Israeli cloud security firm Orca Security announced on Tuesday that it has extended its Series C funding round to $550 million, boosting the company’s valuation by 50 percent to $1.8 billion in just seven months.
The company raised $340 million to add to an investment of $210 million, which was raised in March and led by CapitalG (the growth fund of Google’s parent company Alphabet) and Redpoint Ventures.
The fresh funding round was led by Singapore-headquartered investment firm Temasek, with substantial participation from venture capital firms CapitalG, Redpoint Ventures, GGV, ICONIQ Capital, Lone Pine Capital, Stripes, Adams Street Partners, Willoughby Capital, and Harmony Partners.
Orca Security said it will leverage Temasek’s investment portfolio and global network to enter into the Asia-Pacific (APAC) region and beyond, and into key industries such as telecom, financial services, transportation, consumer goods, and more. The startup said that it plans to have more than a dozen employees in the APAC region by the end of this year.
Founded in Orca Security was founded in 2019 by former Check Point Software CTO Avi Shua and former Check Point executive Gil Geron. The startup says it created the first and only cloud security solution that can find vulnerabilities, malware, misconfigurations, leaked and weak passwords, lateral movement risk, and high-risk data without agents or per asset integrations, within minutes.
“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 prioritize critical alerts,” said Orca Security’s CEO and co-founder, Avi Shua,
“Our growth is exploding because Orca Security simply works. We provide fast, agentless deployment, 100 percent coverage of all cloud assets, and automatic prioritization of the alerts that demand quick action.”
In addition, the company has set it sights on the Europe, Middle East and Africa (EMEA) region, as it is set to open a physical office in London, including a new R&D center, it’s first outside its Tel Aviv base. Orca Security plans to have some two dozen employees set up in London by the end of 2021.