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 information and functions. 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 great progress and adoption,” Erkang Zheng, founder and CEO of JupiterOne, mentioned.
“As well as, the necessity to strengthen defenses — upfront of macroeconomic adjustments that would lead to a rise in financially-motivated assaults — boosts the demand for cybersecurity software program, particularly for cloud environments that hackers could discover extra handy to penetrate.”
That is how Zheng justifies JupiterOne’s estimated valuation of over $1 billion, which comes after right now’s announcement of a $70 million Collection C funding spherical. Though unicorns aren’t what they was once, with the cybersecurity area alone itemizing over 50 of them, this market provides 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% throughout the years 2022-2026 in keeping with Markets and Markets. In response to 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 value wanting 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 information mannequin… uniquely positioned to steer this rising market.”
The corporate guarantees to assist shoppers simply determine, map, analyze, and safe cyber property. Its checklist of shoppers consists of cloud-native enterprises like Cisco, Databricks, Certainly, and Robinhood.
Step one to doing that is to connect with as many programs as potential. As Zheng shared, JupiterOne at present helps over 180 integrations out of the field, with new integrations launched regularly. Some examples embrace cloud suppliers, vulnerability scanners, authentication and authorization programs, and identification administration instruments.
JupiterOne connects to all of a corporation’s infrastructure, cloud, and safety tooling and programs as a way to acquire, combine, and mannequin all of its cyber asset information. It is an agentless expertise that makes use of API-based connectivity to gather the info, Zheng mentioned.
The corporate has been creating the breadth and depth of its integrations for over 4 years. At this time, JupiterOne provides open supply options — corresponding 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 information mannequin to show the intricate relationships between cyber property, 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 property enriches your safety investigations with a whole understanding of the incident, so you’ll be able to assess its influence, see what was affected, and optimize your incident response workflows.
“It additionally lets you achieve structural context about your enterprise to know not simply what is happening, however the place. We use a graph-based back-end system to mannequin the nodes (property) and connections (relationships) as a way to present good and actionable insights and evaluation of your atmosphere.”
Certainly, cybersecurity is likely one of the domains wherein graph shines. It comes down to 2 issues: the flexibleness of the info mannequin, which permits integration of information from disparate sources, and the effectivity of the queries, which permits exploration of complicated paths and relationships.
Starbase, JupiterOne’s open supply framework aiming to “democratize graph-based safety evaluation,” collects property and relationships from providers and programs together with cloud infrastructure, SaaS functions, safety controls, and extra right into a graph view backed by Neo4j.
JupiterOne’s core product encompasses a custom-built question language (J1QL), prebuilt queries, and a pure language-based search to reply any query.
Elaborating on how cyber asset information is monitored and up to date to serve completely 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 remedy your considerations, you should utilize our visible question builder or our direct search question language to ask any query of your alternative.”
Zheng added, “Ask any query and get any reply. Questions may be changed into repeatedly monitored queries which might be linked to alerts, and all information is offered through customizable dashboards”.
One platform, many use instances, sturdy progress
In addition to CAASM, JupiterOne addresses cloud safety posture administration; safety operations and engineering; and governance and compliance. However how can one thing like GDPR compliance for information generated through utility X and saved in cloud supplier Y be assessed and monitored?
As Zheng defined, all the cyber asset information from utility X and cloud supplier Y are normalized and saved inside the JupiterOne graph system. This enables customers to ask questions of that information in extraordinarily complicated methods.
“Compliance comes from figuring out what inquiries to ask after which asking them with the suitable frequency to seek out dangers. As soon as you discover the dangers, you repair them, thus rising your safety alongside your compliance stage,” Zheng mentioned.
What in regards to the monitoring vulnerabilities state of affairs? For instance, how can one thing just like the potential influence of Log4j to a shopper’s functions be assessed and corrective motion be steered?
First, JupiterOne connects to utility scanning options to find out the place a code vulnerability, corresponding to Log4j, would exist in a consumer’s atmosphere. From there, customers can ask complicated questions like: Who wrote the code that comprises 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 atmosphere that can assist you unravel points and remediate them sooner than ever earlier than,” Zheng mentioned.
JupiterOne’s $70 million Collection 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 progress yr over yr have been sturdy. He added that the subscription mannequin promotes buyer retention and renewal, which helps undertaking continued progress for years to come back.
The funds shall be used to develop go-to-market capabilities, broaden engineering investments, and improve product improvement. 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 shall be used to increase the attain of the corporate’s intensive 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.