Orca Security Seeks UK Expansion with £405m Funding

Israeli firm is opening a physical office in London, where it will have an expanded sales presence, and a new R&D centre, its first outside of Tel Aviv.

Israeli company Orca Security plans UK and EMEA expansion with the $550 million (£405.5 million) it got in its extended Series C fundraising round.

The round was led by Temasek, an investment company headquartered in Singapore. It boosted Orca’s valuation 50% in seven months to an impressive $1.8 billion (£1.3 billion).

The round also includes participation from venture capital firms CapitalG (Alphabet’s independent growth fund), Redpoint Ventures, GGV, ICONIQ Capital, Lone Pine Capital, Stripes, Adams Street Partners, Willoughby Capital, and Harmony Partners.

“Customers are fed up with agent-based tools that claim run-time protection but de facto are little more than a gimmick, typically reach only a fraction of the environment, and don’t provide the context security teams desperately need to prioritise critical alerts,” says Avi Shua, CEO and co-founder, Orca Security.

In a blog post, Shua adds: “There are many reasons why there are no easy fixes. The risk of false positives and their impact on business continuity is a major one. I wouldn’t want to travel on a plane with an AI-based cyber tool with a ‘block’ policy enabled on its critical systems bus. Many times, these are overpriced signature matching devices that can be evaded in a few minutes’ work.”

The cloud security company has offices in Tel Aviv and Los Angeles. It cites Gartner, which reckons by 2023, 70% of all enterprise workloads will be deployed in cloud infrastructure and platform services, up from 40% in 2020.

Orca offers its Cloud-Native Application Protection Platform (CNAPP) for the detection and prioritisation of security issues.

Orca will use Temasek’s investment portfolio and global network to deepen its penetration into the APAC region and beyond, and into industries such as telecom, financial services, transportation and consumer goods. The firm plans to have over a dozen employees in the APAC region by the end of 2021.

In terms of the UK, Orca will also expand its footprint in the country and across the EMEA region. The company is opening a physical office in London, where it will have an expanded sales presence, and a new R&D centre, its first outside of Tel Aviv. Orca Security plans to have over two dozen employees working in London by the end of the year.

Orca is having a whale of a good time at present. It was founded in 2019 and says it got 800% year-over-year growth. It also recently hired Meghan Marks as chief marketing officer. This appointment comes on the heels of Andy Ellis joining as advisory CISO.

Its patent-pending SideScanning technology collects data directly from cloud provider APIs and the workload’s runtime block storage out-of-band.

There is a one-time deployment, and Orca surfaces critical attack vectors, composed of the most serious risks such as vulnerabilities, malware, misconfigurations, weak and leaked passwords, lateral movement risk and misplaced PII.

Orca guarantees 100% security coverage for all cloud assets including virtual machines, containers, serverless functions, cloud storage buckets, VPCs, cryptographic keys and security groups.

The company adds that it has compliance for Amazon Web Services (AWS), Google Cloud and Microsoft Azure.

It has plenty of famous clients, such as Databricks, Robinhood, Autodesk, News Corp, NCR, Duolingo, Unity Technologies and Druva.

Antony Peyton
Antony Peyton is the Editor of eWeek UK and has 17 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.

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