As cloud threats flood businesses, Cado Security aims for rapid expansion
Cado Security, which offers a digital forensic platform for cloud environments, is seeing strong demand for its automation-based product and plans to grow rapidly to meet business needs, says CEO James Campbell .
On Tuesday, Cado Security released the results of a new Enterprise Strategy Group survey, which found that digital forensics and incident response processes are less mature for cloud environments than for on-premises environments. Investigations are more difficult in cloud environments, according to research.
Respondents reported that it currently takes around three days to launch a cloud breach investigation, after data capture and processing. And nearly 9 in 10 companies said they saw a “negative outcome” occur during that time frame.
Digital forensic platforms are used to collect and process data from a company’s environments, enabling investigation and response to a security incident. London-based Cado claims to offer the “first and only” cloud-native digital forensic platform.
This is an advantage because it means that the Cado platform is “determined and designed for these environments”, like Amazon Web Services and Microsoft Azure, and offers “depth of instrumentation for these environments” not offered by existing tools. said Doug Cahill, vice president and senior analyst at Enterprise Strategy Group.
As businesses accelerated their transition to the cloud during the pandemic, there are plenty of indicators that security has not kept pace. For example, the recently released Thales Cloud Security Study 2021 found that 83% of U.S. businesses still fail to encrypt half of the sensitive data they store in the cloud.
Boom hours for Cado
Campbell, who co-founded Cado Security in April 2020, said customer demand for the Cado platform has been significant in recent months, although the company is not disclosing the number of clients it has landed so far. here.
“We got more interest than we can actually handle,” he told VentureBeat. “Our job at Cado now is to ensure that we can scale in ways that are feasible to meet demand. “
Over the next six months, Cado Security plans to regularly hire and grow to 50 employees, Campbell said. He refused to share the company’s current workforce.
Campbell, who previously ran PricewaterhouseCoopers’ cyber response service and Australia’s National Signals Branch as an associate director, co-founded Cado with Chris Doman, who previously built the ThreatCrowd threat intelligence portal and is the director of the technology of the startup.
With AWS and Azure, Cado’s platform can also be used with containers and data from on-premises environments.
Earlier this month, Cado announced a partnership with SentinelOne, a rapidly growing vendor offering AI-based security for endpoints and cloud workloads that went public in June. Other milestones this year for Cado include a $ 10 million Series A round led by Blossom Capital in April, bringing the company’s total funding to $ 11.5 million to date.
The Cloud Security Challenge
In the new Enterprise Strategy Group survey, respondents cited the lack of data and context to conduct surveys on cloud environments, as well as the time required to collect and process the data, as major issues. Ultimately, 35% of security alerts for cloud environments go unaddressed, according to the survey.
But with Cado, “the ability to ingest the information about the event – the forensic residue from all relevant sources – and then harmonize that can really speed up the time between detection and investigation,” Cahill said. . “So you can start to eliminate some of the bad results downstream. “
Cado’s platform provides these capabilities by automating many of the processes involved in cloud forensics, Campbell said. The platform automatically captures the data, processes it quickly, and lets customers understand what it means using analytics powered by machine learning, the company said.
“We’re bringing in automation and taking the complexity out of the cloud to the point where all you have to do is click a button and you have your data. It’s that easy. And this is how we should use the cloud. We should make it easier, ”Campbell said. “And that’s the only way for us to keep pace with the change that’s taking place. Attackers move to the cloud because everyone is moving their data and workload resources to the cloud. And we have to do something about it.
The Cado platform is well suited for customers in all industries with a cloud environment, especially businesses heavily reliant on the cloud, he said. The platform is also helping address the shortage of cybersecurity workers and skills, Campbell said.
“Now the IT manager or the security manager doesn’t just have to be an on-premise expert, you are now asking them to be an AWS expert and an Azure expert,” he said. “The idea is to remove the requirement that they have to be an AWS expert or an Azure expert. We’re giving them something that they can use in a very familiar way, to do an investigation quickly, mostly through automation.
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