Nightfall raises $20.3 Million in a round led by Bain Capital Ventures and Venrock Co-Lead Investment.
FREMONT, CA: The IT Industry's first cloud-native data loss prevention platform by Nightfall AI made a debut with the funding worth $20.3 million. The funding round was led by Bain Capital Ventures and Venrock Pear VC along with other participants like Sri Viswanath, CTO of Atlassian, and Kelvin Beachum of the New York Jets. The proceeds from the funding will be utilized to study the scope of the nightfall platform further and continue to expand the reach of the business.
The platform leverages ML and NLP to search, classify, and secure sensitive information across SaaS and data infrastructure, enabling continuous protection for the cloud services like Slack, GitHub, and AWS. Nightfall also assures proactive compliance with several regulatory regimes that include CCPA, GDPR, and HIPAA.
At present, the business-critical data in the enterprise is the main driver for the adoption of cloud systems. This will lead to a security problem relative to data leakage, compliance risk, and exfiltration. The move to the clouds can exacerbate these urgent problems, and frustration with the first-gen vendors, are highly inaccurate.
Chief Technology Officer Rohan Sathe, a founding team member of UberEats, underwent and experienced the problem that Nightfall firsthand. During his term at Uber, Sathe built a backend system to manage petabytes of customer data across a plethora of SaaS and data infrastructure offerings in real-time, helping establish UberEats to $7 billion in revenue and over 200 engineers.
Madan was on the investment squad at Venrock, an early-stage venture capital firm with a famed history in the cybersecurity sector, with recent exits including Cloudflare and Evident.io, dating back to Vontu, Imperva, and CheckPoint.
The team at Nightfall are experienced and possess prior experience at platform techs and cybersecurity companies, such as Uber, Atlassian, Deliveroo, Palo Alto Networks, CrowdStrike, and Akamai.
Nightfall has rapidly scaled up from being among high-tech growth startups and Fortune 500 enterprises as well. Josh Sosnin, CISO of Ellucian, a cloud computing software provider in the higher education industry, applauds Nightfall for helping him to secure Ellucian’s Slack communications for the company’s 3,000-plus employees.
The platform by Nightfall is light years ahead of the market trends in presenting an approach that has high classification efficacy and delivers quantifiable productivity enhancements to security teams. We have come straightforwardly to ask for deployment and automation.