Monad Inc., a cybersecurity startup based in San Francisco, has raised $17 million in a Series A funding round led by Index Ventures.
The round counted with participation from Sequoia Capital, which led Monad’s seed funding round. Thanks to the new investment, Monad’s total funding has reached $19 million, enabling the startup to expand its secure data cloud platform development. Sequoia partner Shaun Maguire and Index Ventures partner Carlos Gonzalez-Cadenas will also join Monad’s board as observers.
The startup is an innovator in the compliance and cybersecurity sector that has emerged from stealth with this round to connect data infrastructure for security tools and data warehouses. It was founded back in May 2020 by security veterans Christian Almenar and Jacolon Walker. to simplify the building of secure applications and workflows. Christian Almenar, Monad CEO, referred to founding the company by saying:
“Customers are often unable to access their security data in the streamlined manner that DevOps and cloud engineering teams need to build their apps quickly while also addressing their most pressing security and compliance challenges. We founded Monad to solve this security data challenge at scale and liberate customers’ security data from siloed tools to make it accessible via any data warehouse of choice.”
The platform enables data connectivity and extraction from essential security tools, transfers to data warehouses, and standardization and diversification of data for accurate insights, making them available in a comprehensive and reproducible way. This approach allows security operations teams to fully utilize all the capabilities of their security toolkit depending on the actual state of the environment. Partner at Index Ventures, Carlos Gonzalez-Cadenas, expressed his trust in Monad’s role in the industry by stating:
“Cybersecurity is fundamental a data management challenge that Monad is poised to solve. Their cloud-native security data platform makes it easy to extract the data from the different security tools already adopted by organizations, integrate it into a clean, connected model and unlock its hidden value. We believe that the Monad team is ready to lead this journey, and we’re pleased to announce that we’re leading their A-round investment and the launch of their platform.”
At present, cybersecurity has become a major challenge for businesses that need to manage data because each security product generates large amounts of data that remain in logs or disconnected databases, and data islands will obscure the view of security operations teams. The cybersecurity startup developed a new schema which it hopes will become a major standard in the industry.