Rethink / Cyber / Promoting a Proactive Approach to Cybersecurity: Why We Invested in Nagomi’s $30 Million Funding

Promoting a Proactive Approach to Cybersecurity: Why We Invested in Nagomi’s $30 Million Funding

Liran Grinberg April 24, 2024
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Today, Team8 Portfolio company Nagomi, aptly named after the Japanese concept of balance, announces its $30 million Series A investment and launch. The $23M Series A funding round for Nagomi was led by TCV, with participation from CrowdStrike, Okta, and Team8, who led the previously unannounced $7M Seed Round. This major investment underscores the industry’s strong recognition of Nagomi’s approach to proactive threat management.

‭With a mission to help cybersecurity teams focus on real world threats, Nagomi’s Proactive‬ Defense Platform enables customers to maximize the effectiveness of their security stacks to‬ defend against emerging, relevant threats that are being carried out in the wild. The platform transforms fragmented best-of-breed solutions into best-of-suite security for customers by providing end-to-end visibility of defense capabilities mapped against MITRE ATT&CK. 

Here are 6 reasons why we are bullish on Nagomi and its value for the cybersecurity industry.

1. Immediate Value for Customers

One of the most compelling aspects of Nagomi’s offering is its “time to value.” The platform empowers customers to leverage their existing security infrastructure more effectively, ensuring rapid returns on investment. This capability addresses a crucial need in the industry—enabling organizations to combat threats without the overhead of additional tools or prolonged implementations. As enterprises continually seek ways to enhance security without disrupting existing operations, Nagomi’s solution provides immediate value and stands out for their practical and immediate benefits for customers.

2. Scalability at Its Core

From the outset, Nagomi was designed with scalability in mind, a decision that caters to the needs of the world’s largest organizations. This design philosophy has allowed Nagomi to demonstrate its capability by managing and mitigating hundreds of thousands of exposures at an early stage. Such scalability is crucial as it ensures that as organizations grow and their security needs evolve, their investments in Nagomi’s technology continue to pay off enhancing their resilience against an ever-changing threat landscape.

And on the business side, the scalability of its operations show a path forward. Nagomi’s effectiveness is evidenced by its rapid achievement of $1 million ARR, a feat accomplished while still in stealth mode. This early success is further cemented by securing Fortune 500 customers, helping organizations like IFF, HFW and WELL Health Technologies stay ahead of their‬ adversaries.

3. Novelty in Cybersecurity Management

The cybersecurity industry is fraught with challenges, not least of which is the complexity of managing diverse and fragmented security tools. Nagomi’s platform addresses this directly by providing organizations with clarity on how well their tools are configured to combat specific threats. This is increasingly important as the threat environment evolves and new vulnerabilities emerge. By enabling continuous reassessment and realignment of security postures, Nagomi helps organizations stay ahead of the attackers whilst gaining true visibility of their security posture.

4. Fostering a Common Language for Security

Perhaps one of Nagomi’s most critical contributions is its ability to bridge the communication gap between security practitioners and business leaders. Before Nagomi, discussions about threats were often mired in technical jargon or oversimplified to binary terms. Now, teams can quantify and communicate threats in a manner that is both technically sound and accessible to non-experts, fostering better decision-making across the board.

5. Cyber Leaders Turned Cyber Executives

Nagomi’s trajectory is guided by a team possessing deep expertise and leadership, matching the profile of Team8 founders who build innovative technologies in sectors undergoing meaningful digital transformation. Emanuel Salmona, Nagomi’s Co-Founder and CEO, formerly held the position of General Manager, EMEA at Claroty, a cybersecurity unicorn and Team8 portfolio company. Alongside Emanuel, Shai Mendel, Co-Founder and CTO was previously at Cybersecurity Unicorn, Snyk and Jonathan Meler, Co-Founder and CPO led product at Demisto which was successfully acquired by Palo Alto Networks. 

The multi-talented founding team are complimented by Nagomi’s newest executive additions CMO Nathan Burke, who played a crucial role scaling CAASM pioneer Axonius’s growth from zero to $100 million in ARR alongside Joseph Hoban, as Vice President of Sales and former Axonius Sales Leader. 

6. Leveraging The Team8 Village

Since its foundation, Nagomi has been closely integrated with Team8’s CISO Village, growing alongside the collective expertise of hundreds of seasoned cybersecurity leaders and experts. This collaborative environment has been pivotal in shaping Nagomi’s solutions to specifically address the unique challenges faced by CISOs while enhancing its positioning within the cybersecurity vendor landscape. Adding to this strategic depth, Morgan Gerlak, a Partner at TCV, has joined the board, signaling a strong alignment with its investors focused on proactive, data-driven security management. 

Looking Ahead

As Nagomi continues on its journey, the road ahead is promising.

To the entire team at Nagomi — we are only just beginning. As you embark on this new chapter, the potential to transform cybersecurity practices is immense. Here’s to continued innovation, effective security management, and a safer digital world.

In closing, it’s clear that Nagomi is not just developing a product but spearheading a movement towards more proactive, accountable, and scalable cybersecurity. As they grow, the industry watches with interest, anticipating how their innovations will continue to shape the landscape of cybersecurity management.

Onward and upwards! 

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