Temasek leads Orca Security’s US$550M extended series C fund-raising round

U.S. one-dollar currency notes; taken September 2018.U.S. one-dollar currency notes; taken September 2018.

Temasek Holdings led Orca Security’s US$550 million extended series C fund-raising round, with the proceeds aimed at helping the cloud security company expand globally, the company said in a press release Tuesday.

The round boosted Ocra Security’s valuation to US$1.8 billion, a 50 percent increase over the past seven months, the statement said.

Other investors in the round included venture capital firms CapitalG, which is Alphabet’s independent growth fund, Redpoint Ventures, GGV, ICONIQ Capital, Lone Pine Capital, Stripes, Adams Street Partners, Willoughby Capital, and Harmony Partners, the statement said. SAIC and Splunk Ventures also made strategic investments, the statement said.

U.S. federal contractor SAIC‘s investment and strategic partnership will position Orca Security as their leading cloud-native application protection platform (CNAPP) provider for digital transformation initiatives in their federal business portfolio, the statement said.

Sanjay Sardar, senior vice president for digital at SAIC, said working with Orca Security would “enhance our cloud security services and CloudScend suite, detecting vulnerabilities across customer cloud estates and resolving critical issues at speed and scale for federal government customers.”

Ocra Security said Splunk Ventures’ investment, strategic partnership and technical integration would enhance the company’s role as a cloud security provider, noting the company already serves key customers in the sector, including BeyondTrust, Hunters, Very Good Security and BigID.

Varoon Bhagat, vice president of corporate development for Splunk, said, “Our investment and technical integration with Orca Security underscores Splunk’s commitment to helping organizations investigate, correlate, and visualize their data to identify possible compromise and quickly take necessary action.”

Orca Security said it would also be able to leverage on Temasek’s investment portfolio and network to expand in the Asia Pacific region, and into industries such as telecom, financial services, transportation and consumer goods. The company plans to move more than a dozen employees in Asia Pacific by the end of this year, the statement said.

In addition, Orca Security plans to expand its footprint in the U.K. and in EMEA, or Europe, Middle East and Africa, with a physical office set to open in London along with a new research and development center, its first outside Tel Aviv, the statement said, adding more than two dozen employees are expected to be working in London by year-end.

Orca Security’s technology collects data from cloud provider APIs and the workload’s runtime block storage out-of-band, and then surfaces attack signals for the most serious risks, such as vulnerabilities, malware, misconfigurations, weak and leaked passwords and lateral movement risk, the statement said.

The investment marks another foray by Temasek into cybersecurity.

In July, ISTARI, a global cybersecurity platform founded in 2020 by Temasek, has become a “significant minority shareholder” of security data science company Prevalent AI (PAI).