Spectro Cloud completed a $75 million Series C funding round led by Growth Equity at Goldman Sachs Alternatives with participation from existing Spectro Cloud investors.
With organizations of all sizes moving more of their operations to the cloud, a majority are struggling to automate cloud security and mitigate risks, according to the 2023 State of Cloud-Native Security Report, a Palo Alto Networks survey of more than 2,500 C-level executives around the world.
It's one reason why many companies are trying to improve security earlier in the development process, and looking for fewer vendors that can offer more security capabilities.
Here are some of the survey findings:
Cloud Use Has Grown, Along With Security Concerns
The expansion of hybrid work during the pandemic drove organizations to expand their use of clouds by more than 25%. As a result, DevOps teams are being pressed to deliver production code at warp speed — making application security more complex, and putting pressure on security organizations to keep pace.
Most Organizations are Slow to Detect and Respond to Threats
90% of organizations surveyed said they cannot detect, contain and resolve cyber threats within an hour. Bad actors are working just as fast as developers to take advantage of organizations' vulnerabilities. What could go wrong often does go wrong and any cloud asset that is inadvertently exposed to the internet can be compromised within minutes. Detecting threats in real-time represents the new frontier of cloud security.
Teams Don't Understand Their Security Responsibilities
When asked about the challenges of moving to the cloud, respondents' top concerns remained unchanged from the 2020 report: struggles with comprehensive security, compliance, and technical complexity. A large majority (78%) of organizations said they have distributed responsibility for cloud security to individual teams, but almost half (47%) said a majority of their workforce does not understand their security responsibilities.
A Greater Need for Code-to-Cloud Security
As more applications are being built in the cloud using off-the-shelf software, there's a risk that any vulnerability in the development process could compromise an entire application later on. That's why more companies are encouraging a deeper level of engagement between application developers and security tools and teams — with 81% of respondents saying they have embedded security professionals inside their DevOps teams.
"With three out of four organizations deploying new or updated code to production weekly, and almost 40% committing new code daily, no one can afford to overlook the security of cloud workloads," said Ankur Shah, SVP, Prisma Cloud, Palo Alto Networks. "
As cloud adoption and expansion continues, organizations need to adopt a platform approach that secures applications from code to cloud across multicloud environments."
Moving Towards Consolidation
Three quarters of the leaders surveyed say they struggle to identify which security tools are necessary to achieve their objectives. This has led many of them to implement numerous single point solutions — with the average organization using more than 30 security tools, including six to 10 dedicated to cloud security.
The sheer number of security tools makes it difficult for leaders to have in-depth visibility into their entire cloud portfolio.
76% of survey respondents reported that using multiple security tools creates blind spots that affect their ability to prioritize risk and prevent threats.
And 80% said they would benefit from a centralized security solution that sits across all of their cloud accounts and services.
A Clear Path Forward
Despite the upheaval caused by the pandemic, organizations have mostly been able to succeed in their cloud expansions — and organizations that made cloud infrastructure a strategic focus across the business were generally more successful. This makes cloud security a clear enabler of business outcomes.
Of course better security does not guarantee success. But having security under control — consolidating tools and vendors and using proven DevSecOps and security automation strategies — lets development teams do their jobs better and gives organizations the tools they need to succeed.
Industry News
The Cloud Native Computing Foundation® (CNCF®), which builds sustainable ecosystems for cloud native software, has announced significant momentum around cloud native training and certifications with the addition of three new project-centric certifications and a series of new Platform Engineering-specific certifications:
Red Hat announced the latest version of Red Hat OpenShift AI, its artificial intelligence (AI) and machine learning (ML) platform built on Red Hat OpenShift that enables enterprises to create and deliver AI-enabled applications at scale across the hybrid cloud.
Salesforce announced agentic lifecycle management tools to automate Agentforce testing, prototype agents in secure Sandbox environments, and transparently manage usage at scale.
OpenText™ unveiled Cloud Editions (CE) 24.4, presenting a suite of transformative advancements in Business Cloud, AI, and Technology to empower the future of AI-driven knowledge work.
Red Hat announced new capabilities and enhancements for Red Hat Developer Hub, Red Hat’s enterprise-grade developer portal based on the Backstage project.
Pegasystems announced the availability of new AI-driven legacy discovery capabilities in Pega GenAI Blueprint™ to accelerate the daunting task of modernizing legacy systems that hold organizations back.
Tricentis launched enhanced cloud capabilities for its flagship solution, Tricentis Tosca, bringing enterprise-ready end-to-end test automation to the cloud.
Rafay Systems announced new platform advancements that help enterprises and GPU cloud providers deliver developer-friendly consumption workflows for GPU infrastructure.
Apiiro introduced Code-to-Runtime, a new capability using Apiiro’s deep code analysis (DCA) technology to map software architecture and trace all types of software components including APIs, open source software (OSS), and containers to code owners while enriching it with business impact.
Zesty announced the launch of Kompass, its automated Kubernetes optimization platform.
MacStadium announced the launch of Orka Engine, the latest addition to its Orka product line.
Elastic announced its AI ecosystem to help enterprise developers accelerate building and deploying their Retrieval Augmented Generation (RAG) applications.
Red Hat introduced new capabilities and enhancements for Red Hat OpenShift, a hybrid cloud application platform powered by Kubernetes, as well as the technology preview of Red Hat OpenShift Lightspeed.
Traefik Labs announced API Sandbox as a Service to streamline and accelerate mock API development, and Traefik Proxy v3.2.