JupiterOne, a cybersecurity management automation startup whose clients include Reddit, Databricks, and Auth0, today closed a $ 19 million financing round led by Brain Capital Ventures. Erkang Zheng, Co-Founder and CEO, says the proceeds will be used to strengthen JupiterOne’s research and development and go-to-market efforts.
Cybersecurity asset management or the process of creating and continuously updating an inventory of IT resources can represent resource consumption. According to a 2019 Deloitte survey, executives spend 13% of their time overseeing cyber-surveillance and operational challenges. Even so, relatively few companies are proactive about asset management, possibly due to logistical challenges. Gartner estimates that only 35% of companies design, document, and regularly test assets using inventory tools and software.
JupiterOne claims to make security teams more efficient by centralizing the data of dozens of cloud services and services in a single hub for management, analysis and alerting. Read-only data is automatically retrieved through the platform̵
JupiterOne’s algorithms automatically retrieve entities in environments, classify them, and map them to tools such as the compliance dashboard. JupiterOne’s compliance dashboard provides users with an overview of the key controls and guidelines that make up their company’s security framework. You can address specific requirements as needed, or use JupiterOne’s Policy Builder to review, update, and visualize asset relationships and create a range of procedures from templates that cover 24 key security policy domains.
The JupiterOne Insights app allows users to create custom report dashboards and visualizations with searches and queries for accidental self-reviews, suspicious code commits, pull requests, code repos, and more. Each dashboard can be configured as a shared team board or as a personal board. The layout of each board is saved individually for each user, so users can customize layouts according to their needs without affecting other users.
On the alarm side, there is JupiterOne’s rule field, which uses a knowledge diagram, for example, to take into account a user’s permissions to resources and determine whether multifactor authentication has been activated before a new alert is triggered. JupiterOne has a library of preconfigured rules and smart rules that can run every 15 minutes to 24 hours to ensure that security teams take remedial action when a new high severity alert occurs.
JupiterOne was founded as a subsidiary of LifeOmic, an Indianapolis, Indiana-based healthcare software company. Erkang served as LifeOmic’s Chief Information Security Officer and initially built JupiterOne to meet LifeOmic’s security and compliance requirements. Zheng said LifeOmic produced the solution as JupiterOne and spun the company out in March 2018 to pursue a cybersecurity asset management segment that is estimated to spend $ 8.5 billion by 2024.
“JupiterOne currently employs 20 people and expects that number to triple by the end of 2021. We are in a period of high growth and will focus on developing the best engineering and bringing the talent available today to market.” Zheng told VentureBeat via email.
Rain Capital, LifeOmic and individual investors also participated in the venture financing round.