Grip Security raises $25M Series A for its SaaS security platform – TechCrunch

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Grip securityToday, a Tel Aviv-based startup that helps businesses protect their data with SaaS applications Intel Capital.. YL Ventures, Leaded the company $ 6 Million Seed Round I also participated in this round earlier this year.

As Grip CEO and co-founder Lior Yaari told me, Grip may still be a young company, but marketing to companies tends to be a slow process, but the team has seen significant growth for investors. I was able to show. It was only officially established in February. For example, he said, the number of users covered by the product increased tenfold each quarter. Over the last nine months, Grip has also signed up for a wide range of customers, including Fortune 500 companies and small start-ups.

Traditionally, these companies have used Cloud Access Security Brokers (CASBs), which act as an intermediary between employees and the services they use. Ideally, this helps enterprise IT teams know exactly who has access to these tools and how they use these services. But in reality, employees often bypass these tools, making data governance difficult or even impossible.

“Remember the old days. On our pitch we explained the area of ​​the problem and how SaaS is growing, and it has moved to the point we just ask. Today. How do you solve it? Everyone I meet has an answer, “Yaari said. “The answer is,” I’m managing an Excel spreadsheet, so it’s a lot easier to discuss. Excel sheets become obsolete the moment something is written. A few seconds later, someone puts them in a new application. Sign up and the documentation is out of date. Therefore, they do it or use legacy technology, but they are often false positives, very difficult to operate, and not fully viable. , Show the dashboard and proceed with the discussion. “

Grip promises that within 15 minutes of installing the service, the service can provide the enterprise with a complete SaaS inventory, without agents or proxies. That alone is already very useful for users, but the team has learned a lot from working with early customers, Yaari said.

“When we interact with our customers and see the problems they face and the challenges they face as partners who help them solve them, not from the side, we turn our vision into a day-to-day security struggle. It has expanded. The team, “he explained. Specifically, this means helping the company, for example, with the day-to-day access control issues that employees face when they leave the company. “When considering the next step, we want to build a compelling and comprehensive access management solution,” he said. “Today’s users of SaaS applications can theoretically go home to open their private laptops and access the application itself. For years, SaaS security solutions have been based on the network security paradigm and organizations. I’ve put proxies on my network, but when someone goes home, malicious attackers who access the application if they steal a password from one of their employees aren’t covered again. “

Grip knows all the applications used by a particular company and believes that these companies can also help enforce access based on company policy. The current plan is for Grip to launch this new solution in the coming months.

Sunil Kurkure, Managing Director of Intel Capital, said: “Because deploying existing products takes months and interferes with innovation and scale, Grip’s fast and easy deployment process can change the way SaaS security interacts with business workflows.”

Grip Security raises $25M Series A for its SaaS security platform – TechCrunch Source link Grip Security raises $25M Series A for its SaaS security platform – TechCrunch

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