Team8 Leads $11M Funding Round In Cloud Data Firm Dig Security

Israeli cloud data security company Dig Security, emerged from stealth mode this week announcing an $11 million Seed round fundraise for its cloud Data Detection and Response (DDR) solution. 

The round was led by early-stage venture firm Team8, alongside investments from Crowdstrike’s Falcon Fund, new strategic investors CyberArk and Merlin Ventures, and angel investors Tom Killalea, chairman of MongoDB; venture capitalist Jeff Fagnan; Nir Polak, founder of Exabeam; Ori Fragman, European chief information security officer at Ahold Delhaize; and Nitzan Shapira, founder of Epsagon. 

Founded by veteran entrepreneurs Dan Benjamin, Ido Azran, and Gad Akuka, Dig Security helps organizations discover, monitor, protect, and govern their cloud data in real time through a single unified policy engine because data is most often the target of cyberattacks due to its easy profitability. Dig’s solution, which is compatible with all data assets across public clouds, can instantly recognize suspicious or anomalous activity and thwart cloud data attacks, infiltrations, and employee data misuse. The solution can also detect “whether each data source supports compliance like SOC2 and HIPAA,” according to the announcement.

“I’ve spoken to more than a hundred CISOs and hear the same complaints over and over”, said Dan Benjamin, CEO and co-founder of Dig Security. “Companies don’t know what data they hold in the cloud, where it is, or — most importantly — how to protect it. They have tools to protect endpoints, networks, APIs… but nothing to actively secure their data in public clouds”.

“It’s rare to meet a founding team who have both an insider view of cloud security challenges from within Microsoft and Google’s cloud organizations, alongside the experience of founding successfully acquired security companies,” said Liran Grinberg, co-founder & managing partner at Team8. “Dig’s active approach, bringing detection and response to data in the cloud, is precisely what the market needs. Data security in the cloud is high on the priority list of most CISOs today and we’re proud to invest in the company we believe will lead this category.”

“Organizations that lack visibility across their infrastructure have data protection challenges,” said Michael Sentonas, CTO at CrowdStrike. “Through our Falcon Fund, we look forward to supporting Dig in their journey to provide data transparency, improving cloud data security and protection.”