Financing round led by Norwest Ventures, with participation from Sapphire Ventures and ServiceNow, underscores critical need for unified cloud-native security analytics
Uptycs announced that it has raised $50 million in a Series C funding round, bringing the company’s total amount raised to $93 million. This latest funding round was led by Norwest Venture Partners, with participation from Sapphire Ventures and ServiceNow Ventures.
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Uptycs provides the first cloud-native security analytics platform that enables endpoint and cloud security from a single platform. The solution provides a unique telemetry powered approach to address multiple use cases—including Extended Detection & Response (XDR), Cloud Workload Protection (CWPP), and Cloud Security Posture Management (CSPM). Uptycs enables security professionals to quickly prioritize, investigate, and respond to potential threats across a company’s entire attack surface.
“Recent global events have accelerated the adoption of cloud services and cloud-native approaches to improve resiliency, thereby permanently changing the attack surface,” said Ganesh Pai, CEO, Uptycs. “Data doesn’t live solely on the corporate network; productivity endpoints are mobile; production workloads are elastic and distributed across clouds; identity and access management has morphed into today’s firewall; and sensitive data lives in cloud-based apps like G Suite, Salesforce, and GitHub. It’s a completely different challenge to secure these attack surfaces, and we’re innovating to deliver a comprehensive solution. This round will help us continue to evolve our platform to enable enterprises worldwide to secure their endpoint and cloud resources both proactively and reactively.”
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The funding comes on the heels of significant momentum for Uptycs, marked by consecutive years of triple-digit growth. The company also introduced a number of best-in-class products to its portfolio, including advanced threat detection and investigation capabilities, a cloud security and compliance offering for AWS, and two open source telemetry connectors: kubequery and cloudquery. Uptycs also recently released its results from the 2020 ATT&CK® Evaluations for Enterprise performed by MITRE Engenuity, showcasing the platform’s strength in cross-platform threat detection.
Uptycs already serves a number of high-growth companies, Fortune 500 and FinTech firms including Comcast Security, Flexport, Lookout and more.
“After a thorough evaluation by our security engineering team, Uptycs was deployed on a large scale as a key component of our security posture,” said Leon Li, Vice President, Comcast Security. “The Uptycs platform provides a broad set of security capabilities with instant endpoint and asset visibility that powers detection and response as well as compliance and governance.”
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The new financing will fuel the next phase in Uptycs’ growth, including expanding the breadth of its cloud-native security analytics platform, and building out its global sales and marketing operations.
“Uptycs’ vision from day one was to create the industry’s most comprehensive cloud-native security analytics product—and they delivered,” said Dave Zilberman, General Partner, Norwest Ventures. “Their unique approach to unifying cloud and endpoint security is especially critical today as security teams look to strengthen their security posture as a result of remote work and accelerated cloud adoption. We believe they are poised to become the next security titan, and we look forward to playing a role in their growth.”
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