Temasek leads $550 million funding in cloud safety agency Orca Security

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Oct 5 (Reuters) – Singapore state investor Temasek led a $550 million funding spherical in Israel’s Orca Security, lifting the cloud safety firm’s valuation to $1.8 billion, a 50% leap in round seven months.

Cloud safety know-how suppliers have seen a fast rise in demand for his or her services and products because the COVID-19 pandemic compelled world companies to shift to distant working and pushed them to speculate extra in securing their information.

Orca Security’s enterprise grew roughly nine-fold year-on-year, and the corporate stated it would use Temasek’s portfolio and community to drive its penetration within the Asia-Pacific areas and into key industries equivalent to telecom, monetary companies, transportation, and client items, amongst others.

U.S. engineering and enterprise IT companies supplier SAIC (SAIC.N) and the enterprise capital arm of Splunk Inc (SPLK.O) additionally invested in newest spherical, which is an extension of its beforehand introduced Series C in March that valued Orca Security at $1.2 billion.

Other individuals embrace enterprise capital companies equivalent to ICONIQ Capital, Stripes, Alphabet Inc’s (GOOGL.O) impartial progress fund CapitalIG, and Adams Street Partners.

Orca Security additionally stated it plans to develop its presence and buyer base within the UK, Europe, Middle East and Africa.

Its providing, which is compliant with Amazon Web Services (AWS), Google Cloud and Microsoft Azure, can discover vulnerabilities, malware, leaked and weak passwords, and high-risk information.

The firm’s know-how is utilized by the likes of information analytics platform Databricks, software program agency Autodesk Inc (ADSK.O), media big News Corp (NWSA.O) and language studying app Duolingo Inc (DUOL.O).

Reporting by Sohini Podder in Bengaluru; modifying by Uttaresh.V

A Temasek logo is seen at the annual Temasek Review in Singapore July 7, 2016. REUTERS/Edgar Su/File Photo