Theom Raises $16 Million Seed Round to Change the Future of Cloud Data Security
Theom announced that it closed an oversubscribed $16.4 million seed funding round to expand its cloud data security solution. Ridge Ventures led the round along with M12, Microsoft’s Venture Fund. Theom is pioneering a new method of securing data in the cloud and SaaS data stores by ensuring that protection always follows the asset, adapting the security as environments change.
According to Fortune Business Insights, the global cloud storage market is projected to grow from $83.41 billion in 2022 to $376.37 billion by 2029. Until now, cloud data breaches have remained an unsolved problem because existing security controls are blind to the data they are attempting to protect. This lack of visibility results in security gaps and the inability to prioritize the thousands of security alerts that are generated. Theom brings a new approach to data security that identifies high-value assets, analyzes and prioritizes risks to the assets, and ensures security controls follow the data wherever it is moved, stored, copied or transacted.
“It’s very clear that we are seeing an exponential increase in data being moved to the cloud,” said Yousuf Khan, partner, Ridge Ventures. “Securing this data has become a top priority and many organizations have very little idea of where their sensitive data is being stored in their cloud environments. They don’t have a clear picture of what the risks are to that data and which to prioritize. The Theom solution solves these challenges today.”
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Theom enables organizations to gain intelligence about the risks to high-value data and ensure existing security controls are properly armed to prevent data breaches by:
- Providing security intelligence for data at rest and in motion: Theom allows customers to gain an inventory of all data inside cloud and SaaS stores, APIs and message queues. It identifies high-value data including personal identifiable information (PII), protected health information (PHI), trade secrets, financial information and custom data entities.
- Prioritizing cloud security risks based on potential for exposure of sensitive data: Theom automatically understands the content and criticality of data assets, including the financial value of data. It prioritizes risks to data based on the impact on the business, including risks arising from over-provisioned and atypical accesses. Theom enables enterprises to enforce least privilege access to data inside cloud stores.
- Preventing data breaches with controls that follow the data: With Theom, data security, assurance, and compliance controls follow the data. Risks are quickly mitigated with guided remediations. Theom monitors the data with guardrails that are kept up to date with industry best practices and threat intelligence on recent breaches and cloud ransomware.
“For industries like financial services, healthcare and other sectors, Theom is a transformational data security solution companies are looking for,” said Mony Hassid, managing director, M12. “Theom solves a fundamental challenge to data protection in the cloud. Theom’s compute runs inside the customer’s cloud, enabling customers to bring security to their data wherever it may be, and works with existing security controls to deliver the strongest protection against breaches – all accomplished with no data leaving the customer’s jurisdiction.”
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Theom’s leadership team has a proven track record of successfully building and bringing to the market planet-scale data, cloud and security products at Cisco, Google, Yahoo, Zscaler and IBM, with a demonstrated ability to execute on vision. By understanding both data and access identities, Theom pinpoints the biggest risks to high-value data and prioritizes remediation more effectively. Theom integrates with identity access management (IAM), infrastructure controls, security information and event management (SIEM), security orchestration, automation and response (SOAR), and ticketing systems to increase the return-on-investment of the overall security program.
“Theom’s approach to cloud data security takes inspiration from how the Secret Service protects high-value assets– the president and VIPs,” said Navindra Yadav, CEO and co-founder, Theom. “Theom ensures controls follow the data like a bodyguard – just like the Secret Service bodyguards do – by identifying high-value assets, assessing risks continuously, ensuring that protection always follows, and adapting the security as environments change.”
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