Sonrai Security raises $50m in ISTARI-led Series C round

Sonrai Security, a Fredericton, New Brunswick and New York-based public cloud security company, has raised $50 million in Series C financing.

Sonrai Security, a Fredericton, New Brunswick and New York-based public cloud security company, has raised $50 million in Series C financing. ISTARI, a cybersecurity platform launched by Singapore’s Temasek, led the round with participation from existing investors Menlo Ventures, Polaris Partners, TenEleven Ventures and New Brunswick Innovation Fund. Sonrai has to date collected $88 million in funding.

PRESS RELEASE

NEW YORK — Oct 26, 2021 — Sonrai Security, a leader in public cloud security, today announced that it has secured $50M in Series C funding in a round led by ISTARI, a global cybersecurity platform dedicated to helping clients build cyber resilience, with participation from existing investors Menlo Ventures, Polaris Partners, TenEleven Ventures and New Brunswick Innovation Fund. The Series C round brings the total capital raised by Sonrai to $88 million. Sonrai plans to use new funding to accelerate research and development and expand sales and marketing globally for the company’s industry-leading cloud security platform.

“We are building our portfolio based around our clients’ most pressing cybersecurity needs. Cloud security is one of their key focus areas and Sonrai’s best of breed platform is the perfect complement to our portfolio,” said ISTARI’s Chief Portfolio Officer Amit Jasuja, who will join the Sonrai Security board of directors. “We aim to be an accelerator for Sonrai’s growth journey, whilst helping our clients further uncover and reduce risks.”

Public cloud complexity for global enterprises is exploding as microservices, workloads and associated ‘non-people’ identities proliferate rapidly. Sonrai has identified 17,000 unique permissions settings across AWS, Azure and GCP cloud platforms with approximately 20 new permissions added daily. Recent studies from Gartner Research predict that, “through 2025, more than 99% of cloud breaches will have a root cause of customer misconfigurations or mistakes,” (1) and that, “by 2024, organizations running cloud infrastructure services will suffer a minimum of 2,300 violations of least privilege policies, per account, every year.” (2)

Sonrai Security’s cloud security platform extends cloud security posture management (CSPM) with identity and data security for public clouds to automatically eliminate complexity and risk. In addition to CSPM, Sonrai Dig also addresses cloud infrastructure entitlement management (CIEM), data classification, and configuration management. This enables companies to enforce compliance, achieve and maintain least privilege, enforce separation of duties, and lockdown critical data; all ways to minimize exposure to threats in the cloud. Built-in industry best practices with maturity modeling, workflow, advisors and automation support amazing cross team cloud security operations.

“Securing identities and data is central to Sonrai Security’s approach for protecting enterprise AWS, Azure and GCP cloud infrastructures,” said Brendan Hannigan, CEO and co-founder of Sonrai Security. “Large enterprises have embraced this approach, and our latest funding round supports our global expansion and ensures that our platform will continue to provide the most advanced multicloud security capabilities available in the market. ISTARI’s unique value proposition of capital, global client relationships and thought leadership will be a catalyst for our business.”

About Sonrai Security
Sonrai Security delivers enterprise cloud security for companies running on AWS, Azure, and Google Cloud. Powered by our cloud identity graph, Sonrai combines CSPM, CIEM, and data security in one platform. Best practices, workflow, advisors, and automation supports amazing cross-team cloud security operations. Sonrai Security has offices in New York and New Brunswick, Canada and is backed by ISTARI, Menlo Ventures, Polaris Partners, and TenEleven Ventures. For more information, visit https://sonraisecurity.com/