As Seemple as an Investment can Get
The best kind of innovation is one that speaks for itself. One that creates an “Aha” moment the second you hear the gist of it: “How come no one has thought of this before?”
This was exactly what went through our minds when we first met the founders of Seemplicity, a new Glilot Capital portfolio company, which came out of stealth today. Seemplicity announced $32M in funding, with a recent $26M Series A funding led by Glilot+, our early-growth fund.
Wake up and smell the spreadsheet
Today’s threat detection and response tools are exploding with findings. SIEM and SOAR solutions, which have emerged over the past decade, help manage and address live security events and escalate those to security teams and SOCs with prioritization and automation in mind. But over the last few years a growing number of security tools have focused on the importance of early vulnerability detection, security posture management, and risk reduction processes, as a way to eliminate threats before a security breach happens.
Security findings like cloud misconfigurations, various vulnerabilities, and AppSec bugs that have yet to develop into a live event must often be addressed by IT, R&D or DevOps teams outside the authority of the CISO and his crew. With the exponential growth in disparate security systems and the talent shortage, CISOs, who still mostly use excel to manage their non-live security tasks, find it ever more difficult to manage the load.
So when we came across Seemplicity’s risk reduction and productivity platform, we realized the huge potential it holds in addressing this fundamental problem. Put simply, Seemplicity connects security findings with those who can fix them in the organization, creating a direct communication bridge. It aggregates, normalizes, and orchestrates findings from multiple siloed security tools into a unified platform to generate a single consistent security backlog. Next, translating these findings into concrete fix tasks, Seemplicity automatically identifies the correct remediation teams with the org and pushes new action items into their various ticketing systems with the right priority. Seemplicity thus streamlines handovers between teams and synchronizes all stakeholders, including security, developers, DevOps, and cloud engineers, allowing security teams to focus on live events while delegating everything else.
Unprecedented feedback from CISOs
All of that sounded great in theory, but we made our investment quickly once we spoke with our network of CISOs, some of whom were already happy Seemplicity customers. The feedback was consistently ecstatic. It was obvious that Seemplicity managed to eliminate a security management bottleneck by offering a tangible, ROI-based solution that provides more than just visibility. We learned that Seemplicity cut time wasted on manual operations by as much as 80% and increased remediation throughput by 6X – from 60-70 days to remediation down to 10 in some cases. The security and financial value was crystal clear, and we could see how Seemplicity was on a path to create a whole new solution segment for DevSecOps.
Why Glilot? Why Now?
As a VC, Glilot chooses to invest in exceptional founders who strive to build big companies and are not just looking for a quick win. Therefore investing in Seemplicity’s team of serial entrepreneurs was made even simpler when we realized the team was here for the long run. Founders Yoran Sirkis, Ravid Circus, and Rotem Cohen Gadol, three cybersecurity veterans with hands-on experience in building security programs and developing data-driven software, created the platform they wished they had as security leaders, and are on a journey to provide that solution to every security team out there.
In the context of our early growth fund Glilot+, Seemplicity ticked all the boxes: an innovative B2B software solution in our core sectors of cybersecurity and DevOps, with tangible proof of product-market fit and solid traction from early adopters. This was a company that could enjoy the full power of our Advisory Network of B2B software leaders and GTM growth experts.
We were also very impressed with the strong syndicate of joining VCs and angel investors, including NTT Ventures, Atlantic Bridge, S Capital (who led the seed round), and Rain Capital, as well as renowned cyber security investors such as René Bonvanie (former Palo Alto Networks), Tom Banahan (Tenaya Capital), Mark Smith (former Juniper, Infoblox and Arista), Elad Yoran (Security Growth Partners), and Kevin Mahaffey (Lookout).
Personally, I believe that Seemplicity’s platform is one to become a must-have for any software-developing company, bearing even minimal security efforts. We are thrilled to join the company on its journey for hyperscale growth – a new space is emerging for tools boosting security teams’ efficiency and productivity, and Seemplicity is going to lead it.