Caveonix, a Falls Church, Va.-based company automating compliance and security posture management for the hybrid and multi-cloud, raised $7.3m in Series A funding.
The round was led by First In Capital, as well as other early investors in the company.
Founded in October 2017 and funded since inception by cybersecurity veterans Tim Sullivan and Kaus Phaltankar, Caveonix provides digital risk and compliance management solutions for enterprises undergoing digital transformation. A digital risk management platform built for the hybrid cloud, Caveonix RiskForesight™ aims to reduce overall cost of compliance by establishing a uniform Risk Management Control Plane™ that overlays an enterprise’s data centers, private clouds, and public cloud deployments.
The company intends to use the funds to continue expanding in several key areas of product and business development. Caveonix is preparing for the upcoming launch of its new SaaS platform, Caveonix Cloud, within several key markets and partner networks. The Caveonix Cloud suite of modules built on RiskForesight includes Cloud Security Posture Management (CSPM), Cloud Workload Protection Platform (CWPP) support, and integrated Governance Risk and Compliance (GRC). This funding will continue to support the partnerships Caveonix has with AWS, IBM, VMWare and Dell, and help reach more customers in the federal and enterprise markets. The company also intends to increase its sales force, add to the product development and customer service teams, and continue the development and implementation of its marketing strategies.