Technology: Southeast News

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 Posted May 10, 2021

JupiterOne, a cybersecurity management automation startup, today closed a $30 million series B round led by Sapphire Ventures. Cofounder and CEO Erkang Zheng says the capital will be used to grow JupiterOne’s engineering, product development, and go-to-market capabilities, including building out its remote workforce and extending the reach of partnership and integration teams.

Cybersecurity asset management, or the process of creating and continually updating an inventory of IT resources, can be a resource drain. According to a 2019 Deloitte survey, executives spend 13% of their time addressing cyber monitoring and operation challenges. Despite this, relatively few businesses are proactive about asset management, perhaps owing to logistical challenges. Gartner estimates that only 35% of companies are designing, documenting, and regularly testing assets using inventory tools and software.

JupiterOne claims to make security teams more efficient by centralizing the data from dozens of cloud services into a single hub for management, analysis, and alerts. Via the platform’s integrations and API, it automatically pulls in read-only data to generate a real-time inventory of resources and assets, including code, repositories, and endpoints. A one-word search across the inventory returns detailed information like account access, devices in use, resources, and even user-made changes to code repositories.

{mprestriction ids="1,4,9"}JupiterOne was founded as a subsidiary of Indianapolis, Indiana-based health software company LifeOmic. Zheng served as LifeOmic’s chief information security officer and initially built JupiterOne to support LifeOmic’s security and compliance needs. In pursuit of a cybersecurity asset management segment that’s anticipated to reach $8.5 billion in spending by 2024, according to Zheng, LifeOmic productized the solution as JupiterOne and spun it out in March 2018.

“JupiterOne was born on the back of the idea that maintaining a deep understanding of what cyber assets are in your environment and how they are interconnected would provide the foundation for any security programs you were trying to build,” a spokesperson told VentureBeat via email. “[The company] provides innovative cyber asset management and governance solutions to over 100 enterprises around the world. Additionally, JupiterOne has a free software-as-a-service offering that any company of any size can use. [The company] believes that security is a basic right for all and provides free service levels to support that level of basic right.”

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