Software-as-a-service security startup DoControl Inc. announced today that it has raised $30 million in new funding to help scale up its security innovations, launch strategic channel and partnership programs, and speed up its global growth.
Insight Partners led the Series B round, with existing investors also participating. Previous investors were RTP Global, StageOne Ventures, Cardumen Capital and the CrowdStrike Falcon Fund. Including the new funding, DoControl has raised $43.4 million to date, according to data from Crunchbase.
Founded in 2020, Do Control offers an automated platform that provides data access monitoring, orchestration and remediation across SaaS applications. Designed to mitigate the risk of costly data breaches created by unmanageable data across popular SaaS applications, DoControl’s platform is aimed at improving security and operational efficiency for enterprises.
The problem being tackled by DoControl is a real one. Accelerated SaaS adoption, the growing complexity of SaaS ecosystems and the lack of granular, automated access control can leave organizations exposed to unauthorized and undetected data exfiltration.
DoControl harnesses data from interactions and application programming interface access across SaaS applications and feeds it into no-code workflows that automatically identify, respond to and remediate threats stemming from data policy violations. Its solution is claimed to eliminate enterprise threats created by departing employees, third-party vendors, cross-team collaboration and more.
“SaaS is the new IaaS when it comes to security control complexity and data access exposure,” Adam Gavish, co-founder and chief executive officer of DoControl, explained in reference to security issues that have plagued infrastructure-as-a-service providers. “Recent high-profile attacks, such as the alleged Okta Inc., HubSpot Inc. and Twitter Inc. breaches, either started or continued with access control exploitation resulting in unauthorized access to the crown jewels — sensitive customer data.”
Describing data as the “new oil,” Gavish added that “security teams understand they now need to extend their zero-trust architecture from the identity and network into the SaaS data layer.”
The new funding will be used by DoControl to double its headcount and allow it to develop a national channel partner program to enable managed service providers, resellers and other key partners to provide zero=trust SaaS data access control capabilities to a broader user base.