MORRISVILLE, N.C.–(BUSINESS WIRE)–JupiterOne, Inc. today announced $19 million in venture funding to help companies automate asset discovery, visibility and compliance as a critical foundation for cyber security. JupiterOne closes an important gap for CISOs, security operations, and compliance officers by providing automated, accurate and actionable visibility to their global asset inventory. The Series A funding round was led by Bain Capital Ventures, with additional investment from Rain Capital, LifeOmic, and individual investors.
Cyber security asset management is a fast-growing segment of the global security and compliance market, estimated to reach $8.5 billion in spending by 2024. JupiterOne serves a critical need by reducing cost and complexity and providing in-depth visibility for cloud posture management, risk analysis and compliance reporting, vulnerability management, threat hunting, and incident response. Current customers include leading cloud-native organizations such as Reddit, Databricks, HashiCorp, Addepar, Auth0 and OhMD.
JupiterOne significantly reduces the time and effort required to collect and analyze assets, demonstrate compliance, remediate security gaps, and improve the organization’s overall security posture. The solution replaces manual asset inventories and survey-driven security assessments with a data-driven approach to provide an objective and continuous outcome. JupiterOne technology provides granular visibility into software-defined assets and resources, and deep understanding of security vulnerabilities.
“Security is a basic right for every organization, but cost and complexity are major barriers,” said Erkang Zheng, founder and CEO of JupiterOne. “We built JupiterOne because we saw a gap in how organizations manage the security and compliance of their cyber assets day to day. Compliance should be a natural outcome of doing security correctly, and that starts with understanding what resources you have, how they are configured, who owns them, and how they are connected to each other.”
JupiterOne was founded as a subsidiary of LifeOmic, a cloud-native healthcare software company. Erkang served as LifeOmic’s chief information security officer, and initially built JupiterOne to support security and compliance needs for LifeOmic’s cloud software. After hearing feedback from customers on the value of its novel approach to automating security operations and compliance, LifeOmic productized this solution as JupiterOne. Prior to LifeOmic, Erkang had previously spent 15 years as a security practitioner and leader with Fidelity, IBM, Cisco and others, seeing first-hand that too many security teams are operating without granular visibility into the security and compliance of their cyber assets.
“JupiterOne has developed a compelling product that integrates quickly, has applicability across enterprise segments, and is highly reviewed by current customers,” said Enrique Salem, partner at Bain Capital Ventures, and former CEO at Symantec. Salem now joins the JupiterOne board. “We see a large multibillion dollar market opportunity for this technology across mid-market and enterprise customers. Asset management is the first step in building a successful security program, and it’s currently a tedious, imperfect process that’s well-suited for automation.”
“JupiterOne prospects say time and again that there’s no solution as mature or as sophisticated as what JupiterOne is bringing to the market,” said Dr. Chenxi Wang, general partner at Rain Capital. “The cross-platform graph data model is a game-changer. Cyber security and asset management can no longer be managed separately. The two pieces are merging together, and JupiterOne is helping companies adjust to that new reality.”
Erkang and his team built JupiterOne to provide continuous, data-driven visibility across cyber assets and system configurations, eliminating guesswork for security operations teams, vulnerability managers, and threat hunters. JupiterOne received a 451 Firestarter award last year from technology research and advisory firm 451 Research, recognizing exceptional innovation within the technology industry.
Typical implementations of JupiterOne achieve:
- Strong Visibility of Global Asset Inventory: Get visibility across cloud, human, and digital operations through direct integrations with dozens of providers and services. Automate the discovery, security, and compliance for your global cyber asset inventory.
- Threat and Risk Reduction: Ask questions of your inventory to discover unknowns, gaps and vulnerabilities at their source. Make your data work for you, not the other way around. Find and follow up on issues with rapid querying of up-to-date asset data.
- Significant Cash Savings: Less is more. Reduce overall asset inventory costs and maintenance overhead with JupiterOne’s apps and technologies. Do more with fewer resources and lower your costs.
- Achieve Compliance Quickly: Speed up evidence collection and enable continuous controls monitoring by mapping data to requirements. Achieve compliance goals faster and more accurately than ever before.
- Securely Empower Your Digital Transformation: JupiterOne enables secure digital transformation with continuously updated asset and security models. Security is the biggest inhibitor to digital transformation. With JupiterOne, security for your assets as you transition to the cloud is not only possible, it’s easy.
For more information about the product, architecture, use cases and pricing, please visit JupiterOne’s website. JupiterOne also offers a free version of its software tailored to pre-revenue startups.
About Bain Capital Ventures
Bain Capital Ventures partners with disruptive founders to accelerate their ideas to market. The firm invests from seed to growth in startups driving transformation across industries, from SaaS, infrastructure software and security to fintech and healthcare to commerce and consumer tech. The firm has helped launch and commercialize more than 240 companies, including DocuSign, Jet.com, Kiva Systems, Lime, LinkedIn, Rapid7, Redis Labs, Rent the Runway, Rubrik, SendGrid and SurveyMonkey. Bain Capital Ventures has $5.2 billion in assets under management with offices in San Francisco, New York, Boston and Palo Alto. Follow the firm via LinkedIn and Twitter.
About JupiterOne
JupiterOne, Inc. reduces the cost and complexity of cloud security, replacing guesswork with granular data about cyber assets and configurations. The company’s software helps security operations teams shorten the path to security and compliance and improve their overall posture through continuous data aggregation and relationship modeling across all assets. JupiterOne customers include Reddit, Databricks, HashiCorp, Addepar, Auth0, LifeOmic and OhMD.
Follow JupiterOne via Twitter (@JupiterOne_io) or LinkedIn.
The post JupiterOne Lands $19 Million Funding Round to Fuel Data-Driven Approach to Cyber Asset Management appeared first on Cybersecurity Insiders.
September 20, 2020 at 09:08PM
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