Press
01.10.2022
Cloud security innovator drove 300% revenue growth in 2021 with the unique combination of CSPM, CIEM and data classification capabilities provided by its Sonrai Dig platform
NEW YORK — January 10, 2022 — Sonrai Security, an established leader in enterprise cloud security, today announced that it significantly accelerated its business in 2021 with more than 300 percent revenue growth year-over-year, a doubling of its enterprise customer base, a $50 million Series C funding round, and a number of large enterprise client deployments.
“In 2021, many large enterprises, including several of the top financial services firms, selected Sonrai Security to automatically find and eliminate identity, data and platform security risks across their AWS, Azure and GCP infrastructure,” said Brendan Hannigan, CEO and co-founder of Sonrai Security. “Comprehensive cloud security requires a foundation of cloud identity security which Sonrai Dig uniquely delivers for these customers.”
Powered by a cloud identity graph, Sonrai Dig combines Cloud Security Posture Management (CSPM), Cloud Infrastructure Entitlements Management (CIEM), and data security in one platform. This enables companies to enforce compliance, achieve and maintain least privilege, enforce separation of duties, and lockdown critical data: all ways to minimize exposure to threats in the cloud. Best practices, workflow, advisors, and automation supports cross-team cloud security operations.
Key milestones achieved by Sonrai in 2021 include:
- Tripled company revenue: The cloud security company delivered robust revenue growth with broad-based strength across multiple areas of the business leading to revenue growth of more than 300% year-over-year.
- Expanded large enterprise client base: Customer growth more than doubled, including multiple Top 10 North American banks, Top 5 North American aviation organizations, and multiple Fortune 100 enterprises and mid-sized enterprises across the healthcare, cloud-native technology, and retail industries. In addition to adding a record number of net new customers, Sonrai Security reported 100% customer retention.
- Employee expansion: The company increased employee headcount in North America and EMEA by 160%.
- Leading industry analyst recognition: Sonrai Security was recognized as a 2021 Gartner Cool Vendor in CSPM.
- Multiple industry awards: Sonrai Security was awarded the InfoSec Next-Gen in Cloud Security and Next-Gen in Identity Management awards from Cyber Defense Magazine (CDM), a Silver Stevie Award for Healthcare Technology Solutions and the TMC Cloud Computing Product of the Year Award.
- New funding: Sonrai Security secured $50 million in Series C funding in a round led by ISTARI with participation from founding investor Polaris Partners, Series A lead Ten Eleven Ventures and Series B investor Menlo Ventures. The new funding brings Sonrai’s total raised to date to $89 million with $70 million raised in the past 12 months.
- Strategic technology partnerships: Sonrai Security joined the Microsoft Intelligent Security Association (MISA) and became a preferred solution on the Microsoft Azure Marketplace. Other notable technology integrations include AWS Control Tower and Azure Sentinel.
About Sonrai Security
Sonrai Security delivers enterprise cloud security for the public cloud. Powered by our cloud identity graph, Sonrai combines CSPM, CIEM, and data security in one platform. Best practices, workflow, advisors, and automation supports amazing cross-team cloud security operations. Our mission is to allow companies to understand, monitor, and enforce security across public cloud infrastructures. Sonrai Security has offices in New York and New Brunswick, Canada and is backed by ISTARI, Menlo Ventures, Polaris Partners, and TenEleven Ventures. For more information, visit https://sonraibackup.wpengine.com.
