Israel’s Dig Security Raises $34M in Series A Funding

Dig Security, an Israeli start-up, received a $34 million Series A investment from San-Franciscan venture capital firm SignalFire. With this funding, the company plans to make cloud storage and networking more secure with its comprehensive threat model to defend against data attacks and focus on developing cloud data security solutions.

With the latest investment by SignalFire and previous funding from Felicis Ventures, Okta Ventures, and existing investor Team8, the company has raised a total of $45 million.

Solutions offered by Dig Security

Dig Security offers real-time detection and response to cyber-attacks to reduce damage in the kill chain, which helps detect and identify the attack’s structure and increases the chances of curbing data exfiltration early on.

A skilled attacker can breach cloud data within 3 minutes. As per reports, the existing solutions scan the environments every 24 hours, leaving the systems open to about 480 cyber-attacks.

The focus of Dig Security as of now is on data stored in public than private clouds as it works with the providers namely Azure, AWS, Google Cloud and those into data warehousing like Snowflake and Databricks. This investment will help the start-up accelerate its go-to-market effort to secure a place among customers amid competition.

According to reports, cloud storage may get a new lease of life with the increased average mean-time-to-detection (MTTD) of less than a minute that Dig Security will offer. The company provides solutions to detect, analyze and respond to cloud data threats within a minute. Its solutions are compatible with cloud infrastructures like AWS, Azure and GCP and data clouds like Databricks and Snowflakes.

The current condition of cloud infrastructure

Several cloud-based data breaches have been recorded in the first quarter of this year. The 2022 Thales Cloud Security Report found that there has been a 26% increase in malware attacks, 25% in ransomware and 19% in phishing.

As per an IBM Security and Ponemon Institute report, over 50% of all data breaches were on cloud platforms. This increases the need for evolved technology to prevent cyber-attacks.