Dig Exits Stealth With $11M for Cloud Data Detection and Response Solution

PRESS RELEASE

TEL AVIV, Israel, May 19, 2022 /PRNewswire/ -- Cloud data security company Dig emerged from stealth today, announcing $11M in seed funding for the first cloud Data Detection and Response (DDR) solution. The seed round was led by Team8, with cybersecurity firms CrowdStrike, through their Falcon Fund, and CyberArk joining as strategic investors alongside Merlin Ventures. Moving beyond posture solutions, Dig Security helps organizations discover, monitor, detect, protect and govern their cloud data in real time through a single unified policy engine.

Angel investors include Tom Killalea (Chairman of MongoDB), Jeff Fagnan (Carbon Black, Veracode), Nir Polak (Founder of Exabeam), Ori Fragman (CISO Europe of Ahold Delhaize) and Nitzan Shapira (Founder of Epsagon).^[1]

Data is the ultimate target of most cyberattacks; it's the easiest way to profit from hacking. However, data in the cloud is fragmented across multiple clouds and services. A typical enterprise stores data on more than 20 types of service and thousands of instances. These organizations don't have visibility, context or control over their cloud data. Existing data security solutions weren't built to protect cloud data and are often irrelevant.

"I've spoken to more than a hundred CISOs and hear the same complaints over and over", said Dan Benjamin, CEO and co-founder of Dig. "Companies don't know what data they hold in the cloud, where it is, or — most importantly — how to protect it. They have tools to protect endpoints, networks, APIs… but nothing to actively secure their data in public clouds".

Dig gives organizations complete control over their cloud data, providing real-time Data Detection and Response (DDR). Using one of the industry's most comprehensive threat models for cloud data attacks, Dig detects, analyzes and responds instantly to threats to cloud data, triggering alerts on suspicious or anomalous activity, stopping attacks, exfiltrations and employee data misuse.

The solution discovers all data assets across public clouds and brings context to how they are used. It also tracks whether each data source supports compliance like SOC2 and HIPAA.

Dig was founded by Dan Benjamin, Ido Azran and Gad Akuka, three veteran entrepreneurs who've previously founded successful companies that were acquired by major firms. They also gained experience at tech giants including Google and Microsoft. Since it was founded, Dig has grown extremely quickly; the company already has a large data security research team and paying customers.

"It's rare to meet a founding team who have both an insider view of cloud security challenges from within Microsoft and Google's cloud organizations, alongside the experience of founding successfully acquired security companies," said Liran Grinberg, Co-Founder & Managing Partner at Team8. "Dig's active approach, bringing detection and response to data in the cloud, is precisely what the market needs. Data security in the cloud is high on the priority list of most CISOs today and we're proud to invest in the company we believe will lead this category."

"Organizations that lack visibility across their infrastructure have data protection challenges," said Michael Sentonas, Chief Technology Officer at CrowdStrike. "Through our Falcon Fund, we look forward to supporting Dig in their journey to provide data transparency, improving cloud data security and protection."

^[1] Angel investors in their personal capacities. Affiliations included for identification purposes only.