Sysdig Closes $70M in Series E Funding to Enable Enterprises to Confidently Secure Cloud-Native Workloads in ProductionJanuary 23, 2020
Sysdig announced it raised $70 million in Series E funding led by Insight Partners with participation from previous investors, Bain Capital Ventures and Accel. Glynn Capital also joined this round, along with Goldman Sachs, who joined after being a customer for two years. Sysdig’s total funding to date is $206 million. Sysdig will use the funds to extend market presence and leadership in enabling enterprises to confidently run cloud-native workloads in production. The Sysdig Platform addresses both DevOps security and IT operations spaces. IDC forecasts the worldwide DevOps software tools market will reach $15 billion in 2023.
“Containers and Kubernetes development is disrupting the way organizations deploy and run containers, but when you look at the history of major technological changes, Kubernetes is still early. We invest in high-growth companies that are disrupting the old way of doing things, companies that will lead this decade-long transition. Sysdig’s novel approach of providing a single source of truth for both security and monitoring for container-based applications has proven more effective, more scalable, and higher ROI,” said Richard Wells, Managing Director at Insight Partners.
“As a customer, we are impressed with Sysdig’s technology and the company’s open source approach to security. We look forward to Sysdig joining our investment portfolio and seeing their continued growth as a leading Kubernetes security vendor,” said Soumya Rajamani, Vice President of Merchant Banking at Goldman Sachs and Sysdig Board Observer.
International expansion is a key priority for the company and will be bolstered by this investment. Sysdig also announced today the launch of a Japanese subsidiary, Sysdig Japan GK.
Kubernetes is the de facto operating system of the cloud; however, as organizations move workloads into production, security and visibility are the biggest barriers. Traditional tools and processes leave enterprises blind because they do not provide visibility with application context for these environments. To reap the benefits of the agility that containers and Kubernetes provide, enterprises need an approach that integrates security and compliance into DevOps workflows. This approach is often referred to as secure DevOps or DevSecOps.
According to Gartner, “By 2021, DevSecOps practices will be embedded in 60% of rapid development teams, as opposed to 20% in 2019. By 2023, more than 70% of enterprise DevSecOps initiatives will have incorporated automated security vulnerability and configuration scanning for open-source components and commercial packages, which is a significant increase from fewer than 30% in 2019.”2
To date, Sysdig is the only security company to support a secure DevOps approach by integrating monitoring and security into a single platform. Cloud teams can embed security, maximize availability, and ensure compliance. By integrating security into the DevOps process, teams can realize the business goals in their transition to cloud native. Open by design, Sysdig provides the scale, performance, and usability enterprises demand. Sysdig customers include: Goldman Sachs, Steelcase, and Worldpay from FIS.
“Containers and Kubernetes will take over the world. Over the last year, we have seen competitors partner in an attempt to deliver capabilities similar to ours, but the reality is, these approaches cannot provide the level of visibility and security that we can, even when they use multiple tools. As Kubernetes adoption increases, CISOs will continue to recognize that their IT teams and security tools need to adapt. In 2020, we look forward to partnering with more Global 2000 organizations in their cloud-native journeys,” said Suresh Vasudevan, Chief Executive Officer at Sysdig.