Lacework Closes $24 Million Series B Financing with Sutter Hill Ventures to Expand Go-to-Market for Game-Changing Cloud Security Solution

MOUNTAIN VIEW, Calif., Aug. 28, 2018 /PRNewswire/ -- Lacework®, the industry's first solution to bring automation, speed and scale to cloud security, today announced the closing of a $24 million Series B funding round led by Sutter Hill Ventures. Lacework will leverage these funds to facilitate immediate growth in global sales and marketing capabilities and accelerate adoption and deployment of its game-changing security solution which empowers organizations with automated, end-to-end security and compliance for public clouds. Additional investors participating in this funding round include Liberty Global Ventures, Spike Ventures and the Web Investment Network (WIN), and AME Cloud Ventures, bringing Lacework's total funding to date to $32.7 million.

"Lacework's platform is helping enterprises like Liberty Global offer better service to its customers by enabling a secure cloud platform," said Ankur Prakash, Vice President at Liberty Global Ventures. "Our investment acknowledges Lacework's success in reducing speed and scale constraints facing business when dealing with issues around cloud security."

Security remains a constant roadblock for many organizations wanting to innovate quickly within public clouds. ESG Global reports on the obvious opportunity for cloud security innovations: "Traditional, network-centric security solutions built for static environments are showing their limitations in the ephemeral constructs of public cloud computing. The mismatch generally results in outright failure ? 32 percent of enterprises have abandoned traditional security technologies because they couldn't be used effectively for cloud security."

Lacework is transforming the security industry by addressing the unique demands of the cloud: speed, scale and automation. With the Lacework Cloud Security Platform, security teams can minimize security risks, detect threats and close compliance gaps without slowing down the pace of innovation.

"Public clouds have become the de-facto platforms where businesses innovate at speed. Our vision at Lacework is to become the de-facto security platform that enables these organizations to build cloud services fast and remain safe," said Stefan Dyckerhoff, President and CEO, Lacework. "With more than 20 customers in production, Lacework is a proven solution that delivers effective cloud protection at scale and with the speed required for high-velocity public clouds. Fast-growth companies with large footprints in public clouds have achieved continuous compliance and end-to-end security across highly dynamic development and production environments. It's time to combine automation, machine learning and analytics with human expertise to deliver security at scale."

Lacework was recently named a Cool Vendor in the May 2018 report, Cool Vendors in Cloud Security¹, by Gartner, Inc. The Lacework Cloud Security Platform uses machine learning to analyze the billions of events generated by modern clouds, baseline the normal behavior of each cloud deployment, and automate the detection and scoring of risks across the cloud's multiple attack surfaces. The result is continuous, end-to-end and more effective security for cloud environments. For more information on Lacework and the Lacework Cloud Security Platform, please visit www.lacework.com.

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About Lacework
Lacework is the industry's first solution to bring automation, speed, and scale to cloud security enabling enterprises to safely innovate fast in the cloud. Unlike conventional security tools built for static datacenters, Lacework is designed to self-adapt to the cloud ever-changing configuration and workloads. Just like DevOps automates code deployment, Lacework automates cloud security, empowering IT to continuously keep cloud environments secure and compliant. Based in Mountain View, California, Lacework is a privately held company funded by Sutter Hill Ventures. Find out more at www.lacework.com.

Media Contact
Jacqueline Meyler
Lumina Communications on behalf of Lacework
(669) 234-9775
[email protected]

¹ Gartner Cool Vendors in Cloud Security by Jay Heiser, Neil MacDonald, Lawrence Orans, Steve Riley, May 7, 2018.

SOURCE Lacework