Orca Security nets $55m in its Series B round

Israel-based Orca Security has netted $55m in its Series B round, which was led by ICONIQ Growth.

Contributions also came from GGV Capital, YL Ventures, and Silicon Valley CISO Investments, and brings the RegTech’s funding to $82m over the past two years.

The company previously raised $20.5m in its Series A earlier this year and closed its seed round on $6.5m in 2019.

Funds from the Series B will be used to further Orca’s technology development and improving its capabilities.

By the end of 2021, the cybersecurity company is hoping to have nearly tripled its R&D team and bolster its sales team by around 30 people. It is also hoping to open a new sales office in the UK and Australia to serve the European and APAC markets.

The company offers automatically assesses the state of security on every discovered asst on the cloud, to ensure enterprises have robust cloud security. Its technology can identify vulnerabilities, misconfigurations, breaches malware and compromised assets on their cloud accounts, and tools to solve the issues.

Orca Security CEO and co-founder Avi Shua said, “Cloud security is fundamentally broken. Practitioners are forced to waste their time installing and maintaining security agents instead of managing actual security risks.

“Even after spending years plumbing agents in their environment, coverage is usually limited to less than fifty percent. What’s worse, agent-based solutions lack context. They can’t see beyond individual issues residing on individual assets, which leads to a never-ending barrage of meaningless security alerts.

“The fact is, competing solutions view cloud resources as simple lists whereas bad actors see a graph with a clear path of attack. Orca Security changes that paradigm by visualizing cloud resources through the lens of an attacker.”

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