Sysdig closes $70mn in Series E funding to enable enterprises for securing cloud-native workloads in production

Sysdig, Inc., the secure DevOps leader, has announced it raised $70 million in Series E funding led by Insight Partners with participation from previous investors, Bain Capital Ventures and Accel. Glynn Capital also joined this round, along with Goldman Sachs, who joined after being a customer for two years. Sysdig’s total funding to date is $206 million. Sysdig will use the funds to extend market presence and leadership in enabling enterprises to confidently run cloud-native workloads in production. The Sysdig platform addresses both DevOps security and IT operations spaces. IDC forecasts the worldwide DevOps software tools market will reach $15 billion in 2023.

In the healthcare sector, Sysdig helps clients like Cota Healthcare more efficiently operate and protect the software and systems that serve its business. As a result of selecting Sysdig, Cota has a single solution that helps reduce costs and ensures the data hosted with Docker and Kubernetes is secure, reliable, and available. Cota builds solutions for healthcare that analyse, visualise, report, and manage real-world evidence and deliver precision medicine. It has an important mission, merging technology and medicine to improve the lives of cancer patients. The company takes a big data approach to increase treatment effectiveness and lower healthcare costs. And, because the company is entrusted with millions of patient records, visibility and security are paramount to its business.

As Cota Healthcare moved to Kubernetes on Google Cloud, it chose Sysdig for Kubernetes monitoring and container security. With Sysdig, Cota accelerates healthcare service development, improves capacity planning, fixes issues rapidly and strengthens its security posture.

“Containers and Kubernetes development is disrupting the way organisations deploy and run containers, but when you look at the history of major technological changes, Kubernetes is still early. We invest in high-growth companies that are disrupting the old way of doing things, companies that will lead this decade-long transition. Sysdig’s novel approach of providing a single source of truth for both security and monitoring for container-based applications has proven more effective, more scalable, and higher ROI,” said Richard Wells, Managing Director, Insight Partners.

“As a customer, we are impressed with Sysdig’s technology and the company’s open source approach to security. We look forward to Sysdig joining our investment portfolio and seeing their continued growth as a leading Kubernetes security vendor,” said Soumya Rajamani, Vice President– Merchant Banking, Goldman Sachs and Sysdig Board Observer.

“Containers and Kubernetes will take over the world. Over the last year, we have seen competitors partner in an attempt to deliver capabilities similar to ours, but the reality is, these approaches cannot provide the level of visibility and security that we can, even when they use multiple tools. As Kubernetes adoption increases, CISOs will continue to recognise that their IT teams and security tools need to adapt. In 2020, we look forward to partnering with more Global 2,000 organisations in their cloud-native journeys,” said Suresh Vasudevan, Chief Executive Officer, Sysdig.

Kubernetes is the de facto operating system of the cloud; however, as organisations move workloads into production, security and visibility are the biggest barriers. Traditional tools and processes leave enterprises blind because they do not provide visibility with application context for these environments. To reap the benefits of the agility that containers and Kubernetes provide, enterprises need an approach that integrates security and compliance into DevOps workflows. This approach is often referred to as secure DevOps or DevSecOps.

According to Gartner, “By 2021, DevSecOps practices will be embedded in 60 per cent of rapid development teams, as opposed to 20 per cent in 2019. By 2023, more than 70 per cent of enterprise DevSecOps initiatives will have incorporated automated security vulnerability and configuration scanning for open-source components and commercial packages, which is a significant increase from fewer than 30 per cent in 2019.”

To date, Sysdig is the only security company to support a secure DevOps approach by integrating monitoring and security into a single platform. Cloud teams can embed security, maximize availability, and ensure compliance. By integrating security into the DevOps process, teams can realize the business goals in their transition to cloud native. Open by design, Sysdig provides the scale, performance, and usability enterprises demand. Sysdig customers include: Goldman Sachs, Steelcase, and Worldpay from FIS.