SA国际传媒

Los Angeles-based cloud security provider has landed a $210 million Series C; giving it a $1.2 billion valuation and lifting the company鈥檚 total amount of funding raised in the last 10 months to $285 million.

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The new round was led by growth fund, , and .

The Series C comes just more than three months after closing a $55 million Series B, and 10 months after closing its Series A.

, Orca鈥檚 co-founder and CEO, said raising the Series C so close to its previous round is simply a case of the company seeing an exploding market and wanting to take advantage of a 鈥渦nique opportunity,鈥� as more companies look for security tools to keep assets safe in the cloud.

鈥淚t’s only been a few months (since the Series B), but a lot has happened,鈥� he said. 鈥淓veryone is moving to the cloud. We just need to go faster.鈥�

Guarding the cloud

Orca鈥檚 cloud-native solution reads a company鈥檚 cloud configuration and can detect malware, misconfigurations and other vulnerabilities. The platform is compatible with major public clouds like , and .

Cloud security has become a hot commodity as more enterprises move to the cloud 鈥� especially during the pandemic when workforces became more dispersed and therefore susceptible to attacks.

鈥淭here is a realization that security is paramount,鈥� said , general partner at CapitalG. 鈥淓specially with companies recognizing the old tools just won鈥檛 work in the cloud.鈥�

The company finished last year beating its aggressive forecast with growth of more than 1,000 percent, Shua said. Orca also grew its staff in the last year from 20 people to now more than 90, he added.

Even with that growth, Orca had barely touched the money from the previous round. Now with the larger warchest the company can go even faster, Shua said.

Orca plans to expand the verticals it sells into and also expand internationals; reaching further into both Europe and Asia Pacific, he added.

Big money

Although Orca has raised large sums of cash, other cybersecurity players have spent significant money to compete in the cloud space. Cybersecurity giant bought for $173 million in 2018 and followed that with acquiring for $410 million and for an undisclosed amount last year. Last April, bought cloud security posture management company for about $145 million.

Shua said unlike those companies that have bolted-on solutions to sell into the market, Orca was built for the cloud and customers will be able to see the difference.

Frantz said he sees Orca鈥檚 market as perhaps the largest in all of cybersecurity and has no doubt what could be in the company鈥檚 future.

鈥淭he market is so large,鈥� he said. 鈥淥rca could not (introduce any) new products and still be a large public company. It鈥檚 that big.鈥�

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