Cyral Closes $26 Million in New Financing as Customer Demand Soars
Recognizing a significant opportunity in data security, existing investors double-down on company’s unique approach to securing the modern data cloud
MILPITAS, Calif. — May 13, 2021 — Cyral, the first data security and governance solution built for the modern data cloud and the DevOps-first world, today announced $26 million in additional funding from existing investors, Redpoint, Costanoa Ventures and A.Capital and a strategic investment from Silicon Valley CISO Investments (SVCI). This brings the company’s total funding to $41.1 million. Since launching in the second quarter of 2020, Cyral has experienced tremendous customer momentum within the Fortune 1000, reached significant corporate milestones including doubling the team to nearly quadrupling its valuation and has been recognized as a “Best Places to Work in the Bay Area”.
Companies of all sizes are embracing data democratization to make data available everywhere, however very few companies have the resources to observe, control and protect every data endpoint in the cloud. This problem is growing exponentially as companies rely on remote and/or hybrid work environments and a non-employee workforce. Cyral provides a data security and governance product that DevOps teams love. Unlike competitive offerings, Cyral gives security and engineering teams a quick and simple way to evaluate cloud security risks and proactively protect company and customer data without disrupting existing DevOps workflows.
“Giving customers a single solution for data security and governance across all of their data services allows them to be more data-driven, agile and secure,” stated Manav Mital, founder and CEO of Cyral. “Cyral has been deployed in very complex environments where performance and scalability is critical. Our lightweight service has delighted them because not only do they have more control and improved automation, but they have seen no impact on performance. With this new investment, we can continue to drive product innovation and meet customer demand, while expanding our global footprint.”
“The thing that most security software is trying to secure is the underlying data. Manav and Srini took this foundational insight to create a novel way to create a control plane for enterprise data. It was obvious to us the minute we saw it that this is an essential tool to enable enterprises to simultaneously use and protect their critical data resources,” stated Greg Sands, managing partner, Costanoa Ventures.
With 20 patents pending, Cyral developed a unique stateless interception technology that can be easily implemented as security as code allowing for ease in implementation and in management across all data services. Once deployed, Cyral intercepts all activity across data repositories, applies granular access controls, and alerts and blocks any anomalous behavior – with zero impact on performance.
To learn more about today’s funding news, please read Manav’s blog, New Cyral Funding Validates Need for Cloud Data Security and Governance and to gain insights from Costanoa, please read Greg Sands and Casey Aylward’s blog, Security and Governance for the Data Cloud: Our Investment in Cyral.
Cyral delivers enterprise data security and governance across all data services such as S3, Snowflake, Kafka, MongoDB, Oracle and more. The cloud-native service is built on a stateless interception technology that monitors all data endpoint activity in real-time and enables unified visibility, identity federation and granular access controls. Cyral automates workflows and enables collaboration between DevOps and Security teams to automate assurance and prevent data leakage. Cyral is venture-backed by Redpoint, A.Capital, Costanoa and SVCI. Follow the company on Twitter at @CyralInc.
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