Cloud data protection startup Nightfall AI has raised $40 million in new funding to scale its reach, expand its integration and partner ecosystem, develop new products and increase its headcount.
WestBridge Capital led the Series B round. Bain Capital Ventures, Venrock, Pear VC and several individual investors including Ant-Man actor Paul Rudd also participated.
Founded in 2018, Nightfall AI offers a cloud data loss prevention platform designed to enable organizations to discover, classify and protect sensitive data across all of its cloud applications and services. The platform uses machine learning to detect sensitive data with high accuracy across applications and automatically fixes data exposure and hygiene issues without end-user impact.
Nightfall AI argues that with 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, resulting in poor data security hygiene and accidental exposure are growing risk vectors.
“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,” Isaac Madan, co-founder and chief executive officer of Nightfall AI explains. “Traditional data loss prevention solutions have become ineffective and expensive to manage and the category is in dire need of reinvention.”
Features of the platform include invisible, out-of-the-box deployment with integrations including Confluence, Jira, GitHub, Google Drive, Slack and Salesforce with no end-user impact or agents to install. High accuracy detection in the platform prioritizes issues with credentials, secrets, personally identifiable information and protected health information to eliminate alert fatigue.
In-application remediation and data context in Nightfall’s platform result in action on sensitive data at a granular level. Users obtain full context on violations and can automate the response, minimizing overhead.
On the developer side, Nightfall AI data protection, combined with the Nightfall Developer Platform, provides 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 application programming interfaces and software development kits. The company has partnerships with Snyk Ltd., Cribl Inc., Virtru Corp., Hanzo Archivs Inc. and others to expand its partner capabilities by embedding Nightfall’s detection capabilities into their offerings.
Nightfall AI has seen rapid growth, with clients from tech startups to Fortune 100 enterprises in areas such as healthcare, insurance and education. Notable customers include Acquia Inc., Bluecore Inc., Aaron’s Company Inc., Klaviyo Inc. and Eullcian Company LP.
Including the new round, Nightfall AI has raised $60.3 million to date, according to Crunchbase.
Photo: Nightfall AI
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