{"id":24591,"date":"2021-05-30T05:54:03","date_gmt":"2021-05-30T05:54:03","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/uptycs-secures-50m-series-c-as-security-platform-continues-to-expand.html"},"modified":"2021-05-30T05:54:03","modified_gmt":"2021-05-30T05:54:03","slug":"uptycs-secures-50m-series-c-as-security-platform-continues-to-expand","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/uptycs-secures-50m-series-c-as-security-platform-continues-to-expand.html","title":{"rendered":"Uptycs secures $50M Series C as security platform continues to expand"},"content":{"rendered":"

Uptycs<\/a>, a Boston-area startup that uses data to help understand and prevent security attacks, announced a $50 million Series C today, 11 months after announcing a $30 million Series B<\/a>. Norwest Venture Partners led the round with participation from Sapphire Ventures and ServiceNow Ventures.<\/p>\n

Company co-founder and CEO Ganesh Pai says that he was still well capitalized from last year\u2019s investment, and wasn\u2019t actually looking to raise funds, but the investors came looking for him and he saw a way to speed up some aspects of the company\u2019s roadmap.<\/p>\n

\u201cIt was one of those things where the round came in primarily as a function of execution and success to date, and we decided to capitalize on that because we know the partners and raised the capital so that we could use it meaningfully for a couple of different things, primarily sales and marketing acceleration,\u201d Pai said.<\/p>\n

He said that part of the reason for the company\u2019s success over the last year was that the pandemic generated more customer interest as people moved to work from home, the SolarWinds hack happened and companies were moving to the cloud faster. \u201cWe provided a solution which was telemetric powered and very insightful when it came to solving their security problems and that\u2019s what led to triple digit growth over the last year,\u201d he said.<\/p>\n

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2020 was a disaster, but the pandemic put security in the spotlight<\/a><\/p>\n<\/blockquote>\n

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But Pai says that the company has not been sitting still in terms of the platform. While last year, he described it primarily as a forensic security data solution, helping customers figure out what happened after a security issue has happened, he says that the company has begun expanding on that vision to include all four main areas of security, including being proactive, reactive, predictive and protective.<\/p>\n

The company started primarily in being reactive by figuring what happened in the past, but has begun to expand into these other areas over the last year, and the plan is to continue to build out that functionality.<\/p>\n

\u201cIn the context of SolarWinds<\/a>, what everyone is trying to figure out is how soon into the supply chain can you figure out what could be potentially wrong by looking at indications of behavior or indications of compromise, and our ability to ingest telemetry from a diverse set of sources, not as a bolt-on solution, but something which is built from the ground up, resonated really well,\u201d Pai explained.<\/p>\n

The company had 65 employees when we spoke last year for the Series B. Today, Pai says that number is approaching 140 and he is adding new people every week, with a goal to get to around 200 people by the end of the year. He says as the company grows, he keeps diversity top of mind.<\/p>\n

\u201cAs we grow and as we raise capital diversity has been something which has been a high priority and very critical for us,\u201d he said. In fact, he reports that more than 50% of his employees come from under-represented groups whether it\u2019s Latinx, Black or Asian heritage.<\/p>\n

Pai says that one of the reasons he has been able to build a diverse workforce is his commitment to a remote workplace, which means he can hire from anywhere, something he will continue to do even after the pandemic ends.<\/p>\n

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Uptycs lands $30M Series B to keep building security analytics platform<\/a><\/p>\n<\/blockquote>\n

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\u00a0<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/wNygNMHHpek\/<\/p>","protected":false},"excerpt":{"rendered":"

Uptycs, a Boston-area startup that uses data to help understand and prevent security attacks, announced a $50 million Series C today, 11 months after announcing a $30 million Series B. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-24591","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t