Monad, Inc., a security data cloud developer, has raised $17 million in a Series A round of funding. Index Ventures led the investment, which also included Sequoia Capital and was helmed by security veterans Christian Almenar and Jacolon Walker. The Monad platform makes it easy to construct security apps and compliance procedures by allowing clients to connect data from numerous security technologies into any data warehouse.
The latest capital, which makes the total financing $19 million, comes 12 months after the Sequoia-led seed round and allows the firm to extend its security data cloud platform development initiatives. Shaun Maguire, a partner at Sequoia Capital, and Carlos Gonzalez-Cadenas, a partner at Index Ventures, will join the Monad board of directors as board observers.
“Security is fundamentally a big data problem,” said Christian Almenar, CEO and co-founder of Monad. “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. We’re excited to partner with such an experienced team of investors as we look to accelerate the use of our data security cloud platform and deliver it to companies of all sizes.”
The Monad platform allows teams to collect and connect data from critical security technologies, centralize that data in a data warehouse of choice, and standardize and improve data so that security teams have the detailed insights they need to properly secure their systems and data. Monad makes these security insights accessible, accurate, thorough, and repeatable. Monad also enables security operations teams to make better use of their security tool sets’ full capabilities based on the current state of their environment.
“There are more security tools than ever, but because of the complexity of the environments and the siloed nature of the different security tools, breaches continue to happen. Cybersecurity is fundamentally 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,” said Carlos Gonzalez-Cadenas, partner at Index Ventures.
“Most Fortune 500 companies have hundreds of security vendors, which makes centralizing and operationalizing data from these applications a daunting challenge. Monad solves this problem at scale by connecting data from various security tools and providing precise insights to security teams. Christian and Jacolon have made significant traction since the seed and we’re thrilled to double down as they take on a massive market opportunity,” said Shaun Maguire, partner at Sequoia.
“Innovations in data analytics are transforming departments across the enterprise but cybersecurity has been largely left behind. I regularly speak with security teams that rely on log management tools for threat detection, incident response, compliance automation and security metrics but remain held back by visibility challenges and lack of automation. It’s exciting to see how easy Monad makes it for security analysts to join the rest of the company on Snowflake. Now, InfoSec and DevOps teams can build data-driven security and compliance applications limited only by their imagination,” said Omer Singer, Head of Cybersecurity Strategy at Snowflake.