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CrowdStrike, CyberArk Invest in Cloud Data Security Company Dig

Dollar Seedling – Growth Concept – Sprout On Banknotes In Increase

Dig, a cloud data security company, has emerged from stealth and received $11 million in seed funding from CrowdStrike (through its Falcon Fund), CyberArk and other investors. Dig will use the funding to bolster its cloud data detection and response (DDR) solution, the company indicated.

Organizations can use Dig's DDR solution to maintain real-time visibility, control and protection of data assets across their cloud environments, the company said. The solution's features include:

  • Context: Provides insights into data and how it moves within an organization, how it is being used and who is accessing it.
  • DDR: Creates a threat model of an organization's data assets and sends an alert any time security violations or suspicious actions are detected.
  • Discovery: Reviews an organization's cloud data and identifies shadow data assets and dangerous data remnants and prints.
  • Governance: Allows an organization create data owner assignments, risk evaluations and alerts on actions based on compliance standards.

Dig's DDR solution can be used to identify data assets across public clouds. It also tracks if a data source supports compliance with SOC2, HIPAA and other standards.

What Does the Future Hold for Dig?

Dig promotes data transparency and improves cloud data security and protection, CrowdStrike CTO Michael Sentonas indicated. It will provide organizations with visibility across their cloud infrastructure and help them address data protection challenges.

Meanwhile, Dig has received support from several prominent investors. In addition to CrowdStrike and CyberArk, Dig's investors include:

  • Tom Killalea, chairman of application data platform provider MongoDB
  • Jeff Fagnan, a member of the board of directors for cybersecurity companies Carbon Black and Veracode
  • Nir Polak, founder of Exabeam, a security information and event management (SIEM) and eXtended detection and response (XDR) platform provider

We'll be watching to see if/when Dig begins partner outreach to MSPs and MSSPs.

CrowdStrike, CyberArk: Venture Capital Funds for Cybersecurity Startups

Both CrowdStrike and CyberArk have been active in the venture capital market. Indeed, the CrowdStrike Falcon Fund has invested in multiple cybersecurity startups that have MSP and MSSP go-to-market business models.

Meanwhile, CyberArk launched a $30 million VC fund in May. Investments beyond Dig include Enso Security for application security posture management (ASPM); and Zero Networks for identity-based microsegmentation services.

Further down the road, watch for more venture capital news or investment milestones to potentially surface at the CyberArk Impact 2022 conference in July, and the CrowdStrike Fal.con 2022 conference in September.

Dan Kobialka

Dan Kobialka is senior contributing editor, MSSP Alert and ChannelE2E. He covers IT security, IT service provider business strategies and partner programs. Dan holds a M.A. in Print and Multimedia Journalism from Emerson College and a B.A. in English from Bridgewater State University. In his free time, Dan enjoys jogging, traveling, playing sports, touring breweries and watching football.