Israeli cybersecurity startup Adaptive Shield has raked in $30m from a Series A capital raise led by Insight Partners.
The funding round also included investments from Okta Ventures and Vertex Ventures Israel. The company came out of stealth in September last year when it raised $4m in seed funding.
Adaptive Shield provides companies with a continuous, automated solution and built-in knowledge base to help make native software-as-a-service (SaaS) security possible. The company has developed the SaaS Security Posture Management (SSPM) Suite to provide visibility and remediation for potential risks caused by misconfigurations and misappropriated privileges.
The SSPM Suite offers users ongoing and automated monitoring capabilities and a built-in knowledge base of compliance standards and benchmarks. The service can be live within minutes and can provide clear customer visibility into the whole SaaS ecosystem.
According to Adaptive Shield, it will use the new funding to enable companies to secure their SaaS stacks.
Adaptive Shield CEO and co-founder Maor Bin said, “Expecting security teams to stay on top of SaaS Security misconfigurations without a proper SSPM solution in place is like expecting a bodyguard to protect an invisible person. Deep visibility and continuous maintenance of SaaS security hygiene is crucial to keeping the company secure.
“Thanks to this latest round of funding, we will be able to further evolve our SSPM offering while extending our reach to meet growing demands from businesses around the globe looking to increase their SaaS usage while eliminating any risk.”
Insight Partners managing director Stephen Ward added, “Adaptive Shield’s ramp up time in our environment was immediate and provided key insights to our security team without overwhelming users with too much data. Adaptive Shield’s solution is focused on immediate risk reduction and product value. Their strong founding team, with an impressive security pedigree, make Adaptive Shield a standout in the industry.”
Copyright © 2021 RegTech Analyst
Copyright © 2018 RegTech Analyst
