- The Series C round of funding is in line with the company’s record year of growth in terms of revenue, customers, and employees.
- The JupiterOne platform unifies continuous cyber asset data for security operations and engineering, cloud security, configuration management, and compliance use cases.
JupiterOne, one of the leading cyber asset attack surface management (CAASM) platform providers, announced that it had raised USD70 million in a Series C round of funding, thus bringing the company’s total to more than USD119 million and its estimated valuation to over USD1 billion.
The current round of funding was led by Tribe Capital with new investors, including Intel Capital and Alpha Square Group, and existing investors, including Sapphire, Bain Capital Ventures, Cisco Investments, and Splunk Ventures, pitching in.
JupiterOne’s CAASM platform offers a solution that makes it convenient for enterprises to map, analyze, and secure cyber assets that remain exposed to external attacks, including devices, networks, applications, data, and user identities, both on-premises and in the cloud.
It is the foundation for security programs, offering users an unmatchable security context and providing deeper visibility of the entire cyber asset landscape to help them prioritize security risks and protect their business. The JupiterOne platform unifies continuous cyber asset data for security operations and engineering, cloud security, configuration management, and compliance use cases.
JupiterOne’s solution follows the graph data model to hierarchize data and relationships between infrastructure to provide greater contextual awareness to the security teams about the actual risk so that they can understand their assets from the point of view of an attacker.
The firm will use the funds to expand go-to-market capabilities, enhance engineering investments, and fuel product development to fulfil market needs across attack surface management, including unified asset inventory, vulnerability management, and security posture automation.
Furthermore, the funds will be used to grow the company’s reach of extensive partnership and integration teams, thus building on the CAASM platform’s capabilities. It will also give a. boost to its direct and channel sales efforts for enterprise customers while growing self-service capacity for small and midsize businesses.
Funding Follows Record Growth and Enterprise Customer Adoption
The Series C round of funding is in line with the company’s record year of growth in terms of revenue, customers, and employees. JupiterOne plans to continue with this pace and surpass historical revenue growth, drive employee growth at its headquarters in the RDU Triangle region, and actively support a remote-first work environment.
Erkang Zheng, Founder, and CEO at JupiterOne, said, “Security is a data problem that needs an engineering approach and a true platform for consolidation. Our Series C funding underscores the unique value that the JupiterOne platform provides to our customers to help them unify and coordinate existing security investments, automate cloud security postures, and reduce their cyber risk and security program costs. We provide our customers with valuable security context and true visibility of their organization’s cyber asset landscape using data and automation, to help them prioritize risks and protect their business.”
Anders Ranum, Partner at Sapphire and Board Director at JupiterOne, said, “Cybercrime continues to be a top issue for the majority of companies across industries and geographies. Since leading JupiterOne’s Series B last May, our conviction has been further validated by both the market demand for asset management and the company’s performance as evidenced by the great growth and new customer logos experienced over the past year. We are thrilled to continue to back founder and CEO, Erkang Zheng and the JupiterOne team, and are excited to be part of the company’s growth journey ahead.”