The worldwide annual value of cyber crime is estimated to be $6 trillion per yr, or 1% of the International GDP. On the identical time, cloud computing is quickly changing into the dominant mannequin utilized by enterprise each to develop new providers and to host knowledge 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 large development and adoption,” Erkang Zheng, founder and CEO of JupiterOne, mentioned.
“As well as, the necessity to strengthen defenses — upfront of macroeconomic modifications that might lead to a rise in financially-motivated assaults — boosts the demand for cybersecurity software program, particularly for cloud environments that hackers might discover extra handy to penetrate.”
That is how Zheng justifies JupiterOne’s estimated valuation of over $1 billion, which comes after at the moment’s announcement of a $70 million Sequence C funding spherical. Though unicorns usually are not what they was, 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% in the course of the years 2022-2026 based on Markets and Markets. In keeping with Gartner, cloud safety is the quickest rising phase 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 price 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 knowledge mannequin… uniquely positioned to guide this rising market.”
The corporate guarantees to assist shoppers simply establish, map, analyze, and safe cyber belongings. Its record of shoppers contains cloud-native enterprises like Cisco, Databricks, Certainly, and Robinhood.
Step one to doing that is to hook up with as many techniques as attainable. As Zheng shared, JupiterOne at the moment helps over 180 integrations out of the field, with new integrations launched regularly. Some examples embody cloud suppliers, vulnerability scanners, authentication and authorization techniques, and id administration instruments.
JupiterOne connects to all of a corporation’s infrastructure, cloud, and safety tooling and techniques with a purpose to gather, combine, and mannequin all of its cyber asset knowledge. It is an agentless expertise that makes use of API-based connectivity to gather the info, Zheng mentioned.
The corporate has been growing the breadth and depth of its integrations for over 4 years. As we speak, JupiterOne presents open supply options — akin to Starbase — that assist 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 knowledge mannequin to reveal the intricate relationships between cyber belongings, 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 belongings enriches your safety investigations with an entire understanding of the incident, so you may assess its affect, see what was affected, and optimize your incident response workflows.
“It additionally means that you can achieve structural context about your enterprise to know not simply what is occurring, however the place. We use a graph-based back-end system to mannequin the nodes (belongings) and connections (relationships) with a purpose to present good and actionable insights and evaluation of your setting.”
Certainly, cybersecurity is without doubt one of the domains during which graph shines. It comes down to 2 issues: the pliability of the info mannequin, which allows integration of information from disparate sources, and the effectivity of the queries, which allows exploration of complicated paths and relationships.
Starbase, JupiterOne’s open supply framework aiming to “democratize graph-based safety evaluation,” collects belongings and relationships from providers and techniques together with cloud infrastructure, SaaS purposes, safety controls, and extra right into a graph view backed by Neo4j.
JupiterOne’s core product includes a custom-built question language (J1QL), prebuilt queries, and a pure language-based search to reply any query.
Elaborating on how cyber asset knowledge is monitored and up to date to serve totally different use instances and necessities, Zheng mentioned, “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 clear up your considerations, you need to use 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 will be was repeatedly monitored queries which are linked to alerts, and all knowledge is offered through customizable dashboards”.
One platform, many use instances, robust development
Moreover CAASM, JupiterOne addresses cloud safety posture administration; safety operations and engineering; and governance and compliance. However how can one thing like GDPR compliance for knowledge generated through software X and saved in cloud supplier Y be assessed and monitored?
As Zheng defined, the entire cyber asset knowledge from software X and cloud supplier Y are normalized and saved throughout the JupiterOne graph system. This enables customers to ask questions of that knowledge 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 rising your safety alongside your compliance stage,” Zheng mentioned.
What concerning the monitoring vulnerabilities state of affairs? For instance, how can one thing just like the potential affect of Log4j to a consumer’s purposes be assessed and corrective motion be advised?
First, JupiterOne connects to software scanning options to find out the place a code vulnerability, akin to Log4j, would exist in a person’s setting. From there, customers can ask complicated questions like: Who wrote the code that incorporates the problem? What’s their safety coaching stage? Is that this code working in manufacturing? Whether it is working 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 mentioned.
JupiterOne’s $70 million Sequence C funding spherical brings the corporate’s complete 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 current buyers, together with Sapphire, Bain Capital Ventures, Cisco Investments, and Splunk Ventures.
Commenting on the corporate’s valuation, Zheng mentioned that monetary metrics and development yr over yr have been robust. He added that the subscription mannequin promotes buyer retention and renewal, which helps undertaking continued development for years to return.
The funds will probably be used to develop go-to-market capabilities, develop engineering investments, and improve 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 will probably 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 prospects whereas increasing self-service capability for small and midsize companies.