Dig Security founders
Palo Alto Networks, an American cyber security firm, is looking to buy Israeli cloud data security startup Dig Security for as much as $400 million. Reports indicate that talks for a buyout have been going on for months and are now in their “most advance stage.”
The news comes just after reports indicated that Palo Alto Networks was looking to acquire another Israeli cybersecurity firm, Talon Cyber Security, for as much as $600 million.
Gig Security has raised $45 million to date and most recently had a valuation estimated at $125 million, less than a third of its possible sale price. Talon Cyber Security has raised $126 million to date.
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In all, Palo Alto Networks could spend more than $1 billion on the two startups. So, cybersecurity tech is really in demand these days.
Founded in 2005, Palo Alto Networks boasts that as a cybersecurity firm, it is shaping the “cloud-centric future with technology that is transforming the way people and organizations operate.”
Dig Security was founded by CEO Dan Benjamin, Ido Azran and Gad Akuka, three veteran entrepreneurs who’ve previously founded successful companies that were acquired by major firms. They also gained experience at tech giants including Google and Microsoft. Since it was founded, Dig has grown extremely quickly; the company already has a large data security research team and paying customers.
Dig Security boasts that its service is unique because it combines the three most important sets of capabilities to secure data in the cloud; First, Data Security Posture Management (DSPM) that highlights data misconfigurations, access anomalies and data vulnerabilities. Second, DLP that prevents data exfiltration early in the kill chain. Third, a real-time data detection and response (DDR) engine that issues alerts as soon as a suspicious activity has occurred. ‘This unique combination,” says the company, “sets Dig as the only solution that addresses static risk of data at rest and in motion as well as real time dynamic risk changes. In today’s standards when the window of opportunity to stop an attacker is less than three minutes, this is a game changer.”
Dig Security gives organizations complete control over their cloud data, providing real-time Data Detection and Response (DDR). Using one of the industry’s most comprehensive threat models for cloud data attacks, Dig detects, analyzes and responds instantly to threats to cloud data, triggering alerts on suspicious or anomalous activity, stopping attacks, exfiltrations and employee data misuse.
