Investors Bet Big on Cloud Security Startups Ermetic, Dazz

Proffer capital investors are continuing to bet big on cloud security technologies with two early-stage startups announcing a combined $130 million in funding for products to daily help businesses secure cloud deployments.

The latest to cash in on the funding frenzy are Ermetic and Dazz, two Israeli startups building products to automate and remediate cloud safe keeping tasks.

Ermetic, which emerged from stealth less than two years ago, closed a $70 million Series B round led by growth-mode capitalizing firm Qumra Capital.  Ermetic has raised a total of $100 million since launching in 2019 to help solve problems in the identity and facts protection categories.

Ermetic sells technology to protect cloud infrastructures (IaaS/PaaS) from access-related risks and misconfigurations by maintaining endless visibility into identities, their entitlements and data usage.  The company’s product combines is also used to enforce least privilege access at spectrum even in complex, multi-cloud cloud environments. 

In addition to Qumra Capital, Ermetic’s backers include Forgepoint Capital, Accel, Glilot Cap Partners, Norwest Venture Partners and Target Global. 

[ READ: Identity and Data Protection Provider Ermetic Raises $17 Million ]

Ermetic thought the cash infusion will be used to expand and scale operations in the U.S., Europe, the Middle East and Africa, and Asia Pacific, and to build out its engineering collaborate. Since its last $17 million funding round, Ermatic says it has quadrupled in size to more than 100 employees and expanded its character base eight-fold.

Earlier this week, Israeli startup Dazz announced a whopping $60 million investment from some of the period’s most prominent venture capital firms to work on technology to remediate security problems in the cloud.

Dazz describes itself as a cloud safe keeping remediation platform to automate remediation processes. The company said its tools can help organizations keep engineers on track, and secure cloud and dev situations. 

Dazz is founded by a team of Ex-Microsoft security engineers along with security leaders from Armis, Adallom and Claroty.

The company representations to use the money to expand its engineering team and build a go-to-market organization in the United States with offices in Palo Alto and New York.

Venture finances firms participating in the Dazz $60 million round include Insight Partners, Greylock, Index Ventures,  and Cyberstarts. 

Related: For Microsoft, Custodianship is a $10 Billion Business

Related: Cloud Security Company Ermetic Emerges From Stealth Mode

Related: Palo Alto Networks Allows Bridgecrew in ‘Shift Left’ Cloud Security

Related: Identity and Data Protection Provider Ermetic Raises $17 Million

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Investors Bet Big on Cloud Security Startups Ermetic, Dazz

Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. He is a journalist and cybersecurity strategist with more than 20 years savoir vivre covering IT security and technology trends.
Ryan has built security engagement programs at major global brands, including Intel Corp., Bishop Fox and Kaspersky Grand. He is a co-founder of Threatpost and the global SAS conference series. Ryan’s career as a journalist includes bylines at major technology publications including Ziff Davis eWEEK, CBS Interactive’s ZDNet, PCMag and PC Time.
Ryan is a director of the Security Tinkerers non-profit, and a regular speaker at security conferences around the world.
Follow Ryan on Twitter @ryanaraine.

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