Startup Company Orca Security Lands $210 Million to Expand Its Presence in the Cybersecurity Industry

By McKenzie Carpenter Tuesday, March 23, 2021

Keeping information secure has become extremely important for companies that conduct much of their operations online. In addition, cybersecurity businesses can provide the tools to protect companies from possible data breaches. Orca Security, a cybersecurity startup company, announced today it raised $210 million.

Cybersecurity concept.

About Orca Security

Orca Security is an Israeli cybersecurity startup company that provides agent-less cloud security and compliance services for their infrastructure as a service, or IaaS assets in Amazon Web Services (AWS), Microsoft Azure, and Google Cloud.

Founded in 2017 by Gil Geron and Avi Shua, the cybersecurity business has found success in its patent-pending SideScanning technology that automatically detects vulnerabilities, malware, misconfiguration, and authentication risks in a customer’s cloud. Additionally, Orca Security is used by a variety of organizations such as Fiverr, Lemonade, Robinhood, Live Oak Bank, and Cake, among others.

In 2020, the business experienced more than a 1,000% year-over-year growth (YOY) and has quite the record for successful funding rounds. In its initial seed round, the business raised $6.5 million and went on to raise $21 million in May 2020 and $55 million in December 2020. To date, the startup company has raised nearly $300 million, with the most recent funding round as the largest one yet for Orca Security.

Today, Orca Security announced it raised $210 million in a Series C funding round led by Alphabet’s independent growth fund, Capital AG, and Redpoint Ventures.

Startup Reaches Unicorn Status

As a result of the recent massive funding round completed by the cybersecurity startup company, Orca Security has gained unicorn status with a $1.2 billion valuation.

Avi Shua, CEO and co-founder of the startup company, said, “By creating a security solution that actually works, we are solving a fundamental problem that has been broken since the inception of cloud security...In the face of increasing threats and rapidly expanding cloud estates, organizations can’t be burdened with installing and maintaining agents and sidecars. We enable our customers to instantly protect their cloud environments, eliminate attack paths, fuel digital transformation, and meet compliance mandates.”

With the new funding, the cybersecurity business plans to expand its global partner program. Additionally, the startup company will continue R&D and sales efforts with hopes of tripling them since May 2020. These plans have the overall goal of increasing the presence of the business in the cloud cybersecurity industry.

Scott Raney, a general partner at Redpoint Ventures, said, “Orca Security has set the new standard for cloud security by defining the approach every organization should take to secure its cloud environment...Avi and his team are solving one of the most critical challenges organizations face, to achieve a holistic view of their cloud environments…”

The Cybersecurity Industry

In the age of technology, it comes as no surprise more cybersecurity companies are popping up. Earlier this month, Startup Savant reported that cybersecurity startup company SPHERE had raised $10 million in investor funding.

Forbes reported the global cybersecurity industry was worth $173 billion in 2020 and was expected to reach $270 billion by 2026.

About the Author

Headshot of McKenzie Carpenter

McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.

Related Articles