Open Raven raises $15M to accelerate growth through expansion of key functions
Open Raven, the cloud native data security platform that prevents breaches driven by modern speed and sprawl, announced that it raised $15 million Series A investment, bringing the company’s total funding to $19.1 million.
Led by Kleiner Perkins with participation from existing investors including Upfront Ventures, the new capital will be used to accelerate Open Raven’s growth through expansion of key functions including engineering, customer support, sales and marketing. In addition, Bucky Moore, partner at Kleiner Perkins, joins the Open Raven board of directors.
By 2022, 75% of all databases will be deployed or migrated to a cloud platform, with only 5% ever considered for repatriation to on-premises, according to Gartner, Inc. With this growth, organizations today commonly rely on hybrid- and multi-cloud deployments, stretching their attack surface and making data harder to pin down.
Adding to this complexity, an explosion in the volume, variety and velocity of data has resulted in significant sprawl across cloud environments that traditional data loss and breach prevention tools were not designed to control.
As a result, errors leading to data exposure such as misconfigurations are one of the most prevalent and the fastest rising threats in cybersecurity, according to the Verizon 2020 Data Breach Investigations Report.
“Today’s data security problem bears little resemblance to the historical challenges that drove the creation of the last generation of products,” said Moore. “Unlike legacy solutions like DLP and CASB, Open Raven solves for modern complexity with a platform purpose-built for the massive data exposure issue.”
Now generally available, Open Raven Community Edition delivers real-time data leak monitoring to proactively uncover cloud data exposure problems before they become security incidents.
The platform identifies at-risk data, locates unknown data and shows every AWS account and asset from every angle in a global 3D map, making it easy for security teams to see and prevent data mishaps and maintain compliance.
Open Raven is designed to fit seamlessly into an enterprise’s environment and deploys into its cloud with direct access to the data model via GraphQL.
“The transition to the cloud and out of physical data centers means that data stores change more quickly than ever before – leaving numerous unanswered questions,” said Dave Cole, co-founder and CEO of Open Raven.
“Security and cloud infrastructure teams are wondering, ‘what AWS accounts don’t we know about?’ ‘Is there any data at risk right now?’ ‘Is our PII where we expect it to be?’ Answering these fundamental questions can be painstaking.
“We’re giving organizations the ability to take charge of their data and explore their environments from any angle in order to truly understand their risk of cloud data breaches.”
Since emerging from stealth in February 2020, the preview edition of the Open Raven platform has been deployed at numerous global organizations across industries, including automotive, gaming, financial technology and software. Security leaders at these organizations helped the Open Raven team tune the platform to meet enterprises’ modern cloud data security needs.
“Many organizations believe they have a solid handle on their valuable cloud data assets, but security teams need a better vantage point to monitor unknown and unprotected data stores to ensure they understand areas of exposure,” said Justin Dolly, CSO at Sauce Labs.
“Open Raven turns complex AWS environments into intuitive visualizations that are both polished and functional – something that’s been lacking in cloud security products we’ve seen to date.”