The new investment was led by Z5 Capital with participation from Uncorrelated Ventures, Samsung Next, Benhamou Global Ventures (BGV) and angel investors Saqib Syed and BV Jagadeesh
Nirmata, the software solutions provider for governance, compliance, security, and automation of production Kubernetes workloads and clusters, and creators of Kyverno, the leading policy engine designed for Kubernetes, today announced it has raised $4.0 million in pre-series A funding to further accelerate the growth of Kyverno. The new investment was led by Z5 Capital with participation from Uncorrelated Ventures, Samsung Next, Benhamou Global Ventures (BGV) and angel investors Saqib Syed and BV Jagadeesh.
This funding builds upon an exceptional year for Nirmata and comes as Kyverno achieved considerable growth punctuated by the increased adoption of open source. Since the beginning of 2021, Kyverno’s adoption quickly soared to over six million downloads, with a growing number of users including Novartis, The New York Times, Duke Energy, TriNet, Grofers and others. It is also used by open source projects like Flux, KubeArmor and others. In May 2021, Nirmata Policy Manager for Kyverno (PMK) was launched to streamline the adoption of Kyverno across multiple clusters as well as facilitate Policy-as-Code best practices by enabling the deployment of Kyverno policies across fleets of clusters using GitOps workflows. With this new investment, the company will scale its product and operations to support the Kyverno community and establish an engineering team in India as well as grow its sales and marketing to accelerate its adoption.
As containers are spun up quickly, the growing demands placed upon developers often leaves a security gap that exposes potential threats and risks in the configuration settings. In 2018 and 2019 exposed breaches caused by cloud misconfigurations resulted in nearly 33.4 billion records in total. According to the Ponemon Institute’s 2019 report, the average cost per lost record globally is $150. Multiplied by the number of records exposed, misconfigurations cost companies worldwide nearly $5 trillion in 2018 and 2019 alone. As enterprises accelerate their adoption of cloud technologies, Nirmata’s Kyverno is providing the essential method with native tools and language to secure containers for enterprises deploying resources in cloud environments.
“Kubernetes gives a lot of flexibility in the way that workloads are deployed. Yet developers may not know 80% of what needs to be configured, nor should they. Kyverno gives users the ability to focus on what matters – their workloads and applications – by aiding the adoption of Kubernetes policies rather than requiring users to learn and adopt new ones,” said Jim Bugwadia, Chief Executive Officer, Nirmata. “We’re at the cutting edge of this innovation and are thrilled to be working with our partners at Z5 Capital, Benhamou Global Ventures, Uncorrelated Ventures, Samsung Next and BV Jagadeesh, Saqib Syed to accelerate the execution of our vision.”
Source: Business World