With the funding round, the cloud security firm increases its valuation by 50% to $1.8bn in just seven months
Orca Security offers instant-on security for AWS, Google Cloud and Microsoft Azure. (Credit: Bethany Drouin from Pixabay)
Israeli cloud security company Orca Security has raised $550 million in its extended Series C funding round to expand its global presence.
Led by Singapore-headquartered Temasek, the financing round saw participation from venture capital firms CapitalG (Alphabet’s independent growth fund), Redpoint Ventures, GGV, ICONIQ Capital, Lone Pine Capital, Stripes, Adams Street Partners, Willoughby Capital, and Harmony Partners.
The funding round has enabled the cloud security firm to increase its valuation by 50% to $1.8bn in just seven months.
By leveraging Temasek’s investment portfolio and global network, Orca Security intends to deepen its penetration into the Asia-Pacific (APAC region) and beyond.
It also plans to strengthen its presence in key industries such as telecom, financial services, transportation, consumer goods and others.
By the end of this year, Orca Security plans to employ more than a dozen people in the APAC region.
In addition, the company intends to continue its expansion in the UK, and across Europe, the Middle East and Africa (EMEA) region.
Adams Street partner Fred Wang said: “Security is one of the largest challenges associated with cloud adoption. Avi and the Orca Security team have built a next-generation solution that is redefining cloud security best practices.
“Not only does the Orca Security platform provide end-to-end visibility across a company’s cloud environment, but it can be deployed in minutes and is effortless to maintain. Orca Security’s tremendous traction across industries is a testament to the value that they are delivering to customers.”
Orca Security is engaged in offering instant-on security and compliance for Amazon Web Services (AWS), Google Cloud and Microsoft Azure.
The company’s patent-pending SideScanning technology is developed to collect data directly from cloud provider application programming interfaces (APIs) and the workload’s runtime block storage out-of-band.
The technology surfaces critical attack vectors that include serious risks such as vulnerabilities, malware, misconfigurations, weak and leaked passwords, and lateral movement risk.
SAIC’s investment is expected to position Orca Security as a major Cloud-Native Application Protection Platform (CNAPP) provider for digital transformation initiatives.
As part of the partnership, SAIC will utilise Orca Security to support cloud migration, continuous risk assessment, and remediation.
Splunk Ventures’ investment and deep technical integration is also expected to enhance Orca Security’s role as a cloud security provider to the broader cybersecurity ecosystem.