Open Raven

Open Raven Raises $15M to Keep Data Secure in the Cloud

Cloud-based data security platform Open Raven announced Tuesday that it raised a $15 million Series A round four months after it emerged from stealth to announce seed funding.

The round was led by Kleiner Perkins as well as existing investors like Upfront Ventures, bringing its total capital raised to $19.1 million.

Open Raven is also backed by former Goldman Sachs Chief Information Risk Officer Phil Venables, who is also on the company's board of directors; RSA's former chief strategy officer Niloo Razi Howe; and another cybersecurity firm, Signal Sciences, whose CEO Andrew Peterson also calls L.A. home.

The company said in a news release that the new capital will be used to accelerate Open Raven's growth by expanding key functions in engineering, customer support, sales and marketing. The company also announced that Bucky Moore, a partner at Kleiner Perkins, also joined the Open Raven board of directors.

"The transition to the cloud and out of physical data centers means that data stores change more quickly than ever before – leaving numerous unanswered questions," said Dave Cole, co-founder and CEO of Open Raven, in a statement. "Security and cloud infrastructure teams are wondering, 'what AWS accounts don't we know about?' 'Is there any data at risk right now?'"

Cole was a former chief product officer for Crowdstrike and Tenable Network Security. His co-founder is Mark Curphey, who founded SourceClear and previously worked at Microsoft.

Cole told dot.LA in February that the company aims to combat the ever increasing number of data breaches that have sucked up consumer data with open source tools.

The platform maps all cloud data stores, identifies the data within them, pinpoints significant exposures and lets teams fix them before they become security incidents, according to Open Raven. It also allows for real-time monitoring.

Their security product is free — though users can opt to pay for a higher-powered version — and created to be friendly for those who aren't trained in data security, Cole said. Open Raven uses a 3D map that helps visualize their systems so users can clearly see where data is and whether it's secured.

"We're giving organizations the ability to take charge of their data and explore their environments from any angle in order to truly understand their risk of cloud data breaches," Cole said in a statement Tuesday.

A Gartner Inc. report found that by 2022, 75% of all databases will be on a cloud platform. The sprawl of data across cloud environments is not the scenario that more traditional data loss and breach prevention tools were designed to control.

"Today's data security problem bears little resemblance to the historical challenges that drove the creation of the last generation of products," said Moore. "Unlike legacy solutions...Open Raven solves for modern complexity with a platform purpose-built for the massive data exposure issue."

The company said Tuesday that its "Open Raven Community Edition" is now generally available and delivers real-time data leak monitoring to proactively uncover cloud data that's exposed before they become security incidents.

The platform shows every Amazon Web Services account and asset, for example, from every angle in a global 3D map that makes it easy for security teams to maintain compliance and prevent data mishaps, Open Raven said.

Open Raven's "preview edition" of its platform has been deployed since February at "numerous global organizations" in industries including automotive, gaming, financial technology and software, the company said.


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