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Gem Security Announces $23 Million in Series A Funding to Accelerate Momentum in Cloud Detection and Response (CDR), Bringing Total Funding to $34 Million
Gem Security's CDR platform significantly shortens the time to detect, investigate, and contain cloud-native threats ? redefining security operations for the cloud era
NEW YORK, Sept. 27, 2023 /PRNewswire/ -- Gem Security, the Cloud Detection and Response (CDR) company, today announced $23 million in Series A funding led by GGV Capital and joined by IBM Ventures, Silicon Valley CISO Investments (SVCI), an array of notable angel investors, and existing investor Team8. This oversubscribed Series A, hot on the heels of Gem's Seed funding round, reflects investor trust based on solid market validation. This round follows the Seed round led by Team8, and brings Gem's total funding to $34 million.
The adoption of cloud infrastructure is rapidly increasing and diversifying the attack surface for organizations. In fact, organizations today maintain, on average, 65% of their infrastructure in the cloud, with 72% leveraging multi-cloud1. This new environment poses unprecedented threats and complexity, requiring novel approaches. As Gartner notes, "Modern malware and data breaches in cloud environments are often fileless and operate either solely in memory without leaving any trace on disk, or via APIs or integrated SaaS offerings, making it increasingly difficult or impossible to properly investigate with traditional forensic methods and tooling."2
Since launching in early 2023, Gem Security has dramatically scaled ARR by helping secure cloud operations for dozens of global organizations in diverse verticals including financial services, healthcare, manufacturing, energy, and information technology. The company has also been recognized in Gartner® research twice this year; in the Cool Vendorstm for the Modern Security Operations Center report3 as well as a Sample Vendor for Cloud Investigation and Response Automation (CIRA) in the Hype Cycle for Workload and Network Security, 20234.
While legacy approaches to detection and response have existed for some time, these traditional approaches fall short of solving the problem in the cloud era. The proliferation of cloud services across infrastructure, platforms, and software has fragmented the security landscape. Without tooling, security operations teams today struggle to manually collect and correlate the explosion of associated telemetry.
Gem Security delivers a purpose-built Cloud Detection and Response (CDR) platform that significantly shortens the time to detect, investigate, and contain cloud-native threats before it's too late. Moreover, it centralizes real-time visibility into multi-cloud environments, as well as provides cloud-native forensics and automated incident timelining to understand the root causes of a cloud breach.
Gem Security not only supports all major infrastructure platforms (AWS, Azure, Google Cloud and Kubernetes), but has also successfully collaborated with the AWS and Azure teams to identify and fix vulnerabilities, improving security for millions of users. Gem's platform easily integrates with existing security tools and workflows (SIEM/SOAR, CSPM, etc.), as well as leading platforms like identity providers, ticketing, source code repositories and secrets managers, leveraging the additional data for context analysis too.
"The cloud changes everything for security operations and incident response teams," said Gem Security Co-Founder & CEO Arie Zilberstein. "Traditional detection and response approaches weren't designed to address the dynamic and complex nature of multi-cloud environments, and cloud expertise is in short supply.
"Gem is redefining security operations for the cloud era, empowering teams with a simple, automated, and efficient approach that allows organizations to respond faster and minimize the impact of attacks in the cloud. Over the past year, we have earned the trust of our customers and partners and together we'll keep enabling cloud transformation while minimizing risk."
Gem Security's holistic approach for Cloud Detection and Response bridges the gap between security operations and cloud complexity. The Gem team has years of experience as incident responders working on some of the most sophisticated cloud attacks in the world. Those lessons have been built directly into Gem's comprehensive platform and workflows, enabling organizations to prepare, detect, investigate, and respond effectively.
"With the shift to the cloud, the security operations model needs to evolve," said Oren Yunger, Managing Partner at GGV Capital. "Security teams don't reliably know when they are being attacked, let alone why or how those attacks are occurring. Gem has built a unique platform that allows CISOs and their teams to prepare, detect, respond, and remediate cloud security attacks ? with context and fast."
1 2023 State of Cloud Threat Detection and Response Report, Google Cloud.
2 Gartner, Emerging Tech: Security ? Cloud Investigation and Response Automation Offers Transformation Opportunities, Lawrence Pingree and Mark Wah. 5 June 2023.
3 Gartner, Cool Vendors for the Modern Security Operations Center, Angel Berrios, Jeremy D'Hoinne, Pete Shoard, Evgeny Mirolyubov, Carlos De Sola Caraballo, 30 August 2023.
4 Gartner, Hype Cycle for Workload and Network Security, 2023, Charlie Winckless & Feng Gao, July 31, 2023
GARTNER, COOL VENDORS and HYPE CYCLE are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Gem Security
Gem Security is a rapidly growing Cloud Detection and Response platform provider that bridges the gap between security operations and cloud complexity. Headquartered in New York, Gem Security was founded by security industry veterans: CEO Arie Zilberstein, CTO Ron Konigsberg, and VP Product Ofir Brukner. Gem is funded by global investors such as GGV Capital, Team8, IBM Ventures, SVCI, and more. For more information, visit gem.security.
Media Contact:
Lazer Cohen
Concrete Media for Gem Security
[email protected]
SOURCE Gem Security
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