ARLINGTON, Va.--(BUSINESS WIRE)--DivvyCloud, the leading independent provider of security and compliance automation for cloud and container environments, today announced new capabilities and technological advancements to its solution, as well as significant company growth achieved over the last 18 months. Fueled by a recent $19 million funding round and additions to the company’s leadership team, DivvyCloud has achieved 230 percent year-over-year (YoY) revenue growth and 100 percent growth in its customer base.
“As companies continue to implement multi-cloud strategies, they need a platform that allows them to fully embrace self-service access without losing control,” said Brian Johnson, CEO and co-founder of DivvyCloud. “Our solution uses automated remediation to minimize risks associated with misconfigurations, policy violations, threats, and Identity and Access Management (IAM) challenges, and gives enterprises a unified security posture for their multi-cloud and container environments, ensuring continuous security and compliance. Our new product capabilities make this process even easier. In a market sector with enormous demand, DivvyCloud is driving innovation, solving customer pain points, and enabling customers to balance their need for innovation at speed with security.”
Product Innovations
DivvyCloud’s growth in terms of revenue and customer base can be attributed to its focus on innovation and dedication to customer success. DivvyCloud has made the following enhancements to its product offering to further allow customers to strengthen and simplify security and compliance management:
- IAM Protection. DivvyCloud helps organizations govern IAM and adopt a unified zero trust security model across their cloud and container environments. In these environments, everything has an identity: users, applications, services, and systems. This provides enormous flexibility, but also creates the opportunity for substantial risk as every service is potentially reachable by every other one, regardless of location, but only if an implicit trust is defined. DivvyCloud’s expanded capabilities help companies address this perimeter fluidity and the substantial challenges created by security professionals having to govern cloud environments at scale. With DivvyCloud, companies can protect the identity perimeter at scale through automated monitoring and remediation around access management, role management, identity authentication, and compliance auditing.
- Risk Assessment and Auditing. DivvyCloud helps security, governance, risk, and compliance professionals quickly assess risk and make informed decisions about how to manage and remediate risk. In order to build trust, organizations must be able to prove to executives, auditors, and stakeholders that their cloud environments are well-governed. The DivvyCloud Compliance Scorecard delivers a visual representation of risk aligned with regulatory or industry standards, or customers’ own corporate standards, through an interactive heat map. This heat map provides a unified view across all cloud environments and can be filtered by facets like cloud environment, account, business unit, application, risk profile, compliance standard, etc. The Compliance Scorecard assists teams of all types, including auditors, operations, security, and compliance, in identifying areas where risk exists, as well as providing guidance for acting appropriately to remediate this risk. It provides a way to prove to executives and auditors, through data, the current and historical state of security and compliance. Additionally, the Compliance Scorecard can be used to deliver actionable and understandable data to business units and teams to demonstrate where security posture improvement is necessary and how their security posture is trending.
- Threat Protection. DivvyCloud delivers a unified approach to monitoring and responding to threats to cloud accounts and workloads across multiple clouds, and makes it easy to implement automation that reduces remediation and recovery time. To deliver threat protection, DivvyCloud leverages cloud service provider (CSP) services (e.g. Amazon GuardDuty) for best-in-class intelligent threat detection that continuously monitors for malicious activity and unauthorized behavior. For example, GuardDuty analyzes tens of billions of events across multiple AWS data sources, such as AWS CloudTrail, Amazon VPC Flow Logs, and DNS logs and helps detect activity such as crypto-currency mining, credential compromise behavior, communication with known command-and-control servers, or API calls from known malicious IPs. When a threat is identified, DivvyCloud can perform automated remediation actions including reconfiguring cloud services, making changes to cloud infrastructure, driving human-centered workflows with integration into systems like ServiceNow and Jira, and orchestrating workflow actions in other security and management systems.
Company Growth
Since its founding in 2013, DivvyCloud has experienced immense growth, which has accelerated in recent months. Specific metrics include:
- Two hundred percent YoY revenue growth in the past 18 months
- One hundred percent increase in customer base over the past 18 months, including several new marquee customers such as Twilio, 3M, Autodesk, Pizza Hut, CoStar, and Kroger
- Only one enterprise customer has been lost in the five-year history of the company while annual recurring revenue (ARR) growth from existing customers has been upwards of 30 percent--proof of the immense growing value that DivvyCloud provides to its customers
Strengthened Leadership Team
DivvyCloud has doubled its staff in the past year, including significantly growing its engineering team to continually drive product innovation. Additionally, strategic additions to the company’s leadership team include:
- Scott Totman, vice president of engineering. Totman leads the innovation, development, and delivery of DivvyCloud’s software. Prior to joining DivvyCloud, Totman was the vice president for Capital One’s Digital Products Engineering organization, which builds every digital touchpoint for Capital One customers through web and mobile platforms. Prior to Capital One, Totman worked at AOL running AIM and ICQ, the world’s largest messaging platforms at the time.
- Rick Juneja, vice president of customer success. Juneja is focused on driving adoption of DivvyCloud’s software by demonstrating value and enhancing relationships within the company’s broad customer base. Juneja’s experience as the senior vice president of customer success, professional services and support at OPower (acquired by Oracle) will prove invaluable. During his tenure at OPower, Juneja was a key player in the company’s growth from $27 million to $150 million in ARR.
Accolades
DivvyCloud’s innovation in cloud security continues to receive recognition with wins in well-known industry awards, including:
- Winner in the cloud security category in the 2019 Cybersecurity Excellence Awards
- Recognized as the editor’s choice vendor of the cloud security category in Cyber Defense Magazine’s InfoSec Awards 2019
- Winner of the private and public cloud compliance category in the 2019 Fortress Cyber Security Awards
To learn more about DivvyCloud’s automated cloud security and compliance solution, visit Booth 731 at AWS re:Inforce 2019 from June 25-26 in the Boston Convention and Exhibition Center.
About DivvyCloud
DivvyCloud protects cloud and container environments from misconfigurations, policy violations, threats, and IAM challenges. With automated, real-time remediation, DivvyCloud customers achieve continuous security and compliance, and can fully realize the benefits of cloud and container technology. Freedom is good. Chaos is bad. To learn more: www.divvycloud.com.
