The worldwide annual value of cyber crime is estimated to be $6 trillion per yr, or 1% of the World GDP. On the similar time, cloud computing is quickly changing into the dominant mannequin utilized by enterprise each to develop new providers and to host information and purposes. Cloud computing dominates, however safety is a problem.
“As organizations proceed to extend their reliance on the cloud to centralize their operations, cloud safety options are seeing great development and adoption,” Erkang Zheng, founder and CEO of JupiterOne, stated.
“As well as, the necessity to strengthen defenses — prematurely of macroeconomic adjustments that would end in a rise in financially-motivated assaults — boosts the demand for cybersecurity software program, particularly for cloud environments that hackers could discover extra handy to penetrate.”
That is how Zheng justifies JupiterOne’s estimated valuation of over $1 billion, which comes after right this moment’s announcement of a $70 million Collection C funding spherical. Though unicorns should not what they was once, with the cybersecurity area alone itemizing over 50 of them, this market presents loads of room.
The cybersecurity market was valued at $217.87 billion in 2021, and it is projected to develop from $240.27 billion in 2022 to $345.38 billion by 2026, exhibiting a CAGR of 9.5% throughout the years 2022-2026 in line with Markets and Markets. In keeping with Gartner, cloud safety is the quickest rising section of the safety market, with spending leaping from $595 million within the US in 2020 to $841 million final yr.
The necessity for JupiterOne is there. What’s value trying into is how the corporate defines and approaches its mission.
A graph-powered cybersecurity platform
Zheng touts JupiterOne as “the primary cloud-native cyber asset assault floor administration (CAASM) platform constructed on a graph information mannequin… uniquely positioned to steer this rising market.”
The corporate guarantees to assist shoppers simply establish, map, analyze, and safe cyber property. Its record of shoppers contains cloud-native enterprises like Cisco, Databricks, Certainly, and Robinhood.
Step one to doing that is to connect with as many programs as doable. As Zheng shared, JupiterOne presently helps over 180 integrations out of the field, with new integrations launched regularly. Some examples embody cloud suppliers, vulnerability scanners, authentication and authorization programs, and identification administration instruments.
JupiterOne connects to all of a company’s infrastructure, cloud, and safety tooling and programs with the intention to acquire, combine, and mannequin all of its cyber asset information. It is an agentless know-how that makes use of API-based connectivity to gather the info, Zheng stated.
The corporate has been creating the breadth and depth of its integrations for over 4 years. In the present day, JupiterOne presents open supply options — akin to Starbase — that help its integrations. It additionally permits third events to create their very own integrations through JupiterOne’s public integrations examples and SDK.
JupiterOne’s CAASM platform is constructed on a graph information mannequin to reveal the intricate relationships between cyber property, one thing which Zheng recognized as key to the platform’s operation:
“Visibility is of little worth with out context. The flexibility to attract connections between your cyber property enriches your safety investigations with a whole understanding of the incident, so you possibly can assess its impression, see what was affected, and optimize your incident response workflows.
“It additionally lets you achieve structural context about your enterprise to know not simply what is happening, however the place. We use a graph-based back-end system to mannequin the nodes (property) and connections (relationships) with the intention to present good and actionable insights and evaluation of your setting.”
Certainly, cybersecurity is likely one of the domains through which graph shines. It comes down to 2 issues: the flexibleness of the info mannequin, which permits integration of information from disparate sources, and the effectivity of the queries, which permits exploration of complicated paths and relationships.
Starbase, JupiterOne’s open supply framework aiming to “democratize graph-based safety evaluation,” collects property and relationships from providers and programs together with cloud infrastructure, SaaS purposes, safety controls, and extra right into a graph view backed by Neo4j.
JupiterOne’s core product encompasses a custom-built question language (J1QL), prebuilt queries, and a pure language-based search to reply any query.
Elaborating on how cyber asset information is monitored and up to date to serve totally different use circumstances and necessities, Zheng stated, “JupiterOne helps over 500 ‘out of the field’ English-language questions that customers can ask of their environments with a single click on. If these questions do not remedy your considerations, you should utilize our visible question builder or our direct search question language to ask any query of your selection.”
Zheng added, “Ask any query and get any reply. Questions may be was constantly monitored queries which can be related to alerts, and all information is offered through customizable dashboards”.
One platform, many use circumstances, sturdy development
Apart from CAASM, JupiterOne addresses cloud safety posture administration; safety operations and engineering; and governance and compliance. However how can one thing like GDPR compliance for information generated through software X and saved in cloud supplier Y be assessed and monitored?
As Zheng defined, the entire cyber asset information from software X and cloud supplier Y are normalized and saved inside the JupiterOne graph system. This enables customers to ask questions of that information in extraordinarily complicated methods.
“Compliance comes from realizing what inquiries to ask after which asking them with the suitable frequency to search out dangers. As soon as you discover the dangers, you repair them, thus growing your safety alongside your compliance degree,” Zheng stated.
What in regards to the monitoring vulnerabilities state of affairs? For instance, how can one thing just like the potential impression of Log4j to a shopper’s purposes be assessed and corrective motion be recommended?
First, JupiterOne connects to software scanning options to find out the place a code vulnerability, akin to Log4j, would exist in a consumer’s setting. From there, customers can ask complicated questions like: Who wrote the code that comprises the problem? What’s their safety coaching degree? Is that this code operating in manufacturing? Whether it is operating in manufacturing, who’s the appliance proprietor?
“JupiterOne connects vulnerabilities to the context surrounding them in your setting that will help you resolve points and remediate them quicker than ever earlier than,” Zheng stated.
JupiterOne’s $70 million Collection C funding spherical brings the corporate’s whole raised to greater than $119 million and its estimated valuation to over $1 billion. The spherical was led by Tribe Capital with participation from new buyers, together with Intel Capital and Alpha Sq. Group, and present buyers, together with Sapphire, Bain Capital Ventures, Cisco Investments, and Splunk Ventures.
Commenting on the corporate’s valuation, Zheng stated that monetary metrics and development yr over yr have been sturdy. He added that the subscription mannequin promotes buyer retention and renewal, which helps undertaking continued development for years to return.
The funds can be used to develop go-to-market capabilities, broaden engineering investments, and enhance product growth. That is all to deal with market wants throughout assault floor administration, together with unified asset stock, vulnerability administration, and safety posture automation.
Moreover, the funds can be used to increase the attain of the corporate’s in depth partnership and integration groups, additional increasing the capabilities of the CAASM platform. JupiterOne will look to scale the corporate’s direct and channel gross sales efforts for enterprise clients whereas increasing self-service capability for small and midsize companies.