Cloud infrastructure security startup Ermetic has closed a $70 million Series B round of financing led by Qumra Capital with support from new investor Forgepoint Capital and participation from existing investors Accel, Glilot Capital Partners, Norwest Venture Partners and Target Global, the company announced Wednesday.
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Ermetic provides a comprehensive platform that detects and prevents security threats within complex AWS, Google Cloud and Microsoft Azure environments. Since its last round of financing, the company has quadrupled in size to more than 100 employees, increased its number of customers by 800% and now protects millions of resources.
The company has now raised $100 million in funding for its security platform, which provides holistic multi-cloud protection for global enterprise customers.
Ermetic will use the funds to scale sales and marketing operations in the US, Europe, the Middle East and Africa, and Asia Pacific, as well as grow its engineering team.
"Most organizations have to stitch together disparate security tools that are siloed and provide a limited view of cloud risk, but Ermetic has combined cloud infrastructure entitlement and cloud security posture management to provide the visibility and automation customers need to protect all their cloud platforms in one place," said Shai Morag, CEO of Ermetic. "This has created a much larger addressable market for our products. Our new funding will enable us to grow aggressively and capture a large share of this business globally."
