Cloud Security Company Orca Raises $550 Million in Extended Series C Round
Cloud security company Orca Security on Tuesday announced that it has raised $550 million in an extended Series C funding round, at a valuation of $1.8 billion.
Orca announced in March that it had raised $210 million in a Series C round that valued the company at $1.2 billion.
The extended round was led by Temasek, a state-owned investment company in Singapore, with strategic investments from SAIC and Splunk Ventures.
Orca said it will leverage Temasek’s investment portfolio and global network to expand in the APAC region. In addition, the company wants to continue expanding its footprint and customer base in the United Kingdom, as well as in the EMEA region. A new physical office will be opened in London, where the company will also have an R&D center.
The company has developed a cloud security platform designed to help organizations identify security and compliance issues. Its agentless SideScanning technology reads cloud configuration metadata and workload runtime block storage in an effort to identify potential vulnerabilities, misconfigurations, malware, password-related issues, weaknesses that can be exploited for lateral movement, and unprotected personal information.
“This latest funding round is testament to Orca’s hugely innovative technology combined with an incredible rate of net new client acquisition. For Enterprises, this is due to ease of use and agility, not just while getting into production by keeping all of their cloud real estate secure all of the time but, as importantly, by giving Enterprises the vital context that is needed to mitigate against ‘alert fatigue’,” said Andrew Bartlam, VP of EMEA sales at Orca Security.
“I’ve been part of four IPO’s in the past and the rate of growth and adoption that Orca is seeing is the fastest I’ve seen. Recent wins across EMEA include huge Enterprises across Healthcare, FMCG, Finserv, Telco, Media and others. To that end, Orca will shortly be opening a London office to better support our clients across EMEA and to act as both a commercial hub and development center in the region,” Bartlam added.