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BENGALURU: Coralogix, an Israel-based technology company, has launched a cyber security venture in India focussed on securing cloud-native companies against growing cyber threats in a quick, efficient, and cost-effective manner. India and Israel will be the initial focus markets given its large existing customer base and the growing base of cloud-native businesses.
Led by tech veterans and former Amazon Web Services (AWS) executives Navdeep Manaktala and Zack Barak, the cyber security venture called Snowbit will have operations across Tel Aviv and New Delhi/Gurgaon to leverage the best of Israeli cyber security talent and India’s unique position to become the global cyber security hub of the world.
Snowbit’s platform scans the entire cloud environment for abnormal activities and automates threat detection and incident response leveraging “machine learning, an extensive set of pre-configured rules, alerts & dashboards, and support for integration with any orchestration platform," Coralogix said in a statement.
Snowbit will support multi-cloud infrastructure and software-as-a-service (SaaS) environments. It will also allow Indian customers the unique advantage to be able to process and retain data within the country at all times thereby remaining compliant with applicable data localisation norms.
“Rapidly accelerating cyberthreats are leaving many organizations exposed and unable to effectively deal with security challenges as they arise," said Navdeep Manaktala, cofounder, Snowbit and president – APJ, Coralogix. “Snowbit aims to address fundamental security-related challenges faced today including growing cloud complexity, increasing sophistication of attacks, lack of in-house cybersecurity expertise, and the overhead of managing multiple point security solutions."
As per government data presented in the parliament, nearly 1.16 million cases of cyber-attacks in India were reported in 2020, marking an average of 3,137 cyber security issues reported every day of the year.
In July 2021, Coralogix raised $55 million in a Series C funding round led by Greenfield Partners, bringing the company’s total amount raised to $96 million. A significant portion of the funds raised would be dedicated to pursue its strategic five-year growth plan for the India market.
