Ermetic announced Splunk Ventures as a strategic investor. Splunk Ventures is the corporate venture capital arm of Splunk, the data platform leader for security and observability, which plans to work with Ermetic to build a partnership to further help customers solve security challenges in multi-cloud infrastructure environments.
This follows Ermetic’s recent $70M Series B round of financing led by Qumra Capital with support from new investor Forgepoint Capital and participation from existing investors Accel, Glilot Capital Partners, Norwest Venture Partners and Target Global. The company has now raised $100M in funding for its security platform that provides holistic multi-cloud protection for global enterprise customers.
“We are pleased to welcome Splunk Ventures as a strategic investor in Ermetic and share their commitment to helping customers secure their cloud infrastructures,” said Shai Morag, CEO of Ermetic. “The amount of data that needs to be analyzed and acted upon to protect cloud resources from risks associated with entitlements and misconfigurations is growing at an exponential rate. We look forward to working with Splunk to help joint customers solve these problems.”
This strategic investment from Splunk Ventures will help Ermetic extend the capabilities of its integrated cloud infrastructure entitlement management (CIEM) and cloud security posture management (CSPM) platform to meet current and emerging customer needs. The company will also work with Splunk to deepen their product integration and partnership to increase customer value.
“We share Ermetic’s vision for securing complex cloud infrastructures by exposing and remediating risks hidden in massive amounts of policy and activity data,” said Varoon Bhagat, vice president of Corporate Development for Splunk. “Ermetic’s identity-first approach to cloud security is a natural fit for Splunk Ventures, which invests in innovative companies that complement Splunk’s extensible data platform and maximize value for our joint customers.”
Ermetic has developed a comprehensive cloud security platform for AWS, Azure and GCP that enables organizations to proactively reduce their attack surface, detect threats and reduce their blast radius in case of a breach. It provides everything from full-stack visibility and actionable risk intelligence, to automated remediation, real-time anomaly detection and compliance.