SUNNYVALE, Calif.--(BUSINESS WIRE)--CloudKnox Security, provider of the only cloud permissions management platform for hybrid and multi-cloud environments, today announced its position at the forefront of the emerging Cloud Infrastructure Entitlement Management (CIEM) market. Defined by global research and advisory leader Gartner in 2020, CIEM describes the next generation of solutions for managing access and enforcing least privilege in the cloud. CloudKnox has brought an enterprise CIEM platform to market that has established itself as a reliable and critical investment among customers, partners, investors and independent industry organizations as the need for continuous protection of cloud resources becomes an imperative.
Recently named a Gartner Cool Vendor in IAM and Fraud Detection, CloudKnox leads the CIEM market with the only enterprise-trusted platform of its kind. As a result, the company has seen an explosion in demand over the past year. The revenue CloudKnox received in the first half of 2020 exceeded 2019 full year revenue by more than 200%, and the company has successfully deployed to Fortune 1000 enterprises across the financial, pharmaceutical, utilities, and technology industries. This comes on the heels of accelerated momentum on multiple fronts for CloudKnox, including recognition as an AWS Security Competency Partner, and winner in both the 2020 Black Unicorn Awards, and 2020 CRN Emerging IT Vendors. Additionally, the company announced strategic partnerships and investments with Wipro and Telstra this year. Such groundswell clearly validates that CloudKnox’s platform delivers the scalability, openness, reliability, and automation needed for permissions management —with capabilities not available in other solutions on the market—to deliver immediate value to global enterprises.
Gartner forecasts that the worldwide public cloud market will grow to a total of $266.5 billion in 2020. The firm also predicts that by 2023, 75% of security failures will result from inadequate management of identities, access, and privileges, up from 50% in 20201. CloudKnox’s platform exceeds the core requirements of a CIEM solution and is best positioned to support the explosion of multi-cloud adoption and reduce the number of future security failures as the market sees further growth. Moving forward, CloudKnox will further support enterprise shifts to automation by innovating leading-edge solutions across three core pillars: authorization management, anomaly detection and response, and compliance.
The CloudKnox platform offers the richest set of APIs, which makes it incredibly easy for enterprises to rapidly integrate into their existing identity management and security infrastructure while ensuring end-to-end automation. CloudKnox has well-established integrations with Splunk, ServiceNow, HashiCorp, Okta and Ping, as well as many other prominent enterprise technology vendors. The CloudKnox Permissions Management platform’s pre-built connectors and integration interfaces enable enterprises to leverage their existing investments in SIEM, IT Service Management (ITSM), Authentication and SSO, Identity Governance and Administration (IGA), Privilege Access Management (PAM) and Infrastructure as Code solutions.
“The adoption of hybrid and multi-cloud infrastructure has dramatically accelerated, making it neither feasible nor scalable for enterprises to manually manage identities and expanding permissions, roles, and resources across cloud operating models,” said Balaji Parimi, Founder and CEO of CloudKnox. “For this reason, enterprises rely on CloudKnox as a trusted partner to automate the creation, monitoring, and enforcement of least privilege policies and to protect their critical cloud resources.”
To learn more about the CloudKnox approach that enables enterprise to enforce a least privilege posture across their hybrid and multi-cloud environments, please visit www.cloudknox.io.
CloudKnox Security is the only cloud security platform built from the ground-up to support the monitoring and management of identities, actions and resources across hybrid and multi-cloud environments using an Activity-based Authorization model. Through an extensible single platform, CloudKnox transforms how organizations implement the principle of least privilege and empowers security teams to proactively address accidental and malicious credential misuse by continuously detecting and mitigating identity risks. CloudKnox is based in Sunnyvale, CA.
1 Gartner, Managing Privileged Access in Cloud Infrastructure, Paul Mezzera, 9 July 2020