A startup that has developed a platform which responds to data breaches in workplace apps like Slack, Zoom, and Google Drive raised$30 million in its Series B funding round, led by VC firm InsightPartners.
New York City-based DoControl is an automated data control platform and monitoring service for workplace-integrated software.DoControl was founded in 2020, emerging on the enterprise software scene with a $10 million Series A led by RTP Global. It has several dozen clients across the Americas and EMEA regions.
Many firms rely extensively on Software-as-a-Service (SaaS)applications – like Slack, Dropbox, or Google Drive – for file sharing, where they can encounter several cybersecurity risks. DoControl cites departing employees, third-party vendors, and external attackers as three of the major threats to data security.
The workplace messaging application Slack, for example, allows users to create messaging channels, which are public to a company's employees by default. Data retention on Slack is also automatically set to the work space's lifetime, requiring employers to alter data retention settings to have an automatic deletion date.
AWS keys, credentials for employees to access SaaS apps, can be weaponized by attackers to access an individual's account, and from then a workplace's AWS environment.
DoControl's founder and CEO Adam Gavish says that DoControl's no-code security controls would have prevented a recent data breach of workplace software Okta, which brought infiltrators access to internal networks of 366 corporate customers. "DoControl's data access policies would have prevented AWS keys from being exchanged overSlack channels," according to Gavish.
DoControl's plans for global growth involve strengthening its presence in the European and Middle Eastern markets and establishing an Asian-Pacific presence. The startup is also planning to scale its R&D, customer support, sales, marketing, and operations teams, with the goal of doubling employee headcount.
The latest funding round backed by Insight Partners had participation from its existing investors including StageOneVentures, RTP Global, and the CrowdStrike Falcon Fund.
Check out the 25-slide pitch deck DoControl used to raise the fresh funds below: