Fredericton, New Brunswick and New York-based Sonrai Security, a provider of public cloud security solutions, has secured US$20 million in a Series B financing, bringing total funding to US$38 million. Menlo Ventures led the round with participation from Polaris Partners and Ten Eleven Ventures. Menlo Ventures partner Venky Ganesan will join the board.
Sonrai Security Announces $20M in Series B Funding to Accelerate R&D and Expand Global Reach of Multicloud Identity and Data Governance Platform
October 15, 2020
NEW YORK–(BUSINESS WIRE)–Sonrai Security, a leader in public cloud security, today announced that it has secured $20M in series B funding in a round led by Menlo Ventures with full participation from founding investor Polaris Partners and Series A lead investor Ten Eleven Ventures. Menlo Ventures partner Venky Ganesan will join David Barrett and Alex Doll on the Sonrai Security board of directors. This new funding, which brings the total raised to $38M, will be used to accelerate research and development along with global sales and marketing activities for Sonrai Dig, the company’s industry-leading identity and data governance platform, which is currently used by a growing number of global enterprise organizations.
“The shift to the cloud is inevitable. And with that shift, cloud identity and data governance become primary concerns”
“The shift to the cloud is inevitable. And with that shift, cloud identity and data governance become primary concerns,” said Venky Ganesan, Partner at Menlo Ventures. “As enterprises move first to one cloud, and later to multiple clouds, the problems around access/privilege management, configuration drift, and sensitive data loss become increasingly complex. Drawing on a proven team with strong domain expertise, Sonrai built an incredible solution that wins over sophisticated cloud and security buyers. We’ve bet on this team before and are proud to back them a second time.”
Public cloud utilization by global enterprises generates hundreds of cloud accounts, thousands of data stores and tens of thousands of ephemeral pieces of compute involving multitudes of development teams. Improperly configured, this ever-expanding array of interdependencies and inheritances leads to many security risks including over-permissioned identities, separation of duties risks and excessive access paths to critical data. Legacy cloud security tools have failed to address identity and data complexity and either miss critical vulnerabilities or send continuous alarms, creating high levels of noise that overwhelm security teams’ resources, leading to inaction.
The Sonrai Dig platform automatically uncovers identity, data and cloud platform risks, automatically eliminates these risks and continuously monitors to ensure new risks and unusual activity are quickly identified. Sonrai Dig builds a comprehensive graph detailing every relationship between identities (people and non-people) and data that exist within cloud platforms like AWS, Azure, GCP and Kubernetes. DevOps-specific workflows represented graphically as swimlanes enable easy escalations, certifications and risk-exception handling and provide role-based access control for development, security, cloud and audit teams, to ensure adherence to policy.
“The increasing frequency of cloud breaches caused by identity and data access complexity has driven significant traction for our Sonrai Dig platform among large enterprises, who see it as the basis of their cloud security model,” said Brendan Hannigan, CEO and co-founder of Sonrai Security. “We are extremely pleased to partner with Menlo Ventures, whose long experience in this space will help us rapidly accelerate our expansion.”
About Sonrai Security
Sonrai Security delivers an enterprise identity and data governance platform for AWS, Azure, Google Cloud and Kubernetes. The Sonrai Dig platform is built on a sophisticated graph that identifies and monitors every possible relationship between identities and data that exists inside an organization’s public cloud. Dig’s Governance Automation Engine automates workflow, remediation, and prevention capabilities across cloud and security teams to ensure end-to-end security. The company has offices in New York and New Brunswick, Canada and is backed by Menlo Ventures, Polaris Partners and Ten Eleven Ventures. For more information, visit https://sonraisecurity.com/.
About Menlo Ventures
Menlo Ventures is a venture capital firm that strives to have a positive impact on everything we do. That’s why we support businesses including Carta, Chime, Harness, Poshmark, Pillpack, Roku, Rover, Uber and Warby Parker that are reimagining life and work for the better. Over 44 years, we’ve grown a portfolio that includes more than 70 public companies, over 150 mergers and acquisitions, and $5.5 billion under management. We invest at every stage and in every sector, with expertise in Consumer, Enterprise, and Healthcare. From developing market strategies to creating communities, we provide real impact where entrepreneurs need it most. When we’re in, we’re ALL IN.
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