Cybersecurity firm JupiterOne has raised US$ 19M in venture funding in order to help companies automate asset discovery, visibility and compliance.
The Series A funding round was led by Bain Capital Ventures. It also received additional investment from Rain Capital, LifeOmic, and other individual investors.
Cyber security asset management is a fast-growing segment of the global security and compliance market. It is estimated to reach US$ 8.5B in spending by 2024.
Founded in 2018 by Erkang Zheng, JupiterOne reduces the costs and complexity of cloud security by replacing the guesswork with granular data about cyber assets and configurations. Their software helps to shorten the path to security and compliance through efficient and continuous data integration and relationship modelling across all assets.
JupiterOne is a subsidiary of LifeOmic, a cloud-native healthcare software company. Erkang Zheng was the chief information security officer at LifeOmic’s, and had built JupiterOne as a support for security and compliance needs for LifeOmic’s cloud software. As a result of positive feedback on the security model, LifeOmic productized this solution as JupiterOne. Mr. Zheng has also spent 15 years as a security practitioner and leader with Fidelity, IBM, Cisco and other companies
JupiterOne’s customers include Reddit, Databricks, LifeOmic, HashiCorp, Addepar, Auth0, and OhMD.
JupiterOne provides its customers in-depth visibility for cloud posture management, risk analysis and compliance reporting, incident response, vulnerability management and threat hunting. Their solution follows a data driven approach.
“Security is a basic right for every organization, but cost and complexity are major barriers. We built JupiterOne because we saw a gap in how organizations manage the security and compliance of their cyber assets. Compliance should be a natural outcome of doing security correctly, and that starts with understanding what resources you have, how they are configured, who owns them, and how they are connected to each other,” said Erkang Zheng, CEO of JupiterOne.
Key features of JupiterOne’s cybersecurity solutions:
- Strong Visibility of Global Asset Inventory
- Threat and Risk Reduction
- Significant Cash Savings
- Achieve Compliance Quickly
- Securely Empower Your Digital Transformation
About Bain Capital Ventures
Bain Capital Ventures invests from seed to growth in startups from various industries like SaaS, infrastructure software and security, fintech, healthcare, commerce and consumer tech. It has helped launch more than 240 companies. Some of them include DocuSign, Jet.com, Rent the Runway, Rubrik, Kiva Systems, Lime, LinkedIn, Rapid7, Redis Labs and SurveyMonkey among. Bain Capital Ventures holds assets worth US$ 5.2B. It has offices in San Francisco, New York, Boston and Palo Alto.
“JupiterOne has developed a compelling product that integrates quickly, has applicability across enterprise segments, and is highly reviewed by current customers,” said Enrique Salem, Partner at Bain Capital Ventures.
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