DoControl, the automated SaaS security company, today announced it has raised a $30 million Series B funding round led by Insight Partners, with participation from existing investors, StageOne Ventures, Cardumen Capital, RTP Global and the CrowdStrike Falcon Fund.
Every modern company must deal with the risk of unmanageable SaaS data access, where sensitive company, employee, and customer data are stored within popular enterprise applications. Accelerated SaaS adoption, the growing complexity of SaaS ecosystems, and the lack of granular, automated access control leave organizations exposed to unauthorized and undetected data exfiltration. Moreover, with recent high-profile attacks, such as the alleged Okta, HubSpot, and Twitter breaches, which were caused by access control exploitation resulting in unauthorized access to sensitive customer data, companies and organizations need security more than ever. But when it comes to security control complexity and data access exposures, SaaS is gaining popularity when compared to the traditional Infrastructure-as-a-Service (IaaS). So much so that SaaS spending will outpace IaaS spending in 2022 by 41%. With data becoming the new hot commodity, security teams understand they now need to extend their Zero Trust architecture from the identity and network into the SaaS data layer; they need technology that quickly and effectively addresses these issues. So, they can turn to DoControl.
DoControl is an automated data access controls platform for SaaS applications. With their rapid enterprise adoption and ability to prevent data loss without slowing down businesses, they improve security and operational efficiencies with ease. DoControl harnesses user interactions and API access across SaaS applications and feeds it all to powerful no-code workflows that automatically identify, respond to, and remediate threats stemming from SaaS data policy violations. They mitigate the risk of costly data breaches created by unmanageable data across popular SaaS applications by eliminating the enterprise threats created by departing employees, third-party vendors, cross-team collaboration, and more. They are thus helping organizations prevent data breaches.
With the new capital, DoControl plans to scale its SaaS data security innovations, launch strategic channel and partnership programs, and continue its global growth, especially in the United States. They will double their headcount in hopes of meeting the needs of modern businesses reliant on SaaS tooling, while also extending its use cases to new vertical markets.
DoControl was founded in 2020 by Adam Gavish (CEO), Omri Weinberg (CRO), and Liel Ran (CTO). To date, they have raised a total of $43 million.