Averlon Comes Out of Stealth Mode With $10M in Funding to Advance AI-Powered Cloud Security

Co-founded by Salesforce and Microsoft Security veterans, Averlon helps enterprises understand, predict, and prevent emerging cloud security and AI threats for every attack surface

REDMOND, WA / ACCESSWIRE / May 23, 2024 / As cyber intrusion insurance premiums double year over year and AI-driven cyberattacks cost U.S. companies an average of $9.48 million per breach, the need for robust cloud security has never been more critical. Averlon, a pioneering cloud security company, has emerged from stealth mode with an $8 million seed funding round aimed at transforming how organizations stay ahead of these emerging threats. This latest investment, which brings the company's total funding to $10.5 million, is led by Voyager Capital with participation from Salesforce Ventures and Outpost Ventures, along with several prominent CISOs and industry leaders.

"As cyberattacks grow more sophisticated, it's critical for companies to anticipate where and how attackers will strike," said Sunil Gottumukkala, CEO and Co-Founder of Averlon, who was formerly the SVP of Cybersecurity at Salesforce. "And yet, the reality is most CISOs don't feel prepared for today's threats. Security teams are bombarded with daily alerts, often leading to a reactive security posture where they are playing catch-up or unsure where to focus. Averlon solves this challenge, providing customers with a holistic way to understand, predict, and prevent cloud security attacks."

Why Averlon?

The scale and ease of AI-driven attacks have outpaced traditional defenses. CISOs and their teams must think like attackers to anticipate how they will breach cloud assets, a task difficult with legacy tools. On average, large enterprises receive over 15,000 alerts monthly, which translates to around 93 alerts per working hour, making it nearly impossible to assess and prioritize risks effectively.

In contrast to traditional tools that inundate teams with reactive alerts, while overlooking the true root cause, Averlon's AI-powered platform pinpoints specific cloud security issues that pave the way for real-world attacks. Customers can seamlessly onboard their cloud environment and, within minutes, get a clear picture of their security risks and where to direct their attention.

"With the rise of AI, attacks are becoming more sophisticated," said Rinki Sethi, CISO of BILL. "To stay ahead and successfully safeguard their organization, CISOs and their teams must learn how to think like attackers and anticipate how they breach cloud assets. Averlon solves this challenge, providing customers with a holistic way to understand, predict, and prevent cloud security attacks."

Turning the Tables on Attackers

Averlon uses AI technology that fuels cyberattacks to counteract them. It provides panoptic visibility of all cloud assets (from network access and connectivity to software and policies), while continuously analyzing vulnerabilities to predict and neutralize attacks. This proactive approach allows teams to see bigger-picture threats and eliminate them with surgical fixes.

"Averlon is a platform built to give CISOs and security teams peace of mind," said Vishal Agarwal, CTO and Co-Founder of Averlon, who was formerly SVP of Security Engineering with Salesforce. "Our AI model provides panoptic visibility, comprehensive attack chain analysis and rapid remediation, all seamlessly integrated."

Cloud security threats continue to increase with AI

Nearly eight in 10 (78%) security professionals estimate their organization's data was breached or compromised in the past 12 months, according to Forrester Research. As more enterprises introduce SaaS and AI-based applications, the risk only gets worse.

"We needed a security solution that could deliver better visibility, predictive insights and prevention of cloud security attacks, while also working seamlessly within our cloud workloads," said Scott Roberts, CISO of UiPath. "Averlon meets this need while also saving our team critical time in our zero-day incident response and remediation."

"The fundamental job of a CISO is risk management. If you live in this world, you have a huge pile of risk and your job is to identify the most effective things you can do, in the shortest period of time, to reduce risk," said Austin Guyette, Partner at Voyager Capital. "Averlon is a powerful platform that allows enterprises to map exactly how an attacker can compromise an environment. By understanding the attacker's view, Averlon gives CISOs and their teams unparalleled ability to prioritize what an attacker can explore or exploit to pinpoint threats, predict attacks, and to mitigate them."

Customers can use Averlon's attack chain analysis to narrow the scope of the investigation and simplify the process of determining the impact, so security teams can move quicker to contain, eradicate, and recover from incidents.

About Averlon:

Averlon's mission is to help enterprises understand, predict, and prevent emerging cloud security threats. Founded by cybersecurity industry veterans with experience building some of the world's largest security solutions, Averlon is designed to provide CISOs and security teams with peace of mind. Averlon provides Panoptic Visibility, Predictive Attack Intelligence and Rapid Remediation, while seamlessly integrating with other security solutions. For more information, please visit https://www.averlon.ai.

Contact Information

David Henderson
Averlon PR
david@storybound.co
425-829-5971

SOURCE: Averlon

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