Cado Security raises $20 million to drive global expansion
Cado Security raised $20M in funding from Eurazeo, a global investment company, and Ten Eleven Ventures, a cybersecurity-focused, global, stage-agnostic investment firm.
This latest investment brings the company’s total investment to $31.5M. The funds will build on the company’s impressive growth and momentum by further enabling its global expansion and continued innovation through product development, accelerating go-to-market strategies, and growing sales and marketing.
“Rapid, strategic innovation has enabled us to grow quickly and effectively. As a platform purpose-built for the cloud, we are providing the solutions needed so that security teams can drastically speed up incident response in the cloud,” said James Campbell, CEO of Cado Security.
“Nearly half of today’s breaches are cloud based, and with more than 60% of corporate data currently stored in the cloud, it’s more important than ever to provide cutting-edge solutions that enable organizations to appropriately handle this increasing risk in cloud environments. We are pleased to be working with such world-renowned investors and technology leaders. With their support, combined with our team and continued momentum, we will continue to pave the path as the leader in this critical and rapidly growing segment of cloud security,” added Campbell.
Over the past year, Cado Security has experienced accelerated growth and achieved significant milestones, including its availability in the Microsoft Azure Marketplace and AWS Marketplace. Additionally, in recognition of its platform’s ability to provide comprehensive cloud forensics and incident response capabilities, Cado Security was featured in CRN’s 2023 Security 100 List and selected as one of 10 finalists for the RSA Conference 2022 Innovation Sandbox Contest.
“We are thrilled to be investing in Cado Security,” said Thomas Turelier, VP – Venture Digital, at Eurazeo. “We built a strong conviction that Cado is uniquely positioned to become the leader in the emerging cloud forensics and response automation market. It is becoming fundamental for security and infrastructure teams to take control and automate their post-incident processes in increasingly complex cloud environments. James and his team have built a unique expertise reflected in the depth and reliability of their product. We look forward to partnering with them in the long run and helping them build a category-defining company in cloud security.”
Chris Corde, Head of Product for Security Operations at Google Cloud says “The Cado platform speeds up incident response in the cloud by reducing time spent on data collection and processing from days to hours. The fact that security teams no longer have to manually request access to a potentially compromised system is a game changer.”