DivvyCloud today announced new capabilities
and technological advancements to its solution, as well as significant
company growth achieved over the last 18 months. Fueled by a recent $19
million funding round and additions to the company's leadership team,
DivvyCloud has achieved 230 percent year-over-year (YoY) revenue growth
and 100 percent growth in its customer base. "As
companies continue to implement multi-cloud strategies, they need a
platform that allows them to fully embrace self-service access without
losing control," said Brian Johnson, CEO and co-founder of DivvyCloud.
"Our solution uses automated remediation to minimize risks associated
with misconfigurations, policy violations, threats, and Identity and
Access Management (IAM) challenges, and gives enterprises a unified
security posture for their multi-cloud and container environments,
ensuring continuous security and compliance. Our new product
capabilities make this process even easier. In a market sector with
enormous demand, DivvyCloud is driving innovation, solving customer pain
points, and enabling customers to balance their need for innovation at
speed with security." Product Innovations DivvyCloud's
growth in terms of revenue and customer base can be attributed to its
focus on innovation and dedication to customer success. DivvyCloud has
made the following enhancements to its product offering to further allow
customers to strengthen and simplify security and compliance
management: - IAM Protection. DivvyCloud
helps organizations govern IAM and adopt a unified zero trust security
model across their cloud and container environments. In these
environments, everything has an identity: users, applications, services,
and systems. This provides enormous flexibility, but also creates the
opportunity for substantial risk as every service is potentially
reachable by every other one, regardless of location, but only if an
implicit trust is defined. DivvyCloud's expanded capabilities help
companies address this perimeter fluidity and the substantial challenges
created by security professionals having to govern cloud environments
at scale. With DivvyCloud, companies can protect the identity perimeter
at scale through automated monitoring and remediation around access
management, role management, identity authentication, and compliance
auditing.
- Risk Assessment and Auditing. DivvyCloud
helps security, governance, risk, and compliance professionals quickly
assess risk and make informed decisions about how to manage and
remediate risk. In order to build trust, organizations must be able to
prove to executives, auditors, and stakeholders that their cloud
environments are well-governed. The DivvyCloud Compliance Scorecard
delivers a visual representation of risk aligned with regulatory or
industry standards, or customers' own corporate standards, through an
interactive heat map. This heat map provides a unified view across all
cloud environments and can be filtered by facets like cloud environment,
account, business unit, application, risk profile, compliance standard,
etc. The Compliance Scorecard assists teams of all types, including
auditors, operations, security, and compliance, in identifying areas
where risk exists, as well as providing guidance for acting
appropriately to remediate this risk. It provides a way to prove to
executives and auditors, through data, the current and historical state
of security and compliance. Additionally, the Compliance Scorecard can
be used to deliver actionable and understandable data to business units
and teams to demonstrate where security posture improvement is necessary
and how their security posture is trending.
- Threat Protection. DivvyCloud delivers a unified approach to monitoring and responding to threats to
cloud accounts and workloads across multiple clouds, and makes it easy
to implement automation that reduces remediation and recovery time. To
deliver threat protection, DivvyCloud leverages cloud service provider
(CSP) services (e.g. Amazon GuardDuty) for best-in-class intelligent
threat detection that continuously monitors for malicious activity and
unauthorized behavior. For example, GuardDuty analyzes tens of billions
of events across multiple AWS data sources, such as AWS CloudTrail,
Amazon VPC Flow Logs, and DNS logs and helps detect activity such as
crypto-currency mining, credential compromise behavior, communication
with known command-and-control servers, or API calls from known
malicious IPs. When a threat is identified, DivvyCloud can perform
automated remediation actions including reconfiguring cloud services,
making changes to cloud infrastructure, driving human-centered workflows
with integration into systems like ServiceNow and Jira, and
orchestrating workflow actions in other security and management systems.
Company Growth Since
its founding in 2013, DivvyCloud has experienced immense growth, which
has accelerated in recent months. Specific metrics include: - Two hundred percent YoY revenue growth in the past 18 months
- One
hundred percent increase in customer base over the past 18 months,
including several new marquee customers such as Twilio, 3M, Autodesk,
Pizza Hut, CoStar, and Kroger
- Only
one enterprise customer has been lost in the five-year history of the
company while annual recurring revenue (ARR) growth from existing
customers has been upwards of 30 percent--proof of the immense growing
value that DivvyCloud provides to its customers
Strengthened Leadership Team DivvyCloud
has doubled its staff in the past year, including significantly growing
its engineering team to continually drive product innovation.
Additionally, strategic additions to the company's leadership team
include: - Scott Totman, vice president of engineering. Totman
leads the innovation, development, and delivery of DivvyCloud's
software. Prior to joining DivvyCloud, Totman was the vice president for
Capital One's Digital Products Engineering organization, which builds
every digital touchpoint for Capital One customers through web and
mobile platforms. Prior to Capital One, Totman worked at AOL running AIM
and ICQ, the world's largest messaging platforms at the time.
- Rick Juneja, vice president of customer success. Juneja
is focused on driving adoption of DivvyCloud's software by
demonstrating value and enhancing relationships within the company's
broad customer base. Juneja's experience as the senior vice president of
customer success, professional services and support at OPower (acquired
by Oracle) will prove invaluable. During his tenure at OPower, Juneja
was a key player in the company's growth from $27 million to $150
million in ARR.
Accolades DivvyCloud's innovation in cloud security continues to receive recognition with wins in well-known industry awards, including: - Winner in the cloud security category in the 2019 Cybersecurity Excellence Awards
- Recognized as the editor's choice vendor of the cloud security category in Cyber Defense Magazine's InfoSec Awards 2019
- Winner of the private and public cloud compliance category in the 2019 Fortress Cyber Security Awards
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