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Monad Emerges from Stealth with $17M to Build Security Data Platform in the Cloud

Monad, Inc. emerged from stealth with $17 million in Series A investment. This round is led by Index Ventures with participation from Sequoia Capital and headed by security veterans Christian Almenar and Jacolon Walker. The Monad platform helps customers connect data from various security tools into any data warehouse, making it easier to build security applications and compliance workflows.

The new funding, which brings the total investment to $19 million, comes 12 months after the Sequoia-led seed round, and enables the company to scale its development efforts for its security data cloud platform. Shaun Maguire, partner at Sequoia, will join the Monad board of directors along with Carlos Gonzalez-Cadenas, partner at Index Ventures, joining as board observer. 

"Security is fundamentally a big data problem," said Christian Almenar, CEO and co-founder of Monad. "Customers are often unable to access their security data in the streamlined manner that DevOps and cloud engineering teams need to build their apps quickly while also addressing their most pressing security and compliance challenges. We founded Monad to solve this security data challenge at scale and liberate customers' security data from siloed tools to make it accessible via any data warehouse of choice. We're excited to partner with such an experienced team of investors as we look to accelerate the use of our data security cloud platform and deliver it to companies of all sizes."

The Monad platform enables teams to extract and connect the data from their essential security tools, centralize that data within a data warehouse of choice, and normalize and enrich data so teams have the precise insights they need to secure their systems and data effectively. Monad makes these security insights readily available, accurate, comprehensive, and reproducible. Monad also allows security operations teams to more completely utilize the full capabilities of their security tool sets based upon the actual status of their environment. 

"There are more security tools than ever, but because of the complexity of the environments and the siloed nature of the different security tools, breaches continue to happen," said Carlos Gonzalez-Cadenas, partner at Index Ventures. "Cybersecurity is fundamentally a data management challenge that Monad is poised to solve. Their cloud-native security data platform makes it easy to extract the data from the different security tools already adopted by organizations, integrate it into a clean, connected model and unlock its hidden value. We believe that the Monad team is ready to lead this journey, and we're pleased to announce that we're leading their A-round investment and the launch of their platform."

Every security product within the enterprise generates massive amounts of data. With the typical enterprise having deployed dozens of security tools, enterprise cybersecurity is a growing data management challenge. Unfortunately, this data has historically remained siloed within disconnected logs and databases. These security data islands obscure the view that security operations teams need if they are to adequately understand the actual security posture within their organization.

"Most Fortune 500 companies have hundreds of security vendors, which makes centralizing and operationalizing data from these applications a daunting challenge," said Shaun Maguire, partner at Sequoia. "Monad solves this problem at scale by connecting data from various security tools and providing precise insights to security teams. Christian and Jacolon have made significant traction since the seed and we're thrilled to double down as they take on a massive market opportunity." 

"Innovations in data analytics are transforming departments across the enterprise but cybersecurity has been largely left behind," said Omer Singer, Head of Cybersecurity Strategy at Snowflake. "I regularly speak with security teams that rely on log management tools for threat detection, incident response, compliance automation and security metrics but remain held back by visibility challenges and lack of automation. It's exciting to see how easy Monad makes it for security analysts to join the rest of the company on Snowflake. Now, InfoSec and DevOps teams can build data-driven security and compliance applications limited only by their imagination."
Published Thursday, August 26, 2021 9:47 AM by David Marshall
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