UPDATED 09:00 EDT / AUGUST 15 2018

CLOUD

Container security startup Twistlock raises $33M in biggest-yet funding round

Container security startup Twistlock Ltd. is gaining more traction in the enterprise if the latest news of its new funding round can be seen as a yardstick measuring its success.

The company today said it has landed its biggest investment yet in a $33 million Series C round of funding that surpasses all of its previous investments to date, bringing its total capital raised to $63 million.

ICONIQ Capital led the latest round, with participation from existing investors including YL Ventures, TenEleven, Rally Ventures, Polaris Partners and Dell Technologies Capital.

Twistlock is a three-year-old security startup focused on software containers, which are popular with developers because they allow for their applications to be built just once and run on any operating system. The company sells software that’s used to detect vulnerabilities in container deployments, placing a particular emphasis on spotting operational problems that violate compliance rules.

The round follows some significant updates to Twistlock’s platform announced this year. In January the company said it was adding vulnerability management for serverless functions, which are growing in popularity among enterprises because it allows them to offload the provisioning, management and maintenance of cloud servers.

The company also updated its Runtime Defense feature this year, which uses machine learning-generated app models to provide automatic protection against attacks. The update introduced new heuristics for attack scenarios observed in the wild, so it can protect its customers from these known attacks.

Just this month, Twistlock released version 2.5 of its platform, adding protection for container-as-a-service platforms such as AWS Fargate and also new cloud forensics capabilities.

The company credited the new capabilities for its ability to grow its customer base at a rate of 350 percent each year. It now counts a quarter of the Fortune 500 as customers, but it doesn’t want to stop there. The company said it plans to use the new funds its received to continue scaling its operations and add even more customers.

“We’re going to keep doing the things that work,” said Twistlock co-founder and Chief Executive Ben Bernstein.

Twistlock does have a few new features in the pipeline too, though Bernstein refused to be drawn in on the specifics other than to say the company would focus on enhancements to existing integrations and support for more cloud-native services.

Image: Twistlock

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