US Cybersecurity Firm Orca Security Closes $550M Funding Round Led by Temasek, Boosting Valuation to $1.8B

LOS ANGELES and SINGAPORE,Oct. 5,2021 --Fundraising led by Singapore-headquartered Temasekhas raised $550 million in an extended C fundraising round for Orca Security,the cloud security provider announced today along with details on its rapid global deployment,which include APAC markets.

Founded in 2019 and headquartered in Los Angeles,Orca Security already has partners in Japan,India,Australia,and New Zealand. Hitachi Solutions,Ltd. is a leading Japanese partner and notable customers include Japanese buy now pay later Fintech firm,Paidy and Zip.co. The company recently launched versions of its website in Japanese in order to better support its partners,prospects,and customers in APAC.

"We are excited to have Temasek onboard as an investor," said Avi Shua,CEO and co-founder of Orca Security. "The breadth of Temasek's portfolio and networks will help deepen our penetration into the APAC region and beyond,and into key industries such as telecom,financial services,transportation,consumer goods,and more. Orca Security plans to have over a dozen employees in the APAC region by the end of 2021."

"We have a large and complex multi-cloud environment with hundreds of developers pushing code into the cloud,spinning instances up and down,and moving so fast that it's difficult to know what we have," said Felix Beatty,CISO of Paidy. "Orca Security tells us the security posture of all of our cloud assets,but without the headache of having to install and maintain agents or network scanners. Orca also makes it easy to discover vulnerable PII and comply with data privacy laws including Japan's Cross-Border Privacy Regulation and Personal Information Protection Law."

Orca Security's C round of funding included substantial participation from venture capital firms CapitalG (Alphabet's independent growth fund),Redpoint Ventures,GGV,ICONIQ Capital,Lone Pine Capital,Stripes,Adams Street Partners,Willoughby Capital,and Harmony Partners. The extended Series C round led by Temasek boosted Orca Security's valuation 50 percent to $1.8 billion after just seven months.

The strategic investment will further accelerate the transformation of the cloud security industry and expand Orca Security's global footprint and help more companies and governments gain instant-on security and compliance for AWS,Azure,and Google Cloud estates.

Besides the APAC region,Orca Security is expanding in the UK,and across the EMEA region,with a sales office in London and a new R&D center,its first outside of Tel Aviv. Orca Security plans to have over two dozen employees working in London by the end of the year.

Gartner's latest 2021 forecast for worldwide public cloud services is a 26.2% increase. The research and advisory firm expects post-COVID pandemic acceleration of cloud adoption by enterprises,driving a five-year compound annual growth rate (CAGR) of 21.5%. As a result,worldwide public cloud services are predicted to grow from $387.7 billion in 2021 to $805.5 billion in 2025.[1]

Orca Security has had 800 percent year-on-year growth. Its patent-pending SideScanning™ technology collects data directly from cloud provider APIs and the workload's runtime block storage out-of-band. We believe that this technical innovation helped earn the company recognition as a 2021Gartner Cool Vendor.

"Our growth is exploding because Orca Security simply works. We provide fast agentless deployment,100 percent coverage of all cloud assets,and automatic prioritization of the alerts that demand quick action," said Shua.

[1]Gartner ®,Market Trends: Cloud Shift — 2020 Through 2024

By Michael Warrilow,Ed Anderson,Colleen Graham,Published 13 August 2020

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