California-based Lacework is a data-driven cloud security platform that automates cloud security at scale, thereby letting users innovate quickly and safely. Recently, the platform raised $1.3 billion in a Series D funding round that values it at $8.3 billion. This is the largest-ever financing raised by a security company and it will help the company scale up its business globally.
The investment round was led by existing investors Altimeter Capital, Tiger Global Management, D1 Capital Partners and Sutter Hill Ventures. Also, new investors – Counterpoint Global (Morgan Stanley), Franklin Templeton, Durable Capital, XN and General Catalyst participated in this round. Other existing investors to participate in the round are Snowflake Ventures, Liberty Global Ventures, and Coatue Dragoneer. Notably, this round follows the $525 million Series C funding it secured in January this year, which increased its valuation to $1 billion.
Lacework will deploy the proceeds of this round to extend its dominance in the cloud security market via product innovation, which will expand its market. Also, it will carry out strategic acquisitions such as the recent acquisition of Soluble transaction. Besides this, it will scale its strategies, grow the team and increase its global presence to serve its users better.
Solves cloud security issues
Founded in 2015 by Vikram Kapoor, Lacework believes that cloud security is a data problem. To solve this issue, which has been brought by evolving technologies, constant change of cloud environments, and adaptive infrastructure. Lacework believes that it requires rethinking the conventional approach to security.
Headquartered in San Jose, California, the company has offices all over the world. Customers all over the world depend on Lacework to drive revenue growth, consolidate point security solutions to one platform, and bring products faster and safer to markets.
Lacework employs over 700 employees in North America and is eyeing to enter the European, and Asia Pacific markets. Already, it is witnessing good traction in the United Kingdom, France, Germany, the Nordics, Australia, and New Zealand. It has more than tripled its headcount since a year.
Earlier this month, Lacework completed its first acquisition by acquiring Soluble, a cloud infrastructure management vendor. This acquisition will help the company quickly detect and resolve code misconfigurations, as well as, policy violations. Lacework will likely be focused on future acquisitions to help it get new features and capabilities faster to the market.
Lacework’s ecosystem includes IaC, CI/CD, and workflow integrations – Terraform, Kubernetes, and Jira, strong alliances with partners such as Snowflake, Amazon Web Services, New Relic, Microsoft Azure, Google Cloud Platform (GCP), and channel partnerships with companies such as Presidio, Guidepoint, EVOTEK, GlobalDots, and Katana1.
Unique cloud security platform
Lacework’s Cloud Security Platform is a unique technology, which integrates security natively right from code to run time and is taken ahead by Polygraph. Notably, Polygraph is a data-first patented machine-learning engine, which delivers lower risk, less noise, and higher ROI. It empowers customers with automation to understand cloud changes at scale sans manual intervention by security teams.
With Soluble’s acquisition, the company enhances the Lacework Cloud Security Platform capabilities to further enable organisations to integrate security practices in their software delivery process. It will scale the go-to-market strategies and grow the Lacework workforce.