Singapore’s Temasek has led a $550 million funding round in Israel-based Orca Security, a cloud security provider.
U.S. engineering and enterprise IT services provider SAIC and the venture capital arm of Splunk Inc also invested in latest round, which is an extension of its previously announced Series C in March that valued Orca Security at $1.2 billion, according to the company.
Other participants include venture capital firms such as ICONIQ Capital, Stripes, Alphabet Inc’s independent growth fund CapitalIG, and Adams Street Partners, the statement added.
Global Expansion
With this fund raise, Orca Security plans to grow its presence and customer base in the UK, Europe, Middle East and Africa. Orca has pioneered an approach called SideScanning, which is a radical new approach to cloud security that addresses the shortcomings of agent-based solutions.
“There are many reasons why there are no easy fixes. The risk of false positives and their impact on business continuity is a major one. I wouldn’t want to travel on a plane with an AI-based cyber tool with a ‘block’ policy enabled on its critical systems bus. Many times, these are overpriced signature matching devices that can be evaded in a few minutes’ work,” stated Avi Shua Co-founder and CEO.
We’re providing the worlds’ most comprehensive cloud security solution – detecting risks that normally would require half a dozen tools to handle. Most importantly, we don’t hand practitioners a list of a million ‘critical’ alerts and tell them to ‘go figure.’ Rather, Orca uses an innovative, graph-first contextual approach to prioritize the 0.1 per cent of risks that really matter – freeing your security teams to spend their precious time on the truly critical attack vectors that can actually be exploited, Shua added.
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