Lacework raises $525M to accelerate the strategies that drove to revenue growth in 2020

2021-01-11 00:30

The investment round will be used to accelerate the strategies that drove Lacework's 300%+ revenue growth in 2020, expand its go-to-market and partner ecosystem operations, and grow its engineering and R&D teams across the US and Europe.

With the worldwide adoption of public cloud infrastructure as a service forecasted to grow from $51 Billion in 2020 to $82 Billion in 2022, comes a heightened demand for cloud security and compliance.

Lacework was built to see and understand cloud changes at scale without requiring manual interventions by security teams every time a new cloud service or technology is adopted.

Lacework is built on Snowflake, and its Polygraph security architecture understands and detects threats in cloud applications and infrastructure by applying automation and machine learning to tackle the massive scale of security data processing required to record and analyze constant changes in the cloud.

As a result, Lacework customers are able to reduce false positives by up to 98% and investigation time by over 90%. With functionality that reaches across the Cloud Security Posture and Cloud Protection Platform markets, 80% of new Lacework customers replaced two or more point products in 2020.

Dan Hubbard, CEO, Lacework: "Building on cloud is the biggest shift the IT industry has ever witnessed. Constant cloud changes require a new approach to security critical for our customers adapting and scaling as fast as clouds innovate. This round will allow us to extend our product differentiation leadership, which is critical in a transformative market driven by both fast-moving builders and sophisticated attackers."

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