Lacework Nets 8.3 B in New Financing Round

Data-driven cloud security platform Lessworks has announced that it has raised $1.3 billion in growth funding, raising the company’s valuation to $8.3 billion.

Based on the idea that cloud security is essentially a data-driven platform, LessWork believes it is able to improve organizations’ cloud security by rethinking traditional approaches to security.

Lesswork’s cloud security platform enables organizations to automate their cloud security by understanding cloud change at scale, without the manual intervention of security teams. It is this aspect that the company sees as a pioneer for secure innovation at high speed along with its customers.

“As organizations of all sizes continue to build applications in the cloud, more critical data will be exposed and misused. Lessworks is building an impressive business by providing companies with a transformational approach to securing their data in the cloud.

Morgan Stanley Head of Counterpoint, Dennis Lynch said. “This approach is already delivering 3x year-over-year revenue growth and we believe there is still substantial opportunity ahead. We are excited to partner with Laceworks in advancing our strategy for long-term sustainable growth.”

Lessworks is now able to collect, analyze, and correlate data across organizations’ AWS, Azure, GCP and Kubernetes environments, narrowing that data down to meaningful security events.

The San Jose-based company’s cloud security platform also includes workflow integration with Kubernetes, Terraform and Jira, as well as growing partnerships with Snowflake, New Relic, Amazon Web Services, Google Cloud Platform, Microsoft Azure, and Presidio. Including channel sharing.

EVOTEK, GuidePoint, Globaldots and Katana. It’s this long list of partners that Laceworks sees as the key to helping it build top speed. The company also says that its existing partners power more than 60 percent of its new business.

Laceworks says it will use its recent funding to advance its investments in innovation — working to expand the company’s overall addressable market and pursue additional strategic acquisitions such as the recently announced convoluted transaction. Used to be.

The company sees that recent transaction as an enhancement to the already widely used Lessworks cloud security platform, allowing organizations to integrate security practices earlier into their software delivery process. It’s the kind of automation that potential customers see as a serious problem these days.

“As enterprises move more quickly to cloud-native architectures, the cybersecurity industry urgently needs more automation, higher signal-to-noise and low point solutions. It is a daunting task and one for it.

There is a need for a platform that can scale with the massive growth of data flowing through an organization’s cloud infrastructure,” said Matt Ciopa, vice president at Franklin Templeton. “To do this, Lessworks has built something like Which is powerful and unparalleled, which establishes it as one of the most important cyber security companies of this generation.”

Last week’s fundraising announcement is the largest funding round in the history of the security industry, Laceworks said. It now appears to be continuing its rapid global expansion amid a valuation of over $8 billion.