Lacework, the security platform for the cloud generation, today announced a $525 million growth round with a valuation of over $1 billion. Led by Sutter Hill Ventures and Altimeter Capital, and joined by D1 Capital Partners, Coatue, Dragoneer Investment Group, Liberty Global Ventures, Snowflake Ventures and Tiger Global Management, the round reflects Lacework’s accelerated adoption among digital businesses building on Amazon Web Services (AWS), Microsoft Azure, Google Cloud, and Kubernetes.
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Lacework is trusted by cloud-based businesses such as Brightcove, LendingTree, Veeva Systems, and Pure Storage. The investment round will be used to accelerate the strategies that drove Lacework’s 300%+ revenue growth in 2020, expand its go-to-market and partner ecosystem operations, and grow its engineering and R&D teams across the US and Europe.
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Constant Changes in the Cloud Require a Fundamental Shift In Security with Data Processing at Scale
Applications built on cloud infrastructure services are complex and change constantly, which makes securing cloud workloads and services at scale impossible when relying on manual tasks and disparate tooling. With the worldwide adoption of public cloud infrastructure as a service forecasted to grow from $51 Billion in 2020 to $82 Billion in 2022, comes a heightened demand for cloud security and compliance. Gartner, Inc. also anticipates that “99% of all cloud security failures will be the customer’s fault through at least 2023,” with 50% of companies unintentionally exposing components of their own cloud applications and infrastructure to the internet in 2021, up from 25% in 2018.
Lacework was built to see and understand cloud changes at scale without requiring manual interventions by security teams every time a new cloud service or technology is adopted. It gives customers the visibility, context, and telemetry needed to quickly assess cloud security postures, prove compliance, secure cloud workloads, and investigate anomalous activity or answer an auditor’s question all in one place.
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