Congrats to the entire team at Kiteworks. On August 14th, they announced an impressive $456 million financing at a $1B + valuation to help secure the flow of sensitive business data. This achievement is not just representative of Kiteworks' continued progress – rising from the ashes of a devastating cyber attack in 2021 – but it’s also a clear indicator of the growing importance of data-centric security as a key component of every CISO’s cyber strategy.
The Rising Tide of Data-Centric Security
Kiteworks' success underscores a critical point that we at Virtru have long advocated: data-centric security is not just about protecting data stored in the cloud or on premises. It's equally crucial to safeguard the massive amounts of sensitive unstructured data that organizations intentionally share via email, file transfers, and application workflows. This holistic approach to data protection is becoming increasingly vital as organizations grapple with the complexities of securing data in motion.
A Larger Strategic Shift in Cybersecurity
While Kiteworks' financing is undoubtedly newsworthy, there's an even larger and more strategic story unfolding here. We're witnessing a monumental shift in cybersecurity architecture – a transformation where policy and access controls are moving away from the traditional perimeter and closer to the data itself.
This paradigm shift is reminiscent of how Kubernetes catalyzed a tectonic shift in application architecture, ushering in the era of microservices. In a similar vein, open standards like the Trusted Data Format (TDF) are catalyzing a parallel shift in security architecture, introducing what we call the era of "micro-security."
Just as microservices revolutionized application development, micro-security represents a fundamental change in how organizations approach data protection. This shift has far-reaching implications for the entire cybersecurity landscape, enabling more granular, flexible, and effective protection of sensitive data.
Virtru's Position in the Changing Landscape
At Virtru, we're excited to be at the forefront of this transformation. We've been innovating on the TDF open standard, which allows for the implementation of granular policy and access controls on sensitive data that is intentionally shared in the course of business operations. Our solutions are designed to meet the needs of organizations of all sizes who are seeking affordable, easy-to-deploy, and user-friendly tools that seamlessly work with their existing applications to secure their data sharing processes. We believe that effective data protection must be granular in nature – and it shouldn't come at the cost of operational efficiency or user experience.
As we move forward in this new era of data-centric security, Virtru remains committed to delivering value to our customers through continuous innovation. We're dedicated to empowering organizations to maintain control over their data, even as it moves beyond traditional security perimeters.
The cybersecurity landscape is evolving rapidly, and events like Kiteworks' successful funding round only serve to highlight the growing recognition of the importance of data-centric security. At Virtru, we're proud to be part of this evolution, and we look forward to continuing our work in shaping a future where data remains secure, even after it’s been shared with others, and no matter where it travels!
