The trend towards cloud computing is being accelerated due to the pandemic, has not slowed down. Gartner estimates that 95% of all new digital applications will be based on cloud-based platforms, a jump from 30 percent in 2021. The main reason is convenience cloud-based platforms can be accessed from any location which is ideal for employees who are remote, or. But there are no rainbows and sun. Cloud computing also increases the risk of data breaches.
There’s a lot of anxiety. According to an earlier Statista survey data leakage and loss in the cloud are among the biggest concerns with regard to their technology stack. Furthermore, nearly 93% of companies are concerned about human error leading to the accidental release of their private cloud data.
One startup trying to solve the cloud’s security concerns is Sentra which identifies data stored in cloud storage and classifies it according to the degree of sensitivity and offers solutions for remediation for security teams. To demonstrate the passion in cloud security Sentra has today completed a 30 million Series A round, led by Standard Investments with participation from Munich Re Ventures, Moore Strategic Ventures, Xerox Ventures, INT3, Bessemer Venture Partners, and Zeev Ventures — bringing the total amount reached to $53million.
Co-founder and CEO Yoav Regev says the cash will be used for the development of new products and expanding the company’s reach out of the U.S., where it’s headquartered.
“The promise of flexibility makes cloud computing an exciting technological advance of recent times. However, this flexibility implies that businesses can be able to lose control and access to their most sensitive data,” Regev told TechCrunch in an interview via email. “Our solution addresses this issue by ensuring that businesses prioritize the security of this sensitive information, while also keeping up with the demands of business and the speed of data stored in cloud computing.”
After connecting to an organization’s cloud-based environments, Sentra’s software will attempt to locate any sensitive data that includes personally identifiable information as well as passwords — and determine who is able to access it and how it’s utilized. Utilizing algorithms and context-specific data such as metadata and access patterns, Sentra automatically detects when data has been duplicated, changed, or transferred across networks or across regions, and then initiates remediation actions in the event of need.
Security teams are provided with access graphs that reveal who is able to access which information and exactly how access is granted.
As a default setting, Sentra is also attempting to label data assets that contain private information, such as customer information, HR data, and intellectual property. When it discovers assets that have poor security (e.g. configuration errors and compliance violations), Sentra can optionally send out alerts or use built-in security policies for data.
“When an organization isn’t aware of the location where sensitive data is stored and whether it is protected It is possible to imagine any situation in which the system has been compromised. Therefore they attempt to secure every data source but without focusing on the importance of each data item,” Regev said. “In short, there is no reason that every data breach needs to be a show-stopper for the company. Being aware of and protecting your most sensitive data at all times can ensure that your business is protected in the event of a breach.”
Sentra — founded by Regev, Asaf Kochan, Ron Reiter, and Yair Cohen who were all ex-members of the Israel Defense Forces’ elite intelligence division — mostly is a cloud-native company that targets medium-sized to large-sized companies with a lot of data, which can range from the thousands of petabytes. Regev did not specify how many customers the company currently serves or the number of volunteer revenues. He did, however, say that Sentra intends to increase the workforce to 40 people by “a few dozen” before the end of the year. which suggests some hope for expansion.
Sentra’s biggest challenge is competing with startups offering an identical array of services. Securiti is like Sentra offers security for data regardless of where the data is located with regard to access control and governance. Additionally, there’s Dig which has just raised $37m to fund its cloud platform, which analyzes cloud data and then offers real-time monitoring. It also has Laminar which is a monitoring tool that detects leaks of data within the cloud and then tries to repair them.
But Regev isn’t worried. At the very least, not yet.
“Since the beginning of our existence, we have emphasized efficiency in our operations and remain focused on expanding in a sustainable, systematic manner that allows us to satisfy the requirements of our existing customers and also our future customers,” Regev said. “Meanwhile the ever-accelerating transition of data centers to the cloud implies that solutions such as ours will remain popular regardless of a recession or a slowdown in technology. Even during times like this, the protection of organizational data remains a top concern for the business owners and their clients.”