Companies operating in the cloud are increasingly viewing cybersecurity as a data problem. At Snowflake, a growing number of customers, including Cisco, Prologis and Comcast, are using our platform as a security data lake, taking advantage of a single source of truth to identify threats and risks. To continue expanding cybersecurity in the Data Cloud, Snowflake Ventures has made an investment in Lacework, a security and compliance platform for the cloud generation, powered by Snowflake.
Snowflake has served as the data platform for Lacework’s solution as it scaled up from an exciting startup to an industry leader. Lacework is part of a rapidly expanding cybersecurity market which is expected to reach $300 billion by 2024, up from $120 billion in 2017 as enterprises look to strengthen their defenses against cyber threats. The cloud-native solution generates event logs, anomaly alerts and compliance findings from servers, containers, users, Kubernetes, and cloud accounts running in multi-cloud environments. With a unified console for security and DevOps teams, together with its patented Polygraph baseline technology, Lacework can drive down costs and risk for enterprises.
Lacework’s domain expertise in understanding cloud changes at scale compliments our recent investment in Hunters.AI, an Extended Detection and Response (XDR) company. Together, these companies further enable our customers to leverage Snowflake as their security data lake. They fuel a stronger ecosystem of security-focused partners that our customers can benefit from, and our investments demonstrate our commitment to choice, access to data, and data services through the Data Cloud. It will help enhance Snowflake’s value as a security data lake for customers and further strengthen the powerful network effects of Snowflake’s Data Cloud.
Snowflake is also one of Lacework’s most longstanding customers. Over the years, we have gained strong conviction in Lacework’s technology, its value to the Snowflake ecosystem, and shared commitment to building a single source of truth for companies’ data. Together, we look forward to helping customers achieve better cloud security through the power of the Data Cloud.
For more information on our investment focus, visit the Snowflake Ventures website, here.