Orca Security extends Series C Round to $550mn led by Temasek

The cloud security innovator Orca Security, has announced its extended Series C fundraising of $550mn led by Temasek, a Singaporean investment company.

The funding round brings the 2-year-old company’s total raised to $632 million and boosts its valuation to $1.8 billion. It joins the ranks of L.A. tech companies like Whatnot Inc. and Liminex Inc., better known as GoGuardian, which have also achieved valuations of more than $1 billion this year.

The investment is a $340 million extension of Orca Security’s initial Series C round of $210 million, which closed in March. The company said it plans to use the funding for “rapid global deployment” of its staff and products, and expansion into new markets in the United Kingdom, Europe, the Middle East, Africa and the Asia-Pacific region.

The Chief Executive Officer and co-founder of Orca Security, Avi Shua, said:

“Customers are fed up with agent-based tools that claim run-time protection but de facto are little more than a gimmick, typically reach only a fraction of the environment, and don’t provide the context security teams desperately need to prioritise critical alerts,”

“Our growth is exploding because Orca Security simply works. We provide fast agentless deployment, 100 percent coverage of all cloud assets, and automatic prioritisation of the alerts that demand quick action.”

Orca Security will leverage Temasek’s investment portfolio and global network to deepen its penetration into the APAC region and beyond, and into key industries such as telecom, financial services, transportation, consumer goods, and more. Orca Security plans to have over a dozen employees in the APAC region by the end of 2021.

According to Gartner “By 2023, 70% of all enterprise workloads will be deployed in cloud infrastructure and platform services, up from 40% in 2020.” [1] Under this paradigm shift, agent- based solutions are ill-suited to meet the increased complexity and ephemeral nature of the cloud.