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DoControl, which today announced raising a $30 million series B round, said the funding will go toward accelerating the market expansion for its automated software-as-a-service (SaaS) security platform — which is already used by customers including cybersecurity firms such as CrowdStrike, Devo and Armis.
The platform stands out with capabilities such as automated workflows that “can be triggered using any SaaS event — which makes our solution the most granular in the SaaS security industry,” said Adam Gavish, cofounder and CEO at DoControl, in an email to VentureBeat.
According to a recent report from Productiv, the average company now uses 254 SaaS apps — and enterprises are even higher, with 364 SaaS apps being used on average. But while many businesses are increasingly relying on SaaS for sharing data, “the problem is that these shared files usually remain shared and accessible forever — thus overexposing your company to multiple security threats and increasing the likelihood of data loss over time,” Gavish said.
DoControl’s platform, which entered general availability in August 2021, addresses the issue with automation, he said. The platform provides the ability to trigger automated workflows to revoke data access over time, across different internal groups and external collaborators; quickly remediate data exposure “with a few clicks”; and perform security investigations using SaaS metadata inventory, according to Gavish.
Along with the ability to trigger workflows with any SaaS event, the workflows can also be conditioned “based on any of the event metadata — so you can narrow down the scope to solve any business use case,” he said.
Meanwhile, DoControl performs classification of personally identifiable information (PII) “on the fly” — as part of an automated workflow — “so that the PII findings are associated with clear business context to avoid alert fatigue,” Gavish said.
The DoControl platform currently integrates with SaaS applications from Microsoft (Teams, SharePoint and OneDrive) as well as Google Drive, Salesforce, Slack, Dropbox, Box, Okta and GitHub.
Among the startup’s goals for the new funding is to add integrations with more SaaS applications, including Jira, Zoom, Monday and Workday.
DoControl is also looking to grow its customer base, which currently consists of more than 30 customers. In addition to CrowdStrike, Devo and Armis, other named customers include IronNet, Minted, BigPanda, Sisense, Similarweb, Papaya Global, Crossbeam and Snappy.
To help drive sales, the company intends to use some of the new funding to roll out channel and other partnership programs, according to Gavish.
New York-based DoControl currently employs 47, and expects to reach 70 employees by the end of the year.
The series B round was led by Insight Partners. Existing investors — RTP Global, StageOne Ventures, Cardumen Capital the CrowdStrike Falcon Fund — also participated. DoControl has now raised a total of $45 million in funding since its launch in 2020.
Along with Gavish, formerly a product manager at Google Cloud, DoControl’s founders are chief revenue officer Omri Weinberg (formerly a general manager at SafeDK) and CTO Liel Ran (previously a software and cloud architect at Amenity Analytics).
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