{"id":13844,"date":"2019-08-01T17:35:45","date_gmt":"2019-08-01T17:35:45","guid":{"rendered":"https:\/\/blog.tmcnet.com\/blog\/rich-tehrani\/?p=13844"},"modified":"2022-10-14T18:28:34","modified_gmt":"2022-10-14T22:28:34","slug":"altitude-networks-gets-9m-for-cloud-collaboration-security-platform","status":"publish","type":"post","link":"https:\/\/blog.tmcnet.com\/blog\/rich-tehrani\/security\/altitude-networks-gets-9m-for-cloud-collaboration-security-platform.html","title":{"rendered":"Altitude Networks Gets $9M For Cloud Collaboration Security Platform"},"content":{"rendered":"\n

In what may be the most ironic timing in the history of cybersecurity and funding, Altitude Networks<\/a>, the cloud collaboration security platform, today announced it has officially launched with the close of\u00a0$9 million\u00a0in series A funding. The round was led by\u00a0Felicis Ventures\u00a0with participation from\u00a0Slack Fund, previous investor\u00a0Accomplice, and a personal investment from\u00a0Alex Stamos. Aydin Senkut, founder and managing director of Felicis, will join the board. The capital will be used to fund the company’s growth and customer acquisition strategies. <\/p>\n\n\n\n

Here comes the irony: Altitude Networks was co-founded by\u00a0Michael Coates\u00a0and\u00a0Amir Kavousian. Coates is a 15-year veteran of the security industry and former CISO of Twitter, head of security for Mozilla and chairman of OWASP. Before founding Altitude, Kavousian was a lead data scientist at Capital One, where his experience in machine learning was used to create fraud detection platforms.
If you missed it – the issue is Capital One suffered one of the largest bank breaches in history – we broke the news recently<\/a>.<\/p>\n\n\n\n

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The fascinating part of this funding news is the Capital One breach shows just how screwed up the state of cloud security is.<\/p>\n\n\n\n

Companies have a false sense of security about cloud – like some sort of cloud deity watches over your data for you. Perhaps they think Jeff Bezos is monitoring their precious databases. <\/p>Rich Tehrani, Visionary, Tech Expert<\/cite><\/blockquote>\n\n\n\n

Out of sight and out of mind is a major problem for companies – many have failed to realize this problem.<\/p>\n\n\n\n

So there is irony here but also a major current event piece of news which allows Altitude to benefit from a major industry challenge.<\/p>\n\n\n\n

Companies are increasingly adopting cloud services that enable employee collaboration and document sharing, such as G Suite, Box, Office 365 and Slack.\u00a0On average, companies use 27 different cloud apps and services. Yet security and IT professionals have no way of monitoring how sensitive data is moving, when employees become malicious, or compromised, or simply make mistakes, such as changing link sharing settings.<\/p>\n\n\n\n

A\u00a0Ponemon report\u00a0in 2018 found that:<\/p>\n\n\n\n