Or Shoshani
Nov 19, 2024
2
min
I'm thrilled to announce a major milestone for Stream.Security: we've closed a $30 million Series B funding round! This significant investment validates our commitment to providing the most advanced cloud security solutions available and will fuel our continued innovation.
Our unique CloudTwin approach sets us apart, and so far in our journey, we have seen incredible market traction. We’re already helping secure cloud operations for dozens of global enterprises in diverse verticals including financial services, cyber, and industrial, energy, and eCommerce. We have exceeded our targets, growing more than 400%. The market signal has validated the need for next generation cloud detection and response solutions that model the cloud infrastructure in real time. We look forward to putting this new capital to work to help our customers stay ahead of cloud threats and achieve unparalleled results in securing their cloud infrastructure.
The cost of a data breach continues to rise every year as new attack methods, new vulnerabilities, and new risks appear. According to IBM’s Cost of a Data Breach Report 2024, the average cost of a data breach in 2024 was USD $4.88 million, a 10% spike and the highest increase since the pandemic. Despite the fact that it takes an attacker mere minutes to move laterally to exploit the attack surface, 82% of organizations require more than seven hours or more to respond. [Source: ESG Research]
Traditional cloud security solutions were not designed for the dynamic nature of the cloud, and essentially transferred the prevailing protection and response methods from the antiquated on-prem world to the cloud. This approach relies on periodic scanning of cloud applications and infrastructure, which creates a point in time view of the cloud infrastructure and applications, resulting in an inaccurate understanding of security posture that attackers can easily exploit.
Additionally, SecOps and SOC teams have resource and knowledge gaps when it comes to securing and investigating cloud infrastructure. This combination results in unacceptably high risk exposure, wasted response cycles on false positives, and excessively long investigation and response times that amplify loss and remediation cost.
We designed Stream.Security's Cloud Twin technology specifically to help enterprises overcome these challenges by addressing the dynamic nature of the cloud environment. It is a game-changer in cloud security. It creates a real-time, dynamic model of your entire cloud environment, capturing all configurations, activities, and user behavior. This enables us to:
We are proud of the tangible ROI our customers are experiencing. They have reduced SIEM costs by minimizing data volume and achieved additional savings through tool consolidation—replacing cloud-native services for threat detection and configuration management while streamlining operations. Our platform has cut SOC, SecOps, and DevOps labor costs by 75% and accelerated onboarding and training by 35%. In addition, eliminating the need for dashboard development and maintenance has freed countless hours, empowering teams to focus on what matters most: securing their cloud environments.
When it comes to what it takes to secure the cloud and how the Stream’s real-time approach fits, Petr Zuzanov, SecOPS architect at Ring Central encapsulates what we are hearing across the market: “We had a tough time gathering enough context to triage quickly, and getting a real-time view of an attack was always a challenge. Stream has been a game-changer for us, helping close security gaps in our cloud infrastructure by giving us clear insight into the attack path and blast radius of every threat or exposure. Their real-time platform uncovered risks we didn’t even know existed, cutting down our risk exposure, reducing time wasted on false positives, and significantly lowering the overall cost and effort of remediation.”
This new funding will allow us to further our mission of helping forward thinking organizations thrive in the cloud. We look forward to deploying the capital in the following areas to ensure near term and long-term customer success:
We are committed to significantly investing in R&D to advance our Cloud Twin technology and expand the Stream platform's capabilities, ensuring we stay ahead of evolving threats and deliver the most comprehensive cloud security solutions available to enterprises worldwide.
With this capital, we will accelerate our go-to-market efforts and expand globally, reaching more organizations and businesses. Our focus on innovation has already attracted a fast-growing customer base, and we’re eager to scale further. Both new and existing customers will benefit from enhanced features, faster deployment, and strengthened security designed to meet their needs.
We are dedicated to delivering exceptional products and ensuring our customers maximize their investment in our technology. This funding will help us expand our customer success initiatives and provide world-class support to our ever-growing client base.
To those of you who have joined us on our journey, we want to thank you for being a Stream customer, and for those of you who have not yet come on board, we invite you to check us out and learn firsthand how we can help transform the way you and your team think about Cloud Security.
Stream.Security delivers the only cloud detection and response solution that SecOps teams can trust. Born in the cloud, Stream’s Cloud Twin solution enables real-time cloud threat and exposure modeling to accelerate response in today’s highly dynamic cloud enterprise environments. By using the Stream Security platform, SecOps teams gain unparalleled visibility and can pinpoint exposures and threats by understanding the past, present, and future of their cloud infrastructure. The AI-assisted platform helps to determine attack paths and blast radius across all elements of the cloud infrastructure to eliminate gaps accelerate MTTR by streamlining investigations, reducing knowledge gaps while maximizing team productivity and limiting burnout.
