Orca Security Raises $210M at $1.2B Valuation, Plans Overseas Expansion

Los Angeles-based cybersecurity startup Orca Security announced Tuesday that it raised $210 million in a Series C round led by CapitalG, Alphabet’s independent growth fund.

The latest round follows what has been an outstanding year of growth for Orca. In 2020, the company achieved more than 1,000 percent year-over-year growth. Not only that, but Orca closed out the year with a $55 million Series B in December.

The Series C cements Orca’s status as the Bay Area’s latest cybersecurity unicorn with a valuation of $1.2 billion.

Orca’s cloud-based platform can scan a customer’s assets and provide alerts about potential risks within minutes, according to the company. Orca treats enterprise cloud security as an interconnected web of assets. The company’s platform prioritizes risk based on the severity of underlying security issues and potential business impact.

“Our solution doesn’t just throw a barrage of meaningless alerts at your SOC teams to figure them all out, and it doesn’t require your customers to spend countless hours trying to cobble together a bunch of disparate solutions,” Avi Shua, co-founder and CEO of Orca Security, said in a statement on the company blog.

Orca’s SideScanning tool can be used to detect vulnerabilities, malware, misconfigurations, lateral movement risk, authentication risk and more. SideScanning accomplishes this without the use of agents or per asset integration.

“By creating a security solution that actually works, we are solving a fundamental problem that has been broken since the inception of cloud security,” Shua said. “In the face of increasing threats and rapidly expanding cloud estates, organizations can’t be burdened with installing and maintaining agents and sidecars.”

With the fresh capital, Orca plans to hire. The company is aiming to nearly triple the size of its R&D and sales teams by the end of the year.

Last year, Orca added several new companies to its list of clients including Robinhood, Databricks, Unity and Live Oak Bank.

“Orca Security provides similar capabilities to what agents on boxes do and more, but with no impact on engineering,” Caleb Sima, vice president of information security at Databricks, said in a statement.

The cybersecurity platform also plans on investing the additional capital in expanding overseas. Orca has its sights set on opening new offices in Europe and Australia in the near future.

Orca Security has raised $300 million in venture capital financing to date, according to the company.