- Cyberhaven announced that it raised $13 million in Series A funding co-led by Vertex Ventures and Costanoa Ventures
Cyberhaven announced it has raised $13 million in Series A funding. And the company also announced that it launched the industry’s first Data Behavior Analytics (DaBA) solution. This round of funding was co-led by Vertex Ventures and Costanoa Ventures with participation from Crane Venture Partners and elite angel investors, including Facebook’s former Chief Security Officer Alex Stamos, Veritas’ co-founder and Facebook’s former VP of infrastructure engineering Jeff Rothschild, and Cloud Access Security Broker (CASB) market pioneer Kamal Shah. In conjunction with this round of funding, Vertex Ventures general partner In Sik Rhee will be joining the board.
“A recurring theme we’ve heard from hundreds of CISOs is that when a data incident occurs, it takes too much manual work to understand what happened with the data — and this wasted time turns small incidents into costly data breaches,” said Cyberhaven co-founder and CEO Volodymyr (Vova) Kuznetsov. “With Cyberhaven, analysts no longer have to manually reconstruct data flows from bits and pieces of evidence in multiple tools to discern the root cause of a breach. Instead, Cyberhaven enables companies to detect and contain data loss, theft or misuse at machine speed.”
Cyberhaven is known for providing complete visibility into the behavior and movement of corporate trade secrets such as Intellectual Property (IP) and client data across cloud and on-premise environments. And by observing and analyzing data’s behavior instead of relying on policies to control its flow, Cyberhaven enables security teams to instantly understand the root cause of data loss thus reducing the time it takes to address incidents from weeks to minutes.
“Protecting corporate data is one of the biggest unsolved problems in enterprise security today – Cyberhaven’s approach provides significant new capabilities to limit and identify data leakage while being simple for enterprises to manage,” added Jeff Rothschild. “Its Data Tracing technology is an important innovation that dramatically improves an organization’s ability to contain breaches and data loss. I’m proud of what Cyberhaven has accomplished and look forward to supporting its success.”
As the rapid adoption of SaaS applications has led to corporate trade secrets being stored and shared across a growing number of platforms, it has created a breeding ground for insider threats and other forms of data loss, exfiltration, or misuse. And IP theft, for example, costs the U.S. economy as much as $600 billion annually. Data breaches occur with increased frequency and regulations such as GDPR require companies to be more accountable so companies need full visibility into the behavior and flow of data everywhere it goes.
Cyberhaven’s approach — which is called Data Behavior Analytics (DaBA) — provides the needed level of visibility. And unlike other solutions that use policies to control the flow of data, DaBA analyzes and records the flow of data across all corporate assets, including SaaS and homegrown applications. After a data incident is suspected, security teams can instantly trace the path of exfiltrated data before and during the incident to immediately understand where the data went, who accessed it, and when they accessed it.
And unlike Data Loss Prevention (DLP) and CASB tools, Cyberhaven does not require any changes to company’s data, applications, cloud services or other IT infrastructure, or require a major policy creation or data classification effort to deploy.
Cyberhaven was co-founded by a team of 5 security researchers. Each of them hold PhDs in Computer Systems and Security and have held research positions at Stanford, MIT, EPFL and UC Berkeley. And its core technology is protected by four patents and is based on research that in 2016 was awarded more than $1 million in grants from DARPA and the Swiss Federal Government.
