With $3.3M in Seed Funding, Paladin Cloud Launches to Holistically Improve Cloud Security

Open source, Security-as-Code platform to help developers and security teams significantly reduce risks while improving their overall cloud security posture

PISCATAWAY, N.J., July 11, 2022 (GLOBE NEWSWIRE) -- Paladin Cloud, the cloud native, open source security company, today announced a $3.3 million seed financing round led by Okapi Venture Capital and Bowery Capital, with participation from SaaS Ventures, Touchdown Ventures, Samsung Next, T-Mobile Ventures and UST. The Security-as-Code platform uses an extensible policy management plane to holistically improve cloud security for developers and security teams, and is now available to the general public covering AWS, Microsoft Azure, and Google Cloud. 

Co-Founders Daniel Deeney (CEO) and Steve Hull (CTO) launched the company to help businesses identify and eliminate misconfigurations and reduce security risks in their cloud environments. Hull is the original creator of the PacBot open source community, and the two have developed a broader vision to leverage the power of open source to engage the developer community with a modern security framework that includes an open architecture to connect into a wide variety of cloud-based enterprise systems, such as Kubernetes, container scanning, API gateways and threat intelligence. The open source platform contains hundreds of best practice security policies while providing authoring capabilities to build custom policies and rules. The platform’s key features and functionality include self-healing auto-fixes and role-based access control (RBAC), to drive automated workflow and remediation.  

“We launched the company to change the security paradigm for developers and security teams by providing a holistic approach to cloud security through a modern open source platform that functions as a policy management plane across multi-cloud and enterprise systems,” said Daniel Deeney, Co-Founder and CEO. “Our vision for the open source community is to provide developers a powerful platform with visibility into their cloud environments to identify key risks and protect their applications,” noted Steve Hull, Co-Founder and CTO.

Paladin Cloud supports developers in their cloud native journey by helping them identify blind spots in their cloud environments to protect their applications and data. The single pane of glass policy management plane provides visibility into cloud assets through real-time, continuous monitoring to quickly identify and remediate security risks. For security teams, Paladin Cloud’s powerful visualization and compliance reporting provides actionable intelligence and context to help prioritize the events that matter.  

Until now, businesses have relied on manual automation, are dependent on costly, closed source solutions, or are constrained by the knowledge required to integrate various open source tools. As cloud configurations become more complex and dynamic in nature, misconfiguration of cloud resources has become a top security issue. To address these challenges for developers and security teams, Paladin Cloud provides a robust, enterprise grade, open source platform for cloud security and governance.

Its key features include:

  • Modern, cloud-based UI management dashboard with actionable intelligence and context
  • Hundreds of best practice security policies across AWS, Azure and Google Cloud
  • Extensible policy management plane to connect into cloud-based, enterprise systems 
  • Plug & play connector-based (agentless) architecture and policy authoring capabilities  
  • Severity-based prioritization of policy violations to drive automated workflows
  • Self healing remediation which includes one-click fixes and auto-fixes
  • Custom asset groups and policies by business segment and geography
  • Role based access control (RBAC)

Paladin Cloud’s open source product is free to download and use at GitHub. The company supports its users through its Slack and Gitter channels. If developers and security teams require an enhanced level of support with service level agreements, the company offers annual support contracts.   Paladin Cloud is excited to be a proud member of the CNCF community.

“Given the evolution of the cloud and the ever increasing complexities associated with protecting it, we are very excited to be able to work with Paladin Cloud and believe their cloud security policy management expertise, solution architecture, and open source approach will quickly make them the market leader and preferred choice among enterprises worldwide,” said Marc Averitt, Co-Founder and Managing Director, Okapi Venture Capital. 

"Remote work has become a forcing function for digital transformation, leaving many larger enterprises exposed when it comes to cloud security. Paladin Cloud is the easiest open-source option for cloud security policy management today and we believe the company is well-positioned to meet enterprises at the developer level with the tools they need to build and deploy securely," noted Loren Straub, General Partner, Bowery Capital.

About Paladin Cloud
Paladin Cloud is a rapidly growing, open source, cloud security company with a Security-as-Code platform that helps developers and security teams significantly reduce risks in cloud environments to protect their applications and data.  The company’s holistic approach to cloud security is based on its policy management plane that leverages best practice security policies in an open, connector-based architecture.  Paladin Cloud is backed by Okapi Venture Capital, Bowery Capital, SaaS Ventures, Touchdown Ventures, Samsung Next, T-Mobile Ventures and UST.  For more information, please visit www.paladincloud.io or connect with us at LinkedIn, Twitter.

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