DoControl raises $30M to automate SaaS security

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DoControl, which today announced the raising of a $30 million Series B round, said the funding will go towards accelerating the market expansion of its software-as-a-service (SaaS) automated security platform, which is already used by clients including cybersecurity companies like CrowdStrike, Devo and Armis.

The platform stands out with capabilities such as automated workflows that “can be triggered by any SaaS event, making our solution the most granular in the SaaS security industry,” said Adam Gavish, co-founder and CEO. of DoControl, in an email to VentureBeat.

According to a recent Productiv report, the average business now uses 254 SaaS apps, and businesses are even higher, with 364 SaaS apps in use on average. But while many businesses are increasingly relying on SaaS to share data, “the problem is that these shared files typically stay shared and accessible forever, exposing your business to multiple security threats and increasing the likelihood of data loss with time,” Gavish said.

DoControl’s platform, which went into general availability in August 2021, addresses the problem with automation, he said. The platform provides the ability to trigger automated workflows to revoke data access over time, across different internal groups and external collaborators; quickly remediate data exposure “with a few clicks”; and conduct security investigations using the SaaS metadata inventory, according to Gavish.

Along with the ability to trigger workflows with any SaaS event, workflows can also be conditioned “based on any of the event’s metadata, so you can narrow down the scope to solve any business use case,” said.

Meanwhile, DoControl performs PII classification “on the fly,” as part of an automated workflow, “so that PII findings are associated with clear business context to avoid alert fatigue.” Gavish said.

The DoControl platform currently integrates with Microsoft SaaS applications (Teams, SharePoint, and OneDrive), as well as Google Drive, Salesforce, Slack, Dropbox, Box, Okta, and GitHub.

Among the startup’s goals for the new funding is to add integrations with more SaaS apps, including Jira, Zoom, Monday and Workday.

customer traction

DoControl is also looking to increase its customer base, which currently consists of more than 30 clients. In addition to CrowdStrike, Devo, and Armis, other named clients include IronNet, Minted, BigPanda, Sisense, Similarweb, Papaya Global, Crossbeam, and Snappy.

To help boost sales, the company intends to use some of the new funds to implement channels and other partnership programs, according to Gavish.

New York-based DoControl currently employs 47 and expects to reach 70 employees by the end of the year.

The series B round was led by Insight Partners. Existing investors also participated: RTP Global, StageOne Ventures, Cardumen Capital and CrowdStrike Falcon Fund. DoControl has now raised a total of $45 million in funding since its launch in 2020.

Along with Gavish, a former Product Manager at Google Cloud, DoControl’s founders are Chief Revenue Officer Omri Weinberg (formerly General Manager of SafeDK) and CTO Liel Ran (formerly Cloud and Software Architect at Amenity Analytics).

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