Lacework Closes $24 Million Series B Financing with Sutter Hill Ventures to Expand Go-to-Market for Game-Changing Cloud Security Solution
Lacework®, the industry’s first solution to bring automation, speed and scale to cloud security, today announced the closing of a $24 million Series B funding round led by Sutter Hill Ventures. Lacework will leverage these funds to facilitate immediate growth in global sales and marketing capabilities and accelerate adoption and deployment of its game-changing security solution which empowers organizations with automated, end-to-end security and compliance for public clouds. Additional investors participating in this funding round include Liberty Global Ventures, Spike Ventures and the Web Investment Network (WIN), and AME Cloud Ventures, bringing Lacework’s total funding to date to $32.7 million.
“Lacework’s platform is helping enterprises like Liberty Global offer better service to its customers by enabling a secure cloud platform,” said Ankur Prakash, Vice President at Liberty Global Ventures. “Our investment acknowledges Lacework’s success in reducing speed and scale constraints facing business when dealing with issues around cloud security.”
Security remains a constant roadblock for many organizations wanting to innovate quickly within public clouds. ESG Global reports on the obvious opportunity for cloud security innovations: “Traditional, network-centric security solutions built for static environments are showing their limitations in the ephemeral constructs of public cloud computing. The mismatch generally results in outright failure — 32 percent of enterprises have abandoned traditional security technologies because they couldn’t be used effectively for cloud security.”
Lacework is transforming the security industry by addressing the unique demands of the cloud: speed, scale and automation. With the Lacework Cloud Security Platform, security teams can minimize security risks, detect threats and close compliance gaps without slowing down the pace of innovation.
“Public clouds have become the de-facto platforms where businesses innovate at speed. Our vision at Lacework is to become the de-facto security platform that enables these organizations to build cloud services fast and remain safe,” said Stefan Dyckerhoff, President and CEO, Lacework. “With more than 20 customers in production, Lacework is a proven solution that delivers effective cloud protection at scale and with the speed required for high-velocity public clouds. Fast-growth companies with large footprints in public clouds have achieved continuous compliance and end-to-end security across highly dynamic development and production environments. It’s time to combine automation, machine learning and analytics with human expertise to deliver security at scale.”