Grip Security, an Israeli SaaS security startup founded in February 2021, has secured a total of $25 million in investments in the 11 short months since its inception. It just raised $19 million in a Series A round of funding led by Intel Capital with participation from existing investor YL Ventures, who led Grip’s $6 million seed round in April of this year.
Grip Security was founded by Lior Yaari (CEO), Idan Fast (CTO), and Alon Shenkler (VP R&D) in February 2021. Grip now plans to triple its workforce in 2022 from 25 employees today to more than 75, accelerate product development and expand its go-to-market in the US.
Grip’s automated solution discovers hundreds of shadow applications and thousands of dormant accounts that have ungoverned continued access to customer data, production environments and more. Visibility is no longer the sole issue for security teams and Grip’s solution responds accordingly. Grip was devised to be quicker and smarter than malicious actors that are now ubiquitous in the SaaS environment and provide customers with rapidly deployed solutions for access management and data governance that look beyond CASBs and web gateways.
“The SaaS sprawl has changed security paradigms, and as a result, enterprises must change as well in order to keep up with technological advancements.”
Read Grip Security’s inaugural blog post by CEO & Co-Founder Lior Yaari here.https://t.co/awvhf9NpZfPlease help us out :
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— Grip Security (@GripSecurity) April 20, 2021
“SaaS is self-service, with the barrier of adoption being only a signup form,” says Lior Yaari, CEO and co-founder of Grip Security. “This leaves CISOs in a frustrating position. With existing inadequate solutions, CISOs must place barriers to SaaS adoption or prohibit it entirely in order to secure their organization, impeding innovation. We believe a self-service problem requires a self-governing solution.”
“Grip has identified what SaaS security teams were lacking and has provided them with a viable, accessible and impactful solution,” said Sunil Kurkure, Managing Director at Intel Capital. “With existing products taking months to deploy and interfering with innovation and scale, Grip’s quick and easy deployment process has the potential to change the way SaaS security interacts with business workflows.”