- Rapidly growing cloud security platform Lacework announced it raised $42 million in funding from Sutter Hill Ventures and Liberty Global Ventures
Lacework — a rapidly growing cloud security platform for enterprise innovation — recently announced that it raised $42 million in funding from Sutter Hill Ventures and Liberty Global Ventures. And the company also revealed that it made some key leadership changes to help the company capitalize on its current momentum in delivering DevOps and workload security for cloud, container, and hybrid environments.
“We believe cloud infrastructure is a fundamental part of the digital revolution – and so securing it is very critical. Lacework has the best cloud security product and also a world-class team to deliver on this promise. We look forward to working closely with them,” explained Ankur Prakash, a Partner at Liberty Global Ventures.
Lacework also named Andy Byron as President to handle all go-to-market functions. And the company also added two new board members including Sutter Hill Ventures partner Mike Speiser and cloud industry veteran John McMahon.
Byron is joining Lacework to acquire new customers and brand the company as a leader in the cloud and container security market. And he brings a track record of go-to-market success with innovative, fast growth startup companies. Before Lacework, Byron led sales and marketing as Chief Revenue Officer at Cybereason — which is a $100 million endpoint security company. And before that, Byron was President and Chief Operating Officer at Fuze.
“This is a unique opportunity, and I’m honored to have the chance to be part of Lacework and its new generation security platform,” commented Byron. “We are building a first-class sales and marketing team to bring our message of cloud and container security, from DevOps to runtime, to buyers who are hungry for a complete platform solution. Customers clearly don’t want to be stuck with last generation vendors who are attempting to cobble together a variety of solutions. Lacework is delivering the right solution for these customers who want to move fast, be agile, and still be secure.”
By adding forward-thinking customers such as HashiCorp, Iterable, and AdRoll, Lacework has been making significant progress in helping major brands get visibility and understanding into the vulnerabilities from DevOps to workload run-time operations. And the new round of funding and leadership changes will support product innovation and go-to-market activities to help educate security, compliance, and DevOps teams that want a way to embed security continuously through build-time to run-time operations.
“Our new funding, new perspectives on the board of directors, and with Andy joining, are all going to be critical for how we build on our solid foundation as a cloud and container security leader,” added Dan Hubbard, the CEO of Lacework. “Lacework and our growing list of customers agree that there is a need for a new generation of security companies that are purpose-fit to secure today’s modern infrastructure.”
By adding Speiser and McMahon to the Lacework board, it signals a recommitment by investors and the recognition among cloud leaders that the company is positioned to rapidly accelerate its market growth.
Speiser was founding CEO of data warehousing and analytics company Snowflake. And both Speiser and McMahon currently sit on the board of directors of Snowflake. They both have significant experience driving fast-growing companies like Pure Storage, MongoDB, and several others to multi-billion dollar valuations.
“The security market is crowded with point solutions and legacy vendors trying to become relevant for containers and the cloud,” noted Speiser. “It’s clear that DevOps and security teams want a single platform for their security and compliance needs, and only Lacework provides that. The company is doing all the right things and is on track to become the Snowflake for security.”
