Cloud data protection startup Dig Security launches with $11M in seed funding

Cloud data protection startup Dig Security launches with $11M in seed funding

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As it exits stealth mode today, data security firm Dig Security Solutions Ltd. wants to convince enterprises it can comprehensively secure their cloud-hosted information.

The company is backed by $11 million in seed funding from Team8 and leading cybersecurity firms CrowdStrike Holdings Inc. (via its Falcon Fund) and CyberArk Software Ltd. Merlin Ventures also participated in the round, along with angel investors such as MongoDB Inc. Chairman Tom Killalea and Exabeam inc. founder Nir Polak.

Dig Security helps enterprises “dig” into their cloud data, discovering what assets they have, providing context on those assets and then ensuring they are secure.

The company says in its pitch that the typical enterprise has data stored in more than 20 types of service hosted across various cloud platforms on thousands of different instances. Their data is scattered so far and wide that they lack visibility, context and control of that information. Dig argues that existing data security services aren’t designed to protect this cloud-based data.

Dig co-founder and Chief Executive Dan Benjamin told SiliconANGLE he has spoken to hundreds of chief information security officers and hears the same complaints over and over.

“Companies don’t know what data they hold in the cloud, where it is, or — most importantly — how to protect it,” he said. “They have tools to protect endpoints, networks, APIs… but nothing to actively secure their data in public clouds.”

Dig wants to change that. Its platform works by scanning and reviewing customer’s entire estates across all clouds, services and deployment types, including discovering any “shadow data assets.” Once the data has been discovered, Dig digs into it to provide context around how it moves across the organization, how it’s being used and by whom, in order to classify those assets and prioritize risk. Then it can respond instantly to any threats it discovers, triggering alerts on suspicious or anomalous activity and putting a stop to attacks, exfiltration and employee misuse.

As an added benefit, Dig also aids in compliance, tracking whether each data source supports standards such as SOC2 or HIPAA.

Benjamin told SiliconANGLE that Dig is uniquely able to dig up a lot of surprising data leaks and other threats that companies need to address.

“In one of our most recent implementations, we had a financial institution whose financial reports were being copied on a daily basis to an external AWS account without their knowledge,” he explained. “Apparently, they used to work with an external vendor that processed the reports, but terminated that relationship three years ago. However, because no organization monitored how the data was being used, it was left undiscovered until Dig was installed.”

“Dig’s active approach, bringing detection and response to data in the cloud, is precisely what the market needs,” said Team8 co-founder and Managing Partner Liran Grinberg. “Data security in the cloud is high on the priority list of most CISOs today and we’re proud to invest in the company we believe will lead this category.”

Dig reckons it has grown quickly even while operating in stealth and claims it already has a number of paying customers using its platform.

Photo: Studio Zoom 18

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