Veza Announces $110M Financing from Top Venture Capital Firms

21
Veza Announces _110M Financing from Top Venture Capital Firms

Veza , a data security platform built on authorization capabilities , announced today that the company is officially out of stealth. Founded in 2020, Veza also announced a total of more than $110 million in funding from top venture capital firms including Accel, Bain Capital, Ballistic Ventures, GV, Norwest Venture Partners and True Ventures, as well as angel investments from prominent industry leaders. Industry leaders include Kevin Mandia, founder and CEO of Mandiant; Enrique Salem, former CEO of Symantec and partner at Bain Capital; Lane Bess, former CEO of Palo Alto Networks; ZScaler Former Chief Security Officer Manoj Apte; Joe Montana of Liquid2 Ventures; and Security Leaders Niels Provos, Karthik Rangarajan, and more.

While data is rapidly and irreversibly migrating to the cloud, organizations around the world are still missing a key aspect of data security: authorization. With traditional and first-generation data security solutions unable to operate in hybrid multi-cloud environments, data and security leaders face significant challenges related to: ransomware, digital transformation, cloud penetration, loss of customer trust due to data breaches , and failed audits and compliance. With data volumes set to triple between 2020 and 2025 and cybercrime incidents doubling annually , organizations need a data security solution that allows them to understand, manage and control who has access to what data and what action should be taken against it. what kind of action.

Tarun Thakur, co-founder and CEO of Veza, said: “ We started the company two years ago with a vision to help improve the state of data security for decades to come. Data and security teams are overwhelmed with tools and are still unable to Answering a fundamental question: Who has access to what data and what action should be taken on the relevant data? Thanks to the dedication of the team and valuable feedback from customers, Veza demonstrates the power of metadata empowerment as a source of truth that helps organizations Modernize data security in the hybrid multi-cloud era. We are committed to helping businesses build an environment of trust so they can unlock the full value of their data.”

Veza is the first and only authorization-based data security platform. The platform supports both on-premises and cloud systems, enabling data and security teams to understand data sensitivity; manage user identities; and manage service accounts for hundreds or even thousands of disparate data systems, applications, and cloud services. The core differentiating element of Veza is its Authorization Metadata Graph. These include:

  • High-performance streaming engine for out-of-band and agentless mode fusion with multiple cloud and on-premises identity, data, application, compute and infrastructure systems
  • A canonical object model that organizes identities, relationships, and refines data objects
  • A translation layer that handles and translates multiple system-specific permissions into natural language for data and security professionals, available from a single control panel
  • Data security applications including: real-time search for who has access to what; rich authorization workflows for access governance and rights management; pre-built alerts for least privilege violations and associated methods to remediate them; automated rules for remediation and Inquiries; suggestions, etc.

Also Read: Strengthening Supply Chain Security Against Cyber-Attacks

Nicole Perlroth, special advisor to Veza, former cybersecurity reporter for The New York Times, and advisor to the Bureau of Cybersecurity and Infrastructure Security, said: “ Finally, there is a startup to tackle the biggest cybersecurity challenge: our collective ignorance of our own data environment. So far, no executive has been able to say outright that they know where their data is and who has access to it. Veza makes it clear to them. This platform marks a major advance in cyber defense.”

Veza has earned the trust of numerous Fortune 500 companies and emerging organizations in a variety of industries including finance, healthcare, hospitality, media and technology, and high-tech. Veza’s clients include: ASAPP, ATN International, Barracuda Networks, Choice Hotels, InComm, Nozomi Networks, Translational Genomics Institute (TGen), and more.

“ Establishing and enforcing a data security strategy is challenging because of the myriad of data security products that can provide specific security controls for specific repositories or processing steps. This highlights the need and opportunity for market convergence and the emergence of new data security markets. Emerging, these new security marketplaces support appropriate business access rights across the entire lifecycle related to data usage or data sharing with partners.” Brian Lowans, Senior Director Analyst, Gartner Hype Cycle
, 2021 Data Security Hype Cycle

For more such updates follow us on Google News ITsecuritywire News. Please subscribe to our Newsletter for more updates.