Nightfall AI, the industry’s leading cloud data loss prevention platform, announced it has closed $40M in Series B funding. This new round was led by WestBridge Capital, with participation from Next Play Capital and existing investors Bain Capital Ventures, Venrock, Pear VC, and several professional athletes and influencers including Paul Rudd, Drew Brees, and Josh Childress. As fans of the product, multiple CISOs and security professionals invested in the round as well.
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Organizations today manage high volumes of sensitive data, spanning credentials and passwords, PII, protected health information, and much more. Given the sheer volume of data and the rapid growth in the number of cloud applications in the enterprise, data sprawl is pervasive, and getting worse. The shift to a hybrid workplace has eroded the traditional perimeter, and organizations must focus on applications and services in their environment that house sensitive data – their crown jewels. Recent data breaches have proven that poor data security hygiene and accidental exposure are growing risk vectors.
Without an automated solution, monitoring these data silos today is an extremely manual and time-consuming process. “Legacy solutions aren’t designed for the cloud and don’t interface natively with modern applications, and as a result, they deliver low accuracy, incomplete coverage, and limited actionability for resource-constrained security teams. Traditional data loss prevention solutions have become ineffective and expensive to manage, and the category is in dire need of reinvention,” said Isaac Madan, co-founder and chief executive officer.
Nightfall uses machine learning to detect sensitive data with high accuracy, across applications like Slack, Salesforce, Atlassian, and GitHub, and automatically fixes data exposure and hygiene issues without end-user impact. Nightfall has a comprehensive SaaS data protection platform, as well as the Nightfall Developer Platform, an open, flexible platform for developers to integrate Nightfall’s data classification and protection capabilities anywhere. The Platform delivers Nightfall’s detection engine as a set of cloud-hosted APIs and SDKs. The company has also launched partnerships with Snyk, Cribl, Virtru, Hanzo, and more to expand its partner capabilities by embedding Nightfall’s detection capabilities into their offerings.