Funding Accelerates Growth of the Context-based Cloud Security Platform Leader to Provide Full Visibility and Alert Prioritization
TEL AVIV, Israel, June 23, 2021 /PRNewswire/ -- Lightspin, the next-generation cloud security platform, announced today that it has raised $16 million Series A funding in a round led by Dell Technologies Capital with significant participation from existing investor Ibex Investors. This round brings total funding to date to $20 million.
Founded in 2020, Lightspin has developed a context-based cloud security platform for cloud-native and Kubernetes environments. The platform provides a full contextual view of all cloud assets and relationships, maps the potential attack paths, and prioritizes and remediates the most critical security issues from build to runtime. Deployed in companies ranging from startups to Fortune 500 corporations, Lightspin has been experiencing exceptional market growth.
"Receiving this recognition from Dell Technologies Capital, a preeminent investor in fellow startups that are revolutionizing the cloud security space, such as Zscaler, Netskope, Twistlock and Redlock, as well as from Ibex Investors, who invested in Dome9, is a strong endorsement of Lightspin's cutting-edge approach," said Vladi Sandler, CEO & Co-Founder of Lightspin. "We are delighted to have the faith of such experienced and proven investors behind us to build the next generation of cloud security."
"There is strong consensus within the CISO network that Lightspin has built the right platform to understand and prioritize the risks of potential attacks in cloud environments," said Alon Weinberg, Director at Dell Technologies Capital. "By providing clear context and actionable remediation options, Lightspin is also bridging the gap between DevOps and security teams both in the build stage and in production."
Nicole Priel, Partner at Ibex Investors, continued, "Lightspin has demonstrated exceptional growth and technical innovation using graph-based algorithms to effectively protect cloud and Kubernetes environments, all while relieving security owners of alert fatigue. We are delighted to continue supporting Lightspin in their journey to provide real value to customers while maintaining an open-source repository for the broader community."
This new investment will fuel cross-function innovation and growth as the company plans to triple the current number of employees, while maintaining its commitment to gender balance across all departments. New hiring will be divided between Israel and the US.
Lightspin's next-gen cloud security posture management (CSPM) tool uses contextual cloud security to protect cloud and Kubernetes environments from build to runtime, and simplifies cloud security for security and DevOps teams. Using patent-pending advanced graph-based technology, Lightspin empowers cloud and security teams to eliminate risks and maximize productivity by proactively and automatically detecting all security risks, smartly prioritizing the most critical issues, and easily fixing them. For more information, visit https://www.lightspin.io/, or see Lightspin video https://www.youtube.com/watch?v=WpYDVri-mtc.
About Dell Technologies Capital
Dell Technologies Capital is the global venture capital investment arm of Dell Technologies. The investment team backs passionate early stage founders who push the envelope on technology innovation for enterprises. Since inception in 2012, the team has sustained an investment pace of $150 million a year and has invested in more than 125 startups, 52 of which have been acquired and 7 have gone public. Portfolio companies also gain unique access to the go-to-market capabilities of Dell Technologies (Dell, Dell EMC, VMWare, Pivotal, Secureworks). Notable investments include Arista Networks, Cylance, Docusign, Graphcore, JFrog, MongoDB, Netskope, Nutanix, Nuvia, RedisLabs, RiskRecon, and Zscaler. Headquartered in Palo Alto, California, Dell Technologies Capital has offices in Boston, Austin, and Israel. For more information, visit www.delltechnologiescapital.com.
About Ibex Investors
Founded in 2003, Ibex Investors is a US-based multi-strategy investment firm targeting outsized returns through differentiated global strategies. Ibex proactively seeks out markets and opportunities commonly dismissed as too difficult or too different and prides itself on finding the hidden gems often overlooked by others. Ibex is headquartered in Denver, Colorado with additional presence in New York and Tel Aviv. For more information, visit www.ibexinvestors.com.