Wheelings & Dealings: Elastica Debuts Cloud Application Security Solution and Garners $6.3 Million in Funding

By Laura Stotler

Cloud application security company Elastica has made its debut with a brand new solution and the announcement that it has raised $6.3 million in Series A funding from the Mayfield Fund. The company’s CloudSOC solution secures cloud applications and services for use by companies and their employees.

Elastica also released four new apps on CloudSOC that provide a variety of capabilities. The new apps offer audit for cloud application usage and shadow IT, granular transaction visibility, real-time threat detection, security controls and post-incident forensics analysis.

The CloudSOC offering is based on the premise that traditional Security Operations Centers (SOCs) lack the monitoring, real-time threat detection and controls for their cloud services that they have available for on-premise applications and data. The Elastica solution bridges the gap between on-premise and cloud services and apps, offering comparable levels of monitoring and security.

"We are focused on enabling the Elastic Enterprise, where companies can achieve the business agility, collaborative capabilities and cost efficiencies to effectively compete in today's market,” said Rehan Jalil president and CEO of Elastica. “By harnessing advanced data science and machine learning, our unique solution provides a missing piece to securing cloud services and applications so that this vision of an Elastic Enterprise can become reality."

According to Frank Dickson, industry principal of network security at Frost & Sullivan, enterprises are increasingly out of compliance with reporting standards as they adopt cloud applications and services. Compliance issues arise from the lack of data visibility in SaaS-based applications, which makes the CloudSOC solution a unique fit for organizations moving toward the cloud.

The solution utilizes Elastica’s StreamIQ technology, which leverages machine learning to analyze and secure a variety of cloud applications and services. IT supports both native and browser-based applications for mobile and desktop solutions. New apps for the offering include Audit, which offers instant insights and analytics about cloud services, and Detect, which uses data science algorithms to assign ThreatScore scores in real-time for zeroing in on threats. The Protect app enforces policies on real-time traffic sessions with cloud services, while the Investigate app pursues post-incident investigations and forensic analysis on all cloud apps using all historical data.

Edited by Cassandra Tucker

MSPToday Contributing Editor

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