Venrock completed a $15.7 million Series B funding round for Evident.io, a provider of security and compliance software for cloud computing platforms. Bain Capital and True Ventures have previously invested in Evident.io.
Evident.io, the leading provider of cloud infrastructure security and compliance automation, announced today that they completed a Series B funding round with Venrock valued at $15.7 million. Venrock is a premier venture capital firm with an impressive portfolio of companies including Checkpoint, Imperva, CloudFlare, PGP, Vontu and Niara.
“Venrock is one of the most successful and well respected venture capital firms in the technology sector,” said Tim Prendergast, cofounder and CEO of Evident.io. “Their support affirms our company’s high value pedigree and validates that our solutions are truly defining a new era for cloud infrastructure security, incident response, and compliance.”
Evident.io enjoys a unique competitive advantage in the market by providing organizations with unparalleled continuous monitoring and remediation capabilities by way of an agentless vulnerability and configuration management solution that automates security and compliance requirements.
As organizations of all sizes are continuing to accelerate the adoption of public cloud offerings, there is increasing demand for innovative cloud-native tools to manage an entirely new category of risks. The investment by Venrock will empower Evident.io to expand on its current offerings as well as develop new capabilities for securing sensitive workloads while satisfying compliance demands on multiple cloud platforms, all through a single solution.
“Effective security orchestration and management of public cloud infrastructure requires new technologies that are not only designed in the cloud, but also specifically for the cloud,” said Justin Lundy, cofounder and CTO of Evident.io. “Our team’s extensive history of being on the front lines of security for Fortune 500 companies combined with our passion for innovation allows us to accelerate the development of the advanced security capabilities organizations need today.”
Venrock’s investment, along with those made previously by Bain Capital and True Ventures, allows Evident.io to expand this unique offering beyond Amazon Web Services (AWS) to include other leading cloud provider platforms, enabling organizations to better protect their increasingly diverse workload deployments in spite of a serious cloud security skills shortage.
“Two of the biggest challenges businesses face in information security are a lack of security talent and the risks associated with migrating sensitive data to cloud environments, and Evident.io has delivered a security platform that address both of these challenges,” said Doug Dooley of Venrock. “The depth of visibility through automation provided by Evident.io represents a significant force multiplier for existing security talent, and the breadth of risk management capabilities that the team has developed is nothing less than impressive.”
Dooley will join the Evident.io Board of Directors, which includes Bain Capital’s managing director and former Symantec CEO Enrique Salem, and True Ventures partner Puneet Agarwal.
“Evident.io has emerged as the clear leader in cloud infrastructure security, with plans to grow and expand far beyond their current value proposition,” said Agarwal. “We’re thrilled to continue our support of the Evident.io team as they continue to innovate around cloud security and compliance.”
Evident.io also announced that veteran security executive Jeff Williams, Operating Partner at Bain Capital Ventures, has joined the company’s executive team as interim Senior Vice President of Sales to lead sales strategy and execution globally.
Well-known for his success at FireEye, IronPort Systems (acquired by Cisco in 2007), IntruVert Networks (acquired by McAfee in 2003) and GlobalCenter (acquired by Exodus Communications in 2001), Williams joined Evident.io as part of a strategy for pursuing aggressive expansion commensurate with the rapidly growing Cloud Infrastructure Security market.
Williams’ expertise focuses on infrastructure software and security, with more than 25 years of operating experience in assisting early-stage enterprise security companies to scale rapidly. He has assumed numerous board of director roles while partnering with management teams to develop aggressive go-to-market strategies and efficient sales engines designed to engage large enterprise customers.
“Evident.io is uniquely positioned to extend its leadership in public cloud security and compliance automation, with a value proposition that no other competitor can match,” said Williams. “With this new round of funding, and an expanded board of directors and executive team, we believe that Evident.io has the ideal combination of financial stability, leadership talent and exceptional technology to deliver tremendous value to the market.”
Evident.io is the pioneer and leader in security and compliance automation for public cloud. The Evident Security Platform (ESP) enables organizations of all sizes to proactively manage cloud security risk — minimizing attack surface and improving overall security posture, all from a single dashboard. ESP continuously monitors an organization’s entire AWS footprint, identifying and assessing security risks, providing security staff with expert remediation guidance, and enabling painless security auditing and compliance reporting. Built on Amazon Web Services APIs, ESP is agent-less and can be deployed to even the most complex environments in minutes. Evident.io is a privately held company based in Dublin, CA and backed by Bain Capital Ventures and True Ventures. For more information, please visit: www.evident.io. Evident.io is an AWS Advanced Technology Partner (the highest tier of partnership with Amazon Web Services), a corporate member of the Cloud Security Alliance, and a participating organization of the PCI Security Services Council (SSC).