Cyscale Snags €3M To Put Halt To Cloud Security Issues
To boost cloud security for comapnies , the Romania based platform Cyscale gathers funding of €3M.
With prospects of global cloud market estimated to reach over $623 billion the security concerns regarding cloud computing are whopping. In the last 18 months 79% of the companies have experienced cloud data breach and 43% have reported 10 or more breaches. But to provide companies with a secure path to carry on their cloud functions smoothly, a startup named Cyscale has secured funding of €3M.
The cloud security company gathered this funding from prominent investors. Such as Notion Capital, with participation from GapMinder, SeedCamp, Micha Hernandez van Leuffen, previously founder of Wercker and now Fiberplane and NP-Hard Ventures and David Mytton, founder of Console.dev and Server Density. Last year the company had raised €350,000 on SeedBlink.
After receiving backing from investors, the startup with this fresh injection of funds aims to expand throughout Europe and increase its team. No doubt, after its launch in 2019 by Manuela Ticudean and Ovidiu Cical, Cyscale has come a long way. And right now aims to build a comprehensive security knowledge graph for organizations, ingesting data from multiple sources. Plus generating an in-depth contextual analysis for their cloud assets.
Furthermore, the company has also constructed a compliance module which aids the security leaders to keep track of gaps between their policies and technical implementation in the cloud. In his pursuit to fight the cloud security issues Co-Founder Manuela Ticudean said
-“Most cloud security tools analyze cloud infrastructures by running through sets of configuration best practices and verifying them against each cloud resource. The problem with this approach is the rate of false positives. Looked at in isolation, a resource may be misconfigured, but there are other contextual factors that determine the actual danger for a business.”-
Also comprehending the problems regarding mislabeled security alerts called as false positives. He said:
“False positives create noise and keep security engineers from focusing on the highest-risk issues.”
Other than this, Cyscale wants to support every industry from pharmaceuticals to ecommerce in safe and secure cloud system. And claims to monitor the cloud assets in just 5 minutes. And supports all major cloud providers from Amazon Web Services to Microsoft Azure, Google Cloud, Oracle Cloud and IBM cxloud.