- Ermetic is a security platform that enables organizations to detect and prevent security threats within complex environments, such as Amazon Web Services (AWS) and Microsoft azure.
- The company was already on the growing stage, and with the latest funding, it is positioned well to witness rapid growth.
Ermetic, a leading cloud infrastructure security company, announced that it had raised USD 70 million in a Series B round of financing. This round was led by Qumra Capital and Forgepoint Capital. Existing investors, Norwest Venture Partners, Accel, Gilot Capital Partners, and Target Global, too participated. The cloud-native security platform company has now raised USD 100 million in funding for its security platform that gives holistic multi-cloud protection to global customers.
Ermetic will utilize the funds to enhance sales and marketing operations in Europe, the Middle East, Africa, Asia-Pacific, the US and grow its engineering team. As part of the financing, Boaz Dinte, Managing Partner at Qumra, is now a part of the company’s board of directors.
The rapid migration of applications and workloads to the cloud has widened the security gap that cannot be identified easily. Ermetic’s comprehensive platform can detect and prevent security threats within AWS, Google Cloud, and Microsoft environments which are quite complex. Since its last funding, the company has grown significantly and now has more than 100 employees. It has also increased its customer base by 800% and now protects millions of resources.
Gartner believes that the cloud security category is the fastest-growing vertical of the global information security and risk management market and is expected to grow at a robust rate of 41.2% during the forecast period. The factors driving this segment include the rising number of sophisticated cyber-attacks on cloud computing platforms and the need for compliance with various regulations. With automation, Ermetic allows organizations to minimize the attack surface across their cloud infrastructure stack with fewer human resources and enforce Zero Trust security policies to limit the blast radius in the event of a breach.
“Most organizations have to stitch together disparate security tools that are siloed and provide a limited view of cloud risk, but Ermetic has combined cloud infrastructure entitlement, and cloud security posture management to provide the visibility and automation customers need to protect all their cloud platforms in one place,” said Shai Morag, CEO of Ermetic. He added, “This has created a much larger addressable market for our products. Our new funding will enable us to grow aggressively and capture a large share of this business globally.”
“Organizations are placing their most valuable assets in the cloud, but these environments are so complex and often distributed across different cloud provider platforms that they are manually impossible to secure,” said Boaz Dinte, Managing Partner at Qumra.
“Ermetic has built the most advanced solution for automating and centralizing security management across all the leading cloud platforms and is led by a proven management team. The company is extremely well-positioned for rapid growth.”