Ermetic is a cybersecurity startup founded in 2016 to “empower organisations to protect their data better and to be more confident in their security decisions”. The company offers a platform-agnostic, comprehensive solution for vulnerability management, digital asset management, and access control. Ermetic’s products help organisations identify, assess, prioritise, and address the security risks across the digital environment.
Since its launch, Ermetic has grown rapidly and secured several milestones such as securing its first customer in 2017 and closing a $9M Series A round in 2018. In 2020, Ermetic achieved another major milestone when it closed $70M in Series B financing led by existing investors 24 Ahead Ventures and Nauta Capital and new investors DTCP and Work-Bench Ventures. With the funds from this round of funding, Ermetic plans to grow its team of developers and expand its product portfolio into new markets.
The investment is an endorsement of Ermetic’s international potential and recognition of the need for strong cybersecurity solutions. It also signals confidence in the founding team’s ability to scale their operations while continuing to hire top talent across all areas of the business. It will be interesting to see how this added momentum will shape the future of Ermetic as it continues on its mission to build better ways for organisations to secure their data.
Overview of the Series B Round
Ermetic’s recent $70M Series B Round marks a major milestone in the company’s development and future growth. The funding round, led by Insight Partners and joined by existing investors Sequoia and Zetta, will support the company’s continued development and expansion of its cloud security analytics platform.
In this article, we’ll look at what this funding round means for Ermetic and what it means for the company’s future.
Overview of the Investors
The $70M Series B round of funding was led by Redpoint Ventures and Lightspeed Venture Partners, who joined Ermetic’s existing investors, including Sequoia Capital and Accel. These investors bring tremendous expertise in enterprise software, cloud computing, and cybersecurity — all areas where Ermetic is actively developing its technology.
The additional funding allows Ermetic to scale substantially in new markets and broaden its product offerings. Redpoint’s Managing Partner Tomasz Tunguz noted, “Ermetic brings a unique set of technology capabilities to the market that could transform security from being reactive into something much more proactive and preventive.”
This is the first time Redpoint Ventures has invested in a pre-seed stage company, demonstrating their confidence in Ermetic’s product vision. Lightspeed Venture Partner said: “We have been impressed by Ermetic’s execution, progress, and team experience — making this financing round an exciting moment for us to become involved with them as they start to scale globally.”
The strong participation from premier venture capital firms speaks to the enormous momentum behind Ermetic as they continue their journey of providing intelligent identity security solutions specifically designed for business users.
How the Funds Will be Used
The funds from Ermetic’s Series B round will be used to expand the capabilities of its platform and broaden the security offering to include new products, services and partnerships. Specifically, the company intends to use the proceeds to accelerate its growth in enterprise cybersecurity primarily by scaling its operations, further strengthening its workforce, continuing investments into R&D and penetrating deeper into Europe.
Ermetic also has plans for strategic deals and acquisitions which could help them compete in a crowded market space. Moreover, Ermetic plans to support current top partners and extend its network of sales channels. Executive leadership anticipates these investments will accelerate their expansion across broader audiences.
By expanding their product strategy across multiple lines of security offerings, Ermetic hopes to become an even bigger player within the industry in terms of revenue generation and customer base penetration over time. These strategic moves should also help revitalise consumer trust with continued education about new threats and helping organisations understand a more holistic approach for thwarting their adversaries by piecing together best-of-breed security solutions combined with team augmentation assistance from outside consulting firms when needed.
What the Series B Round Means for Ermetic
Ermetic’s $70M Series B round showed that investors are beginning to believe in the company’s vision and mission. The investment will undoubtedly impact the company’s future, and this is what we will be discussing in this article.
We will take a deep dive into the implications of the Series B round, including the potential changes it will bring to the company’s operations and its effect on long-term growth.
Expansion of the Company
The Series B Round marks a major milestone in Ermetic’s journey as an organisation. The fundraising will enable the company to expand its operations and activities, allowing it to take full advantage of the opportunities.
With this new capital infusion, Ermetic can accelerate product development, scale its customer base, and invest in strategic marketing activities to help build brand awareness. The new investments will also fuel the company to increase hiring efforts to extend its world-class support for enterprise customers needing help with data integrity, security and privacy compliance across cloud environments.
Additionally, the Series B Round helps position Ermetic with the necessary resources to further drive adoption of purpose designed solutions that focus on security operations automation. This technology is becoming increasingly important as organisations look toward managing compliance across multiple clouds and on-premise applications while maintaining tight security policies throughout their infrastructure environments.
Ermetic is well-poised for further growth given this recent funding announcement and is set to capitalise on this momentum going forward. The company is excited about what lies ahead as they continue their mission of helping customers secure their cloud environment with automated solutions backed by best-in-class support.
Improved Customer Experience
Ermetic’s success with its new $70M Series B round will ensure the company is well-equipped to deliver an improved customer experience to its users. With these funds, Ermetic can invest further in its machine learning (ML) technology and build out its existing data privacy and analytics products. This enables the company to focus on enhancing customer experiences by leveraging ML data to provide more personalised presentations, faster insights, and ultimately produce more key decision makers that optimise user engagement and retention strategies.
The ML funding will also allow for added resources for Ermetic’s international expansion strategy. By investing in regional teams and specialised technology, the firm can better cater to customers in different countries. In addition, Ermetic provides automated support via machine learning algorithms to improve day-to-day operations such as customer segmentation, automation of routine tasks, and security level definitions related to data privacy compliance processes. Ultimately, this investment speaks directly toward improving the customer experience while offering increased efficiency among teams preparing data security reports and audit documents before submission.
Increased Funding for Research and Development
Ermetic’s $70M Series B round of funding signals the company’s continued commitment to investing in research and development. In addition, this investment will allow Ermetic to further its mission of protecting businesses from cyber threats.
The increased funding will help Ermetic expand its product offerings, build an effective distribution network, and pursue partnerships with key industry players such as CSPs, MSSPs and MSPs. Not only that, but this large Series B investment enables Ermetic to invest more time in developing enhanced product features such as intelligent automation and machine-learning capabilities that enable businesses to identify threats quickly.
Moreover, this additional funding allows Ermetic to continue investing in its engineering teams and strengthens its position in the market as one of the leading security technology providers. It also provides Ermetic with a powerful platform for growth and diversification which should result in greater profitability over time.
Through its Series B round, Ermetic is solidifying its standing as a leader in providing cutting-edge cybersecurity solutions and driving sentiment around increased innovation and adoption within the cybersecurity industry itself. In addition, the company has proven that it is one step ahead of its competition by intelligently utilising available resources to become a force for good — safeguarding valuable commerce data from malicious attackers worldwide.
What Ermetic’s $70M Series B Round Means for the Future of the Company
Ermetic’s recent $70M Series B Round marks an important milestone for the cybersecurity industry. This major investment shows that investors are confident in the company’s future and are willing to back it for the long run.
In this article, we’ll explore what this Series B Round means for the industry as a whole, and what it might indicate for the future of Ermetic.
Increased Competition
The Series B round is an important step for Ermetic as the company will now have additional resources to further promote their product, increase competitive pressure, and bolster market position. This move will lead to increased competition within the industry, because Ermetic can now use the added capital to focus on growing their customer base and conquering more market share. This influx of new capital will likely be used to make key hires, secure strategic partnerships, and invest in innovative technologies and solutions that can help them stand out from their competitors. It could also lead to companies in the same field replicating some of Ermetic’s tactics and solutions or instigating a price war to win customers away from them.
Furthermore, this new funding could allow smaller companies facing increased competition at home or in a specific region to expand their business abroad on a larger scale than was feasible before the Series B investment. As they do so they are likely to capture more customers using quality products that can compete with established industry players like Ermetic. With this newfound success comes stiffer competition which everyone involved should prepare for by staying agile and focusing on delivering positive outcomes for customers above all else.
More Innovative Solutions
The latest Series B Round of funding for the Ermetic Security Platform positions the company as a leader in keeping encrypted data safe from cyber-adversaries. In addition, this successful financing round indicates the potential for growth in this industry, an area upon which investors are eager to capitalise.
Through this $70 million influx, Ermetic can continue supporting its innovative solutions developed to protect sensitive data through advanced encryption and cryptographic access control methods. Organisations increasingly struggle to secure their data as security threats and regulatory measures evolve. Consequently, there is now a larger demand for secure solutions like those offered by Ermetic.
This Series B Round will come as welcome news for companies around the globe seeking advanced security solutions that incorporate sophisticated encryption and access control processes while remaining cost-effective and easy to implement. It also provides crucial investment to finance further R&D efforts in complex data security techniques and improvements of existing security products to keep up with emerging needs and trends in cybersecurity today and into the future.
Improved Security Standards
Completing Ermetic’s $70 million Series B round marks a significant milestone for the company, as it further solidifies its position as a leader in the Privileged Access Management (PAM) market.
The funds will be used to extend Ermetic’s capabilities and continue accelerating development of security solutions to better meet today’s ever-evolving cyber threats. In addition, it is expected that the funding will also help further improve their ability to address their customers’ real-world complex privileged access management needs.
This increased financial backing and long-term commitment from the venture capital firms raise the bar for security standards within the industry. Leveraging this robust R&D investment will support new product development and advanced functionality which comes with improvements on current and upcoming trends related to PAM solutions. Specifically, this means more accessible support for cloud infrastructure, geofencing deployment control, and automated identity revocation technologies focused on increasing security within organisations utilising Ermetic’s solutions. Additionally, this improved level of protection allows customers an easier path towards achieving regulatory compliance such as NIST 800-53 or FedRAMP, ultimately leading to improved risk reduction procedures immediately available to customers who look towards Ermetic for all their privileged access management needs.