Data security startup Dig Security Solutions Inc. said today it has raised $34 million in new funding to accelerate go-to-market efforts and deliver new enhancements to secure cloud data.
SignalFire led the Series A round, with Felicis, Okta Ventures, Team8 and several individual investors also participating. Including the new round, Dig has raised $45 million to date. Previous investors include CrowdStrike Holdings Inc. (via its Falcon Fund), CyberArk Software Ltd. and Merline Ventures.
Founded in 2021 and launching out of stealth mode in May last year, Dig pitches itself as helping organizations discover, classify, protect and govern their cloud data. The company argues that with organizations shifting to complex environments with dozens of database types across clouds, monitoring and detecting data exfiltration and policy violations has become a complex problem with limited, fragmented solutions.
Dig’s cloud-native and agentless approach is claimed to reinvent cloud data loss protection data detection and response capabilities to help organizations better cope with cloud data sprawl. Dig uses a comprehensive threat model for cloud data attacks that detects, analyzes and instantly responds to cloud data threats to minimize business impact and damage with an average mean-time-to-detection of less than a minute.
Since launching last year, Dig claims to have seen strong growth, with a client base that includes Fortune 500 companies, leaders in financial services and business software and innovative software-as-a-service-based technology companies across the U.S., Europe and Israel.
“The global shift to the cloud has thrust unprecedented volumes of data into potentially risky data stores,” Dan Benjamin, co-founder and chief executive officer of Dig Security, explained in a statement. “As a result, we’ve seen a sharp increase in cloud-based data breaches and rapidly growing demand for near-real-time protection.”
Benjamin added that a motivated attacker can breach cloud data in less than three minutes. “Existing solutions like Cloud Security Posture Management only scan the environment every 24 hours, leaving the window open for another 480 attacks until the next scan,” he said.