Cloud data security company Dig Security emerged from stealth today (Thursday), announcing an $11 million seed funding round. The seed round was led by Team8, with participation from CrowdStrike’s Falcon Fund, and angel investors Tom Killalea (Chairman of MongoDB), Jeff Fagnan (Carbon Black, Veracode), Nir Polak (Founder of Exabeam), Ori Fragman (CISO Europe of Ahold Delhaize) and Nitzan Shapira (Founder of Epsagon). CyberArk also joined as strategic investors alongside Merlin Ventures.
The first cloud Data Detection and Response (DDR) solution
Data is the ultimate target of most cyberattacks; it’s the easiest way to profit from hacking. However, data in the cloud is fragmented across multiple clouds and services. A typical enterprise stores data on more than 20 types of services and thousands of instances. These organizations don’t have visibility, context, or control over their cloud data. Existing data security solutions weren’t built to protect cloud data and are often irrelevant.
Dan Benjamin, CEO, and co-founder of Dig realized this problem; time and time again, companies don’t know what data they hold in the cloud, where it is, or — most importantly — how to protect it. They have tools to protect endpoints, networks, and APIs, but nothing to actively secure their data in public clouds. So, organizations lack visibility across their infrastructure and thus have data protection challenges. This is a big pain point for CISOs which is why Benjamin and his co-founders set out to solve this challenge.
Dig Security helps organizations discover, monitor, detect, protect, and govern their cloud data in real-time through a single unified policy engine. With their DDR, they are giving organizations complete control over their cloud data. They do so by using comprehensive threat models for cloud data attacks which allows them to analyze and respond to threats to cloud data, triggering alerts on suspicious or anomalous activity, stopping attacks, exfiltrations and employee data misuse–all in an instant. The solution discovers all data assets across public clouds and brings context to how they are used. It also tracks whether each data source supports compliance like SOC2 and HIPAA. As Liran Grinberg, Co-Founder & Managing Partner at Team8 reiterated “Dig’s active approach, bringing detection and response to data in the cloud, is precisely what the market needs. Data security in the cloud is high on the priority list of most CISOs today and we’re proud to invest in the company we believe will lead this category.”
Dig has already grown extremely quickly; the company already has a large data security research team and paying customers. The capital raised will allow Dig to continue developing the product and accelerate the company's activity in the global markets. They also plan on significantly increasing the number of employees by the end of the year.
Dig was founded in 2021 by Dan Benjamin (CEO), Ido Azran (VP R&D), and Gad Akuka (CTO). They currently employ about 30 people in Tel Aviv in the fields of information security, research and development.