DoControl, a Software-as-a-Service security company, after dealing with various angel investors and other equity companies, recently announced that it had closed a $30 million Series B funding through the New York-based global private equity and venture capital firm Insight Partners, together with StageOne Ventures, Cardumen Capital, RTP Global, and CrowdStrike’s early-stage investment fund, the CrowdStrike Falcon Fund.
The issue that DoControl is tackling has grown with the way that enterprises work today. As more companies change their IT activities into cloud environments, collaboration doesn’t just happen between people in the same company; increasingly, people share documents and data across different companies, too.
Adam Gavish saw this problem first-hand when he worked on privacy and security at Google Cloud prior to funding DoControl. It was there that he first started seeing the problem however struggled to get people to want to build something to address it.
Things are speedily changing, however, with security breaches such as the one at Okta focusing on how an app authentication may not always be enough to protect data.
DoControl’s solution is built on the idea of attaching a zero-trust security principle to data access, similar to the zero-trust approach that many vendors have built around network or app access, where users are required to log in to use apps.
The investment from Insight Partners will enable DoControl to double its headcount and advance its market penetration in the United States and overseas. DoControl will also create a national channel partner program to enable MSPs, resellers, and other key partners to provide Zero Trust SaaS data access control capabilities to a broader user base. Most importantly, DoControl will leverage its funding to develop innovations that meet the needs of modern businesses reliant on SaaS tooling while extending its use cases to new vertical markets.
By: K. Tagura
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