is further expanding its cloud security and compliance capabilities. By the end of 2021, Orca Security plans to have nearly tripled its R&D team since its A round in May of 2020. It is also boosting its sales team to nearly 30 people to meet global product and customer demand. The company also plans to open new sales offices in the UK and Australia to serve the European and APAC markets.
The Series B funding round is being led by ICONIQ Growth, which invests in growing technology companies and employs a distinctive ecosystem to build enduring businesses. The funding also includes participating investments from GGV Capital, who led the Series A as a global venture capital firm focused on companies shaping digital transformations, and YL Ventures who led the seed round and exclusively invests in groundbreaking Israeli cybersecurity companies.
In addition, a group of more than 50 prominent CISOs has again invested their pooled funds and technical expertise in Orca Security’s success through their recently formed SVCI (Silicon Valley CISO Investments) angel syndicate.
“We are very impressed with the depth, ease of deployment, and effectiveness of Orca Security’s technology, and believe in its potential to solve the growing problem in cloud security,” said Matthew Jacobson, General Partner at ICONIQ Growth. “We have been fortunate to partner with many high growth, high impact, emerging market leaders with an unmatched approach to solving customer needs and we have full confidence in Orca Security’s long-term opportunity as an important technology leader.”
Orca Security is also expanding its global partner network and will announce an official partner program in the coming months. The company is especially focused on building partnerships in the markets where it is rapidly gaining customer traction including the US, UK, Germany, Australia, and Japan. Any potentially interested partners are encouraged to reach out for more information: firstname.lastname@example.org
“The market response to Orca has been second to none. Collecting numerous industry awards, Orca has seen impressive adoption by both enterprise and SMB security teams, increasing Orca’s revenue tenfold from its Series A,” said Oren Yunger, investor, GGV Capital. “This buzz is well deserved as Orca provides immense value where agents and network scanners fail to. It not only depicts the vulnerabilities, but also outlines the full context of the business and cloud environment. GGV Capital is thrilled to double down on Orca in its Series B and support its stratospheric growth.”
“Orca’s agentless cloud security solution is lightyears ahead of its time,” said Yoav Leitersdorf, Managing Partner at YL Ventures. “But even our highest expectations didn’t account for how quickly Orca’s SideScanning technology transformed its sector. Thanks to a team of highly respected technologists and a powerful new approach to cloud security, Orca’s attracted the industry’s top talent, closed high-profile customers and secured a total of $82 million in funding in just under two years.”
For more information, visit orca.security/resources.
Orca Security, the cloud security innovation leader, provides cloud-wide, workload-deep security and compliance for AWS, Azure, and GCP － without the gaps in coverage, alert fatigue, and operational costs of agents.
Unlike competing tools that operate in silos, Orca treats your cloud as an interconnected web of assets, prioritizing risk based on the severity of the underlying security issue combined with environmental context, including its accessibility and potential damage to the business. This does away with thousands of meaningless security alerts to provide just the critical few that matter, along with their precise path to remediation.
Find critical attack vectors before your adversaries without having to cobble together disparate tools for cloud security posture management, compliance assessments, and workload and data protection. Delivered as SaaS, Orca Security’s patent-pending SideScanning™ technology reads your cloud configuration and workloads’ runtime block storage out-of-band, detecting vulnerabilities, malware, misconfigurations, lateral movement risk, weak and leaked passwords, and unsecured PII. SideScanning™ covers all your workloads﹣VMs, containers, and serverless.
Orca Security deploys in minutes ﹣ not months ﹣ because no opcode runs within your cloud environment. With Orca, there are no overlooked assets, no DevOps headaches, and no performance hits on live environments.
Connect your first cloud account in minutes and see for yourself. Visit https://orca.security/resources
ICONIQ Growth is a privately-held financial advisory and investment firm, and a partner of choice for exceptional entrepreneurs, leaders and institutions around the world. The firm invests in technology growth equity and real estate asset classes and employs a distinctive ecosystem to build enduring businesses. ICONIQ is a trusted advisor fostering meaningful strategic relationships across industries to source powerful ideas, magnify global impact and support a new generation of entrepreneurs and companies. For a full list of investments made by ICONIQ Growth, an affiliate of ICONIQ Capital, please visit: iconiqgrowth.com
GGV Capital is a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across social/internet, enterprise tech and smart tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, Coder, Ctrip, Grab, Hello, HashiCorp, Houzz, Keep, Monte Carlo, Niu, Nozomi Networks, NS1, Opendoor, Peloton, Poshmark, Slack, Square, Stream, Streamlit, Synack, Udaan, Wish, Workboard, Xpeng and more. The firm has offices in Silicon Valley, San Francisco, Singapore, Shanghai and Beijing. Learn more at ggvc.com and @GGVCapital.
YL Ventures funds and supports brilliant Israeli tech entrepreneurs from seed to lead. Based in Silicon Valley and Tel Aviv, YL Ventures manages over $300 million and specializes in cybersecurity. YL Ventures accelerates the evolution of portfolio companies via strategic advice and U.S.-based operational execution, leveraging a powerful network of Chief Information Security Officers and global industry leaders. The firm’s track record includes successful, high-profile portfolio company acquisitions by major corporations including Palo Alto Networks, Microsoft, CA and Proofpoint. For more information, visit ylventures.com.